With so many people now engaging in business over the internet, an online payment processor is a must-have. More people today resort to online processors to make selling or buying online easier, more convenient and most of all safer than having to reveal one’s credit card information online. Also, many people are now turning to online processors as a means of paying for services or work done especially for virtual or remote workers.
There are a variety of payment processors to choose from online. If you are just getting started with using this alternative, here’s a few summary of the most widely used payment processors today.
1. PayPal (PayPal.com) – PayPal is probably today’s most popular and widely used online payment processor which is available in many countries. It is easy to use by just letting you send money to anyone using email. It is integrated with a lot of major online businesses and other retail websites such as eBay, Amazon and many others. There are a variety of features that PayPal has developed since its inception. Using PayPal is more convenient for sellers where they can simply create “Buy it Now” buttons quickly without the requirement of any technical expertise. On the hand, PayPal charges minimal fees which are based on the amount of money you are transacting or who you are sending the funds to.
2. AlertPay (AlertPay.com) – AlertPay is a lot like PayPal where you can send and receive money over the internet by email. You can also choose to create different account types based on what you need just like PayPal. Fees are a little bit higher with AlertPay and there are other charges such as a $20 fee for a wire transfer. AlertPay is also still slowly gaining popularity is some countries. However, there are not a lot of people using AlertPay compared to PayPal but it is fast becoming a good choice for many.
3. Moneybookers (Moneybookers.com) – Moneybookers is another online payment processor that offers a cheaper way of sending or receiving money to anyone in the world. The process is similar as that of PayPal or AlertPay using email address to securely send or receive payments. Moneybookers especially caters to small businesses, individuals or online sellers/merchants. A 1% fee which is up to EUR 0.50 is imposed when sending money while receiving money is totally free. Currency conversion fees also apply which is 1.99% of the wholesale exchange rate.
The above is just a quick run-through. For more information on each of these processors you may their websites. Take it from there and compare which online payment processor will best fit your needs.