How to Get Money in Cash when you are Dropshipping
Many newcomers to dropshipping are a bit confused as to how they will actually get the money they earn? And what about shopify stores? In this business, all the operations happen online. Your customers are spread all over the globe, so they obviously can’t pay for their orders in cash. So, what’s the way to turn your online profits into real money?
First, let’s talk about the critical tool in this endeavor – SaleSource. In brief, SaleSource is the plugin that allows you to build your own dropshipping store with the lowest expenses possible. With the help of this store, you will be able to sell products to people all around the world. The greatest thing here is that you won’t have to manufacture or buy these items beforehand, and you won’t even need to ship them to the buyers yourself. Sounds great? Read this article to learn how exactly this business works. In this article, we’ll explore the ways to turn your online dropshipping profits into cash.
Step 1: Choose payment gateways
In order to start accepting payments from your buyers, you need to equip your online store with a user-friendly payment gateway. For example, there is PayPal – a global online payment system with lots of users in different countries. If your buyer is registered with PayPal, he or she can easily transfer money to your account through this system. At the same time, there are also payment processing gateways that let you accept credit and debit card payments in your store. There are many providers of this service, for example, Stripe and 2Checkout.
If your dropshipping store targets several countries, it’s a good idea to integrate BOTH PayPal AND a payment processing gateway into your website. This is the world-class standard for eCommerce, and if you follow it, you prove that you really run a serious and trustworthy business, and you will maximize your potential profits. The only task for you here is to check that the payment methods you’ve chosen are available in your target countries and in your own region. You can find the full list of payment gateways available for SaleSource stores on our official site.
Step 2: Register within the payment gateways
To start using these gateways, first, you need to register with them. There is nothing difficult about this as the payment processors usually have detailed step-by-step guides. For example, you can find a video that explains how to sign up for a PayPal account on their official site. And from this article, you will learn how to register with Stripe. By the way, you will find a useful bonus in this article: it explains how to officially register your business in the USA no matter where you live!
Step 3: Connect the payment gateways to your store
By now, the most important steps are completed. You’ve selected the payment gateways that are most popular with your target audience, and you’ve registered for them. So, it’s time to connect these accounts to your store and make sure that they will receive all the payments made by your buyers. When your dropshipping store (with the help of dropship spy) runs on SaleSource plugin, it’s a very easy thing to do. It supports the most popular payment gateways that are most typically used around the globe.
In our other articles, you will find the list of payment gateways that are fully compatible with the plugin and the link to our knowledge base that explains how to complete this integration. And, if you use SaleSource Woo plugin, this step is even simpler – WooCommerce supports nearly ALL the payment gateways in existence.
Step 4: Check your credit card/ bank account
When you were registering with PayPal and other payment processing systems, you were asked to provide your credit card number or bank account details. This same credit card or bank account is the place where your money will arrive. You can withdraw your money from there and use the cash!
Don’t worry if you don’t see the money on your account immediately after a client pays you. Remember that it’s a multi-step process that takes time.
Every gateway and every country are different. Sometimes, it might take your money several days to be transferred to your account. Also, some systems have a minimum withdrawal amount – that means you can’t turn the money into cash until there is a specific amount in your account. In other words, it’s possible that you will need to pay your AliExpress supplier before you turn your buyer’s payment into cash. That is why you need to have your own spare money to handle your very first orders! And make sure you’re keeping it on your credit card: AliExpress doesn’t support PayPal, so, if you want to pay the suppliers, you need to use your card for this purpose.
Now, you know everything about making real, spendable money from your dropshipping business.