How many Payment Processors do you have?
By jsitko
@jsitko (1169)
United States
January 23, 2009 1:49pm CST
I was wondering how many payment processors you are a member of. I was posting on one of the forums I am a member of and was going to enter a contest there but could not because they were going to pay the prize money through one of the 5 processors they have available. Now, I know it is a great asset to have that many processors for us to choose from, especially, just for one forum. Many of the different forums and PTC sites I am a member of pay through a variety of them.
That is why I am a member to 3 so far, paypal, alertpay and liberty reserve. I know there are many more out there and a few new ones just recently opened. Many of us are from all over the globe and some payment processors work better for others than they do here in the USA. The 3 I have chosen to use work great for me, some of the others would charge me a few or I would have to exchange currencies.
How many do you have and d you think it is enough or do you need other ones for different reasons and uses?
5 responses
@apaiktos (158)
• Greece
24 Jan 09
Hello jsitko! I am using just one payment proccessor, PayPal and i am looking furhter for an alternative solution, to use it as my back up. Since now i have no problems and i can not see any reasonable reason to open a third or/and a forth account with others payment proccessors.
@apaiktos (158)
• Greece
27 Jan 09
The criteria for selecting an alternative solution to PayPal as back up, do not really different from those that i had, when i chose PayPal.
When something new offered in the market it is always good and it is even better if such service provided with other various facilities like the use of the service from international users.
But more important is whether the service is used massively like PayPal that perhaps has the most customers from all over the world than any other on line business. This is something that makes PayPal reliable.
@jsitko (1169)
• United States
28 Jan 09
I completely agree with you about paypal being the best out there and the most reliable. There are more coming out especially for international uses and exchanging the different currencies. I will imagine that these will become highly used in the near future. EvoWallet in one of the newest I have heard of lately for international payments.
@nomoso (650)
• India
3 Feb 09
I use two personal accounts in paypal and in alertpay. I use paypal as my primary payment processor and alertpay for official use. i have two accounts in paypal and that helps me a lot.I have also hear of one more payment processor. Its ikobo and we get a global card which can be used in any ATM worldwide with a small transaction fee.
@echomonster (2226)
• Greenwood, Mississippi
23 Jan 09
I'm a member of PayPal and AlertPay currently. Every site I use pays in one or the other so I don't feel any pressing need to join any others at the moment. I dud used to have an e-gold account, too, but never bothered with the verification process they started requiring...it hardly seems to be used anymore anyway. So two seems to be enough for now -- of course I'd be willing to join more if sites used them but not AP or PP.
@jsitko (1169)
• United States
26 Jan 09
Hey Echomonster, It seems like PP and AP are the two most used. I also have and Liberty Reserve acct because many sites are starting to use them as well. However there are many more out there and many international processors are being used too. These are good for many users but here in the USA, the are not so easy to use unless you are going to leave the money there and not transfer to your bank. Thanks for your response and have a nice day.
@dinos1 (204)
• Greece
24 Jan 09
Well, having more than 1 is definitely better not only for the possibility of one getting hacked/suspended etc..
Most of these processors charge fees after a specific amount, e.g. paypal charges fees for amounts greater than $400. So, if you distribute an amount of $1200 in 3 processors, you get $400 from each with no fees, while you should have paid transactions fees in the case it was all processed by paypal alone :P
