After the Book – Accepting Payments
Now that your book is written it is time to make sales. Whether you are selling your book online or participating in book signings and live events, you need to have a way to accept all forms of payment. Paypal and Square Up are two popular solutions.
Paypal – www.Paypal.com
It is hard to sell anything online without a Paypal account. Paypal allows you to accept all forms of payments anywhere you do business. Many online customers prefer Paypal because their financial data, such as credit card numbers, is not shared with the merchant. If you want to sell your book from your website or social media platform, you need to set up a Paypal account. It is fast and easy.
I suggest that you set up a separate bank account to link to your Paypal account. While Paypal accounts are relatively safe, they are not hack proof. You can generally open a new bank account with a $100 deposit.
There are two ways to get your money from Paypal once someone has paid you. You can transfer the money to your bank account, which usually takes a few days or you can withdraw your cash using your Paypal debit card. Make sure that you order your Paypal debit card as soon as your account will allow you to.
The Paypal Here app for your smart phone will allow you to accept credit cards and checks. This is a necessity if you are doing book signings and live events.
There are a few things you should keep in mind in order to keep your money safe with Paypal. Never give anyone the password to Paypal account. Paypal will never ask you for that information. Also, be careful of phishing emails that you may receive that appear to be from Paypal. Never click a link within an email that appears to be from Paypal. If the email indicates a problem with your account, close the email and log on to your account from Paypal’s home page. If you believe that your account has been compromised, contact Paypal as soon as possible.
Square UP – www.squareup.com
The Square is also a device that allows you to accept credit cards using your smart phone. This is a good alternative for onsite credit card acceptance if you don’t have a Paypal account. You can also use it as a back device in case you find that you need more than one processor. For instance, if you are at a large event and many people are in line to buy your book, you can have 2 “registers” going at once provided that you have access to a second smart phone. Transactions from Square are transferred to your bank account the next day. You can also track checks and gift certificates but no funds are actually transferred.