So, I am doing a research on on-line EFT Payments for a new project. It seems that Paypal has the monopoly for all auction and business websites, and is a personal preference for the consumer buyer.
Moneybookers - too slow for upload of funds but works wonders once you have money in it and is accepted worldwide. Fees are very good.
BidPay - only takes payments for authorized auction sites. So, if your store is not on Ebay, Yahoo, Overstock you cant receive payments. Very easy transaction process though.
Hyperwallet - Does not take credit card processing so you will have to rely on the upload of your funds through your bank. And guess what? My bank is not even listed. So, I'm not sure what the next step is. I really like the Beam Money service. Sounds very trekky to me.
Epay.bv - Serious potential on this one. Only if their site is navigatable. I got lost somewhere between Cash In and Cash Out and E-Gold accounts. The fees are manageable but not competitive. But it gives you a lot of options to upload and withdraw.
What would life be without Paypal? Google Checkout better expand their wings soon. I think everyone is now ready for another trusted alternative.
posted by The Imaginary Diva at 10:54 PM
2checkout is another big one too. Paypal is big because it is owned by Ebay and obviously, they have good payment intergration. Plus they offer free services too. I think they put bidpay (used to be owned by Western Union) out of business for a while but it has since resurfaced as it was "bought" by Cybersource. There was a time where Ebay would not allow bidpay payments too but it seems like that is no longer the case.