can anyone suggest an alternative to PayPal.

sebastianj

Not saying it should not cost. My 'comma' key not working. But it should not be as much' if you consider the risk' there is almost none so why does it cost so much?

seb

colsten

What precisely is it that you say costs so much? Is any of the other electronic wallets an alternative?

JuicyJesus

sebastianj wrote: »

Not saying it should not cost. My 'comma' key not working. But it should not be as much' if you consider the risk' there is almost none so why does it cost so much?

seb

There are numerous risks involved in running an e-wallet service. The chief one that comes to mind is the risk of the service being used for criminal purposes (AML risk). Another would be the credit risk of having to follow through on the buyer's guarantee, debiting the seller's account and then the credit risk of pursuing them for the payment.

There are also of course the not insignificant systems and operational costs involved with running an international e-payments system that directly interfaces with all of the national payment systems in the countries where it operates and caters for payment amounts which range from the incredibly tiny to the astronomical with an incredible amount of flexibility, as well as running a disputes scheme which is largely unparalleled in the field of e-wallets and is why PayPal is so trusted a name in e-payments to the point that nobody has yet been able to name a viable alternative, along with the customer service operations to service these things (including email and telephony support) and associated staffing costs.

What I'm trying to say is that for the things PayPal does, and does incredibly efficiently, they actually charge a very reasonable amount. It only seems huge in this country because not paying for one's banking transactions is the norm.

ilikewatch

You could try Nochex, assuming they still offer the same service that they did in 2002 when I last used them. I seem to remember that they were cheaper than PayPal or eBay payments back in the day.

masonic

You won't incur any charges for accepting bank transfers. Obviously, insisting people pay you in that manner will reduce your customer base, but you are even less likely to get people to sign up for some obscure e-wallet service just to pay you.

JuicyJesus

ilikewatch wrote: »

You could try Nochex, assuming they still offer the same service that they did in 2002 when I last used them. I seem to remember that they were cheaper than PayPal or eBay payments back in the day.

They also have no disputes protection, which bit me on the a**e the last time I used them and someone stiffed me out of the goods I'd paid for.