Have you ever wondered why it appears to be so damn hard to pay for stuff and to get paid when working as an entrepreneur online?
Sometimes it feels impossible, as if the very businesses that you are working with are doing everything within their powers to stop you paying them or them paying you!
The reality is that with all legitimate businesses nothing could be further from the truth, they want you to be able to pay them quickly and easily using the traditional payment methods that we have all become accustomed to of credit or debit cards. The problem is that the established banks and financial institutions globally make it almost impossible for new emerging and fast moving companies to get merchant accounts to process payments in this way, and even if they can they will generally find that at least 60% of the money that they take in will be held back for at least 90 days.
This of course makes running a business pretty much impossible unless they already have millions on deposit. Just think about it, how can you pay out say 50% commissions to your affiliate's if the bank is holding 60% of your money?
Beware of Bullshitters!
Now before I continue I want to utter a word of caution here, what I have so far explained is 100% the truth but it does not mean that there are not unscrupulous companies online that will spin bullshit stories blaming the payment processors so as not to pay you. Always do your own due diligence about any business opportunity, product or service that you decide promote.
In addition to the problems caused to businesses by the greedy banks, the whole financial system colludes with governments to control you and your wealth, they want to control what you can earn, where you can earn it and where you spend it. Between them they make it difficult for us because it is not in their best interests to make it easy.
The Emergence of eWallets
Way back in December 1998 a small team of five people which included Elon Musk saw an opportunity to fill a gap in an emerging market for online payment processing and created PayPal, back then everyone thought that the only payments we'd ever likely make online would be micro payments but how the world has changed. Today PayPal has 188 million members and made more than US$ 1.22 billion profit last year alone!
So Why Not Just Use PayPal?
There are lots of reasons for this, the short version is that even though PayPal built their business on the backs of entrepreneurs, today the rules have changed and if you are involved in any kind of 'business opportunity' be it multilevel marketing or single tier affiliate program be aware that PayPal have a habit of seizing funds and closing accounts without recourse. Add in the fact that they only operate a full service in 26 countries and you'll understand why it's not the global solution that you may have thought it was. The bottom line is this, if you ever see a multilevel opportunity using PayPal to pay for their product then my advice is RUN!
As an entrepreneur you have to adopt an unstoppable mindset. I for one will not be dictated to by anyone, least not governments, banks and financial institutions how I can spend my money. Therefore we must all do as the Scouts Motto says and Be Prepared...
Like it or not if you are going to be successful as an entrepreneur you are going to have to jump through some hoops along the way and do some stuff that you'd sooner not do because it's boring. That's life, so suck it up and get it done, you only have to do this stuff once to be prepared for a lifetime.
The Solutions Not Perfect but it's Simple!
You need to create an account with all of the major payment solution providers. For this I have both good news and bad news, let's deal with the bad news first...
The bad news is that although there are many processors there are a relatively small number of major players so it's not as painful as you might think.
The good news is that although they will all require you to provide proof of who you are in order to get verified, they all accept the same documentation as proof, that's usually one or both of the following...
1. Passport or Photo I.D. Driving Licence
2. Recent Utility Bill (showing your home address)
My recommendation is that you get a scan of each of these documents saved to your computer before you get started, then the pain is so much easier to bear!
Below you will find links to the payment solutions providers that you will come across most often. All accounts are free to setup.
(all links open in new tab for your convenience)
This First Section Contains The Most Important Ones
Bitcoin is the first decentralized digital currency and it allows you to transfer money to anyone on the planet in seconds at virtually no cost. In short it's the future of payments online.
This Section Contains Others That You Should Create An Account With
This Section Contains Everything Else
Despite my derisory comments about their relationships with entrepreneurs you should still get a PayPal account if you are in an eligible country. Just be careful to manage it wisely.
Western Union is a very different payment solution to those listed above. In simple terms it's a way to send money around the world to and from bank accounts or local agents where you can pick up cash regardless of your country.
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