Ebay subsidiary PayPal is offering a new ‘virtual card payment system’. The world’s dominant online payment company has teamed with MasterCard to offer a payment vehicle for customers which allows payments at web sites that do not directly handle PayPal payments. They are offering a virtual one time use prepaid card per transaction.
Selling digital products and content over the Net is an ideal business for using digital currency. But where can you find such an opportunity. I searched for a few days across the net but only discovered digital sellers using credit cards and PayPal operations. Soon however, there will be a huge English version of a Webmoney digital market place available to all of us.
Say bu-bye to those third party eWallets, delayed merchant authorization and slow clearing of your funds. This new online payment option will allow customers to make secure retail online purchases and pay their bills online from their online banking account platform. No third party account needed.
Google moves to enter the mobile phone payment market with their patent application.
Some readers refer to this match up as the ’smack down commerce grudge match’ of the decade. You can’t yet use Google Checkout on eBay, but Google’s new creation is an awesome e-commerce advantage for anyone selling online.
PayPal may have invented it but today there is lots of competition for those online retail dollars. The newest entry is Amazon Payments from giant Amazon.com. Already owning a big piece of Internet retail sales this Amazon operation is sure to be a winner.
TechCrunch is reporting a possible new online payment system from Amazon.com which might complete with PayPal and Google Checkout.
Most people will tell you that PayPal’s move into banking was long overdue. With 50+ million users in Europe and the UK, they seem to on top of the world. Look out….here comes Google Checkout.
Credit card alternatives including Bill Me Later, Google Checkout and PayPal are growing faster than expected.
Do you accept credit cards for online purchases? Watch out, there are some new rules this year you must follow regarding the data you collect from customers.
Digital Currency, e-Currency and Digital Money
Written by Benson Koh [email], and Donna Jackson [email] for b5media.
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