The digital age has revolutionized the way we buy and sell goods and services. With just an email address, you can now pay for purchases and receive money without ever handling physical cash. This virtual money might not have the tactile satisfaction of a crisp dollar bill, but it's just as valuable. A plethora of online payment services have emerged to make this virtual transaction a reality.
So, how does this digital wizardry work? All you need is the email address of the person you need to pay or receive money from and the name of the service they use. If you're not a member of the service they use, you can simply register (usually for free) and collect your money.
Payments are made either by linking your offline bank account or using your credit card. As more people adopt this method, your electronic service account balance will allow you to settle your debts without accessing your credit card or bank account. Converting your virtual money to physical cash is as easy as requesting a check for an amount within your account balance. A tangible check will arrive at your doorstep in less than a week.
Let's explore some of the more popular services and how they operate.
PayPal, a subsidiary of online bank X.com, is arguably the largest online payment service today, boasting over 3 million customers. Registration is free, but business accounts are charged 1.9% to receive funds. Payments can be made using Mastercard, Visa, or your offline bank account. They also offer a $5.00 referral bonus for every friend you refer. Currently, PayPal does not accept international payments but plans to expand into this area soon.
eCount is free to register and use. Payments can be made with Discover, Mastercard, or Visa. Transactions are capped at $1,000.00 per day.
Yahoo Pay Direct allows you to accept payments with American Express, Discover, Mastercard, or bank transactions from your existing offline account. They have a monthly transaction limit of $1,000.00 for all transactions.
Emoney Mail has over 20,000 users but charges $1.00 to send money. Transactions are limited to $500.00 a day, and the only way to send money is using your Visa card.
ProPay charges 3.5% of the total, plus .35 to move funds to your bank account. Transactions are limited to $250.00 a day. Payments can be made with Mastercard or Visa. They offer a $10.00 referral bonus for every person you refer who registers.
Billpoint is E-Bay's service and is the preferred method to use if buying or selling on their auction site. Sellers must register and pay .35 per transaction for amounts up to $10.00, and .35 and 3.5% for transactions over $10.00. Transactions can be paid using Visa, Mastercard, Discover, or online check.
The advent of online payment services has leveled the playing field for home-based businesses, allowing them to accept online payments without needing a merchant account. Many electronic shopping carts are starting to implement PayPal as a payment option during checkout.
In this digital age, there's no excuse for not settling your debts on time. Virtual money may not have the same feel as physical cash, but rest assured, it's just as good. Receiving payment electronically may not have the same thrill as someone handing you "cold hard cash," but it's still there - minus the need for frequent hand washing.
De-Spam Your Inbox: "How to Fight the Spam War and Win!"
Spam, Spam ... what's a person to do? If you'rean online ... odds are your mailbox is ... daily with Spam. The longer you've been ... theNet and the more visible you've
Website Updates are a SNAP With Server Side Includes
If you ever had to make a change to your website that neededto be carried onto every page, you know what a tedious job ... have I got news for you. It doesn't have to be. ... the world of
"Put Your Web Biz on Autopilot with Autoresponders"
Anyone who has a ... business will tell you that ... emails is one of the most time ... ... face on a daily basis. After ... your ... any length of time, you'll so
