Can a new payment processor compete with Paypal, AlertPay, etc?
@creationsbyrobin (3071)
United States
September 10, 2010 10:07pm CST
There is a new payment processor that has just begun to promote their future site, and they are making quite a fuss on the internet.
Since eBay's Paypal dominates the scene, followed by a quickly growing AlertPay, do you think it's possible for another processor to gain a foothold in a field dominated by these two?
The new site seems to be originating out of New Zealand, and is hiring for their San Fransisco office, so they appear almost ready to launch. The promo they've come out with is pretty good ($50 to sign up & they aren't asking for any financial info yet...they are also offering referral bonuses...so drop me a pm if you want a link...shameless, I know)
So can another processor muscle in on Paypal's market...can they displace AlertPay as the quickly growing #2 processor...or is this company just looking to be obtained by another existing company?
3 people like this
8 responses
@celticeagle (165272)
• Boise, Idaho
12 Sep 10
You just never know. Big business is just that and they can do alot of things. I doubt Paypal or the others will go away. I have been on Paypal for nearly ten years so it is very firm in this country anyway. I think that new businesses with different things to offer may very well make a dint.
1 person likes this
@creationsbyrobin (3071)
• United States
12 Sep 10
Either this site will have several thousand members on board when they launch- a $50 sign-up bonus is quite a powerful draw- and other businesses will want to add the them to the list of acceptable payment processors, or perhaps they'll be acquired by AlertPay, or another processor.
It would be great for the online industry if they accepted several different processors, and allow customers the choice of which one we would prefer using.
Thanks for your response!
@moonlitmagikchild (22181)
• United States
12 Sep 10
hmm i dont know.. i tried alertpay and just didnt like it and im not a fan of paypals fees but i trust it more than anything out right now.. it will be interesting if this new company takes off and takes over or if it will just not be able to keep up and the internet swallow it alive
@creationsbyrobin (3071)
• United States
13 Sep 10
I would be shocked if this new site can become the leader in the payment processor industry... Paypal in firmly entrenched as "king of the hill". But I wouldn't mind a little competition in the field...maybe make Paypal feel a little threatened, threatened enough to cut fees a little.
Anything that helps us keep a little more money in our accounts, would be a good start.
Thanks for responding!
1 person likes this
@moonlitmagikchild (22181)
• United States
13 Sep 10
yeah that would be great! i stopped using ebay because of the fees and hate that them and paypal are in cahoots but since i dont like any of the other payment options so far im kinda screwed with it and as a seller everyone wants to use paypal and well money orders and checks/cashier checks seem to be high scam issues
@bikespot (483)
• Canada
11 Sep 10
What is the new payment processor.
Id be interested to check it out. They are giving sign up bonus which is great.
But in all reality if nobody accepts them then nobody will use them. I run a shop that sells electronics , and other goods. Our main focus was Alertpay as payments , because nobody else out there accept alertpay for our products. It has worked great. Its all about getting sites like mine and other shops using the payment processor.
@creationsbyrobin (3071)
• United States
11 Sep 10
This is all very true. They have laid out a time-table of how and when they plan to implement everything...quite interesting actually. Obviously, Paypal is the leader, and AlertPay has found it's niche market and continues to grow.
I believe there is a market for a third company...at least a company that launches with several thousand members at the start. Online companies will at least take notice if they start off with decent numbers.
I'll send you a friend request and send a link to you, so you can take a look. Since they're not asking for much in the way of personal info (name, email addy) it's not really a gamble for the chance to have $50+ in the account when they launch.
Thanks for responding!
@creationsbyrobin (3071)
• United States
12 Sep 10
I hear you. Without question, Paypal offers great security, and practically everyone accepts them. But customers could use some competition in the processor industry, just to shake things up.
I figure that trading my name & an email address for a $50 bonus is a worth the few minutes it took to sign-up. They'll really have to prove themselves if they think I'm about to put my own money into their accounts if they have limited choices where I can spend it. I guess time will tell.
Thanks for your participation!
@creationsbyrobin (3071)
• United States
11 Sep 10
Actually, this site already has an area for taking a couple of surveys, and an additional area where they ask you to let them know what you are looking for in a processor.
So they do want to hear from their potential customers.
@joobie (13)
• Canada
11 Sep 10
If a new payment processor were to compete with Paypal, AlertPay, etc, it would take time for them to build up their reputation since Paypal and AlertPay have a good reputation known for processing money through banks, making purchases, etc. IMO, in the near future, maybe, but in the present, not a chance.
@creationsbyrobin (3071)
• United States
12 Sep 10
I think they are taking the approach of having a very large member list. A large list of members should get some online shops to take notice, and at least take a good look at this processor, and maybe even accept them. Several thousand members are going to be ignored by lots of online shops and vendors that are struggling to make sales.
I think the present is now, and it can only be good for us customers if this works out well...online customers would have another processor option, and AlertPay and Paypal might be willing to lower fees, or increase their small cash back option, or interest on our funds.
@CoffeeAnyone (3210)
• Canada
25 Oct 10
Oh I would love for more then one more company to come along like paypal. Those guys need more cometition that is for sure. I realize there is AlertPay but I would like to see way more. Only then can we have decent fees for services rendered.
@theagold17 (121)
• Philippines
11 Sep 10
well i dont know about that.. i heard processor.. but i havent know about more info with that..
@creationsbyrobin (3071)
• United States
11 Sep 10
A payment processor is what Paypal and AlertPay are. This is a new company that is looking to compete with Paypal.
