When a guest pays for a room online, we route them to your choice of payment gateway (Authorize.net or PayPal in the USA; SagePay or PayPal in UK; PayPal elsewhere). You can select which gateway to use in Settings > Online Bookings > Require payment with booking:

If you don't already have a payment gateway account, then PayPal is the easiest (and often the cheapest) way to go. The best PayPal account type to use is called the "Website Payments Standard" account (in USA / UK; it has a similar name in most other countries). This account has no approval process, and no monthly fee, and the percentage processing fee is comparable to traditional card processing services. (You can use this link to create a PayPal account.)
Note that if you do use PayPal as a gateway, guests booking online don't need their own PayPal account to pay you, you will just be using PayPal to process their credit card payment. (In some countries, you need to change a setting to make PayPal account optional for the guest. See this post for more details on that.)
In KeepMeBooked, you just enter your payment gateway details in Settings > Online Bookings and we then route the guest to your payment gateway at the end of the booking process.
Payment takes place on your payment gateway's secure server, so we don't see or handle the actual credit card number. Our system just waits for confirmation from the gateway that payment was successful. We then record the payment amount and reference number with the booking in your KeepMeBooked account:

(Our system waits for 30 minutes for confirmation from the gateway that the guest completes the payment process. If they abandon the payment process, then we automatically release the room again for someone else to book.)
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Want to take confirmed online bookings, with online payments, without jumping through too many hoops? Try KeepMeBooked: web-based software for B&B and guesthouse owners to manage their reservations and take online bookings.
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