Payment Processor Guide

[mianghuei]

This is my Payment Processor Guide. There are quite a number of payment processors on the internet. The most prominent would be Paypal. This Guide is a comparison of their security features, Advantages and Disadvantages, and also their popularity.

Paypal

As everyone must have now known, Paypal has changed its terms to say that it won't support bux ptc site. During the announcement, they also blocked some accounts. So only newer PTC , very old and trusted PTC and almost all PTRs support Paypal. Paypal is one of the most convenient Payment Processors because of many merchants using it. Ebay uses it as its official payment processor (not strange because they own Ebay).It is also convenient to withdraw to US and certain countries' bank accounts for free. $5 is charged to withdraw to credit or debit cards. Besides, you don't have to verify your account (subject to a money limit).Down side, you have to be careful when you use your account because the security is not as good as other payment processors. They also charge a fee for business accounts.

Alertpay

Alertpay is a Canadian company. Security level almost like Paypal. Their support is good. More PTCs support them. They too charge a fee for their version of their business accounts.However, many users complain of blocked account with lots of money in it. Also, they discriminate. Only certain countries must verify to get to use their accounts.

e-gold

My favourite payment processor. They have a very good security system. The turing code helps with bot and the account sentinel help protect your account by sending a verification code to your email. They also have the SRK function used by Citibank and other banks. They are the most convenient for paying small amounts. Your account balance will fluctuate according to the gold price at the time. They charge a storage fee and also transfer fee borne totally by the receiver. If they block your account you can retrieve the money. This offshore processor is already here for 12 years. HYIPs like them.

Liberty Reserve

Pretty much unsupported for the time being but has a very good security system. Similar to egold but without the fluctuation of account balance and the fees.


There are other payment processors but I don't use them:

Moneybookers
E-bullion
AsianPay
StormPay
Altergold
Debit Cards
SolidTrustPay
Pecunix
V-Money
EMO
INTGold

Exchanges

If you want to make exchanges between e-currencies or buy and sell real cash for e-currencies, then you can look for exchangers. There are many on the internet. Be careful because some cheat you money away. Anyway you need to have a bank account to get the money into your bank. Paypal and Alertpay disallow exchanges except through them but they charge high fees and their rates are too low.

Don't write exchange in the memo line when you send anyone money.

Thank you for reading and hope you get on well with your payment processors.

SIGNED,

JaMeS lEe

[kayin04]

I have to disagree on this part...

Down side, you have to be careful when you use your account because the security is not as good as other payment processors.

PayPal, IMO, is very secured. I had no problems when using my debit card online, transactions are made fast and very simple. Plus, payments come with payment receipts to ensure security.

This is the best payment method / processor, for me at least. Maybe you had some bad experience/s with PayPal, would you kindly share it to us?

[mianghuei]

Originally Posted by kayin04

I have to disagree on this part...



PayPal, IMO, is very secured. I had no problems when using my debit card online, transactions are made fast and very simple. Plus, payments come with payment receipts to ensure security.

This is the best payment method / processor, for me at least. Maybe you had some bad experience/s with PayPal, would you kindly share it to us?

Not a bad experience with paypal. It's just that their log in screen is on their front page and they don't mail you a one time payment or sign in code to your email like E-gold so I think its not as secure as Egold or Liberty Reserve.

[kayin04]

I see... The login part, yes I agree with you, is not that secure, but the transactions made in your credit / debit card is very secure.

Hope they do something about it.

[markstoon]

great to have a guid for all payment peocessor i just wish that you add MB even you didn't use it but it's my main paymnet processore and i need to find all about it

[mianghuei]

Originally Posted by markstoon

great to have a guid for all payment peocessor i just wish that you add MB even you didn't use it but it's my main paymnet processore and i need to find all about it

Ok I'll add it below

Moneybookers


Auction payments
Worldwide
Instant payments
Easy to use
Low prices
Earn money
No charge backs
Instant payments
Low costs
Local payments in 30+ countries!
Reference customers
Accept credit cards

Interesting, I might test it.


copyright mianghuei 2008