Intro to payments: How do you get paid?
When a customer adds products to their cart and then goes to your store's checkout page, they can choose how they want to pay for their order using any of the payment methods that you've enabled in the > Payment page in your Launch Cart store admin. These payments are then transferred directly to your bank account or held within the payment provider's wallet online for you to use later (think of paypal.com).
Let's dive deeper.
A payment method is a 3rd-party company you use to accept payments. You can enable multiple payment methods at the same time, giving your customers different ways to pay on the checkout page.
Available payment methods in your Launch Cart store admin are:
Stripe.com (highly recommended)
Paypal.com (highly recommended)
NMI.com
OpenNode.com
Each one of these payment methods (above) will enable your store to process transactions online and accept orders from customers all over the world.
Login to your Launch Cart store admin
Go to the > Payments tab
Click "enable" next to the payment method of your choice and follow through with the setup. Only one payment method is required to enable your store to accept payments online.
Once a payment method is enabled, your store can accept orders from customers all over the world.
If you're located in these countries, we recommend using Stripe.com to ensure a seamless checkout experience for your customers.
If you're looking to accept orders from all over the world, we also recommend enabling PayPal.com at the same time. A lot of non-USA based customers prefer to pay with PayPal. This is also a great option for Launch Cart sellers who are located in smaller countries as PayPal is allowed in more than 200 countries worldwide.
Most Launch Cart sellers will enable Stripe.com and PayPal.com at the same time to offer their buyers more choices when they go to pay.
If you sell products that are typically deemed prohibited or restricted by Stripe or PayPal (Stripe's prohibited list | PayPal's prohibited list), we recommend that you use NMI.com as your payment method since they are more friendly to allow the sale of certain products that others won't.
If you'd like to accept cryptocurrency such as Bitcoin (BTC), then we highly recommend OpenNode.com as they offer lightning-fast bitcoin payments and the ability to convert automatically to the currency of your choice. This means, a customer can pay in Bitcoin, and you can receive USD instantly.
Every payment method takes some type of "processing fee" to process a transaction. These fees are typically around 2.9% + .30 cents per transaction. These fees are how companies like Stripe and Paypal make money. The rest of the transaction is sent to you.
If you're a Launch Cart seller that is using our "free forever" plan, you will be charged an extra 3% platform fee per transaction made from your Launch Cart store. This platform fee is in addition to the "process fee" of the payment method a customer uses when they checkout. You can remove this fee by upgrading to any Launch Cart premium plan.
If you'd like to remove the 3% platform fee, we recommend you upgrade your store to one of our premium plans. This will unlock more features for your store and supercharge your store's ability to convert more visitors into customers. Learn more on our pricing page.
An internal payment method will fully use Launch Cart's built-in checkout page to process the payment from your store's customer.
Current internal payment methods are:
Stripe.com
NMI.com
An external payment method will not fully use your store's checkout page, and instead, will take the customer to a 3rd-party website to complete the payment.
Payment methods like PayPal or OpenNode will redirect your customers to their secure checkout pages sometimes using a popup checkout window over your site to process the payment. After a customer completes the checkout, they will be redirected back to your Launch Cart store.
This depends on the payment method you've enabled.
Let's dive deeper.
What is a payment method?
A payment method is a 3rd-party company you use to accept payments. You can enable multiple payment methods at the same time, giving your customers different ways to pay on the checkout page.
Available payment methods in your Launch Cart store admin are:
Stripe.com (highly recommended)
Paypal.com (highly recommended)
NMI.com
OpenNode.com
Each one of these payment methods (above) will enable your store to process transactions online and accept orders from customers all over the world.
How do you enable a payment method?
Login to your Launch Cart store admin
Go to the > Payments tab
Click "enable" next to the payment method of your choice and follow through with the setup. Only one payment method is required to enable your store to accept payments online.
Once a payment method is enabled, your store can accept orders from customers all over the world.
Which payment methods do you recommend enabling?
If you're located in these countries, we recommend using Stripe.com to ensure a seamless checkout experience for your customers.
If you're looking to accept orders from all over the world, we also recommend enabling PayPal.com at the same time. A lot of non-USA based customers prefer to pay with PayPal. This is also a great option for Launch Cart sellers who are located in smaller countries as PayPal is allowed in more than 200 countries worldwide.
Most Launch Cart sellers will enable Stripe.com and PayPal.com at the same time to offer their buyers more choices when they go to pay.
If you sell products that are typically deemed prohibited or restricted by Stripe or PayPal (Stripe's prohibited list | PayPal's prohibited list), we recommend that you use NMI.com as your payment method since they are more friendly to allow the sale of certain products that others won't.
If you'd like to accept cryptocurrency such as Bitcoin (BTC), then we highly recommend OpenNode.com as they offer lightning-fast bitcoin payments and the ability to convert automatically to the currency of your choice. This means, a customer can pay in Bitcoin, and you can receive USD instantly.
What are processing fees?
Every payment method takes some type of "processing fee" to process a transaction. These fees are typically around 2.9% + .30 cents per transaction. These fees are how companies like Stripe and Paypal make money. The rest of the transaction is sent to you.
What is a Launch Cart platform fee?
If you're a Launch Cart seller that is using our "free forever" plan, you will be charged an extra 3% platform fee per transaction made from your Launch Cart store. This platform fee is in addition to the "process fee" of the payment method a customer uses when they checkout. You can remove this fee by upgrading to any Launch Cart premium plan.
If you'd like to remove the 3% platform fee, we recommend you upgrade your store to one of our premium plans. This will unlock more features for your store and supercharge your store's ability to convert more visitors into customers. Learn more on our pricing page.
What are Internal and external payment methods?
An internal payment method will fully use Launch Cart's built-in checkout page to process the payment from your store's customer.
Current internal payment methods are:
Stripe.com
NMI.com
An external payment method will not fully use your store's checkout page, and instead, will take the customer to a 3rd-party website to complete the payment.
Payment methods like PayPal or OpenNode will redirect your customers to their secure checkout pages sometimes using a popup checkout window over your site to process the payment. After a customer completes the checkout, they will be redirected back to your Launch Cart store.
When will I receive funds after making a sale?
This depends on the payment method you've enabled.
| Payment method | Speed of funds transfer |
|---|---|
| Stripe.com | 1st order can take 7-14 days. Following orders every 2 days. |
| PayPal.com | Funds are deposited instantly into your PayPal.com account. |
| NMI.com | Depends on your merchant provider. Typically timeframe is 2-3 days. |
| OpenNode.com | Funds are deposited instantly into your OpenNode.com account. |
Updated on: 04/08/2022
Thank you!