Payment systems - methods, fees and what to use
Loosing a project by a service provider due to inability of receiving payments via fast and global means of money transfer is not uncommon. There are various types of payment methods, but not all of them are applicable in all countries. There is a difference in commission charges among them too.
Here is a list of some common payment methods which are preferred by most:
Paypal: Paypal is the most preferred payment mode especially in USA and European countries. The simple reason for its popularity is that it is cheaper and faster as compared to other methods.
Credit cards: Though this payment method can work nearly all over, but the drawback is that it works out to be an expensive affair. With the hackers floating on the net, there is always a fear of getting scammed.
Bank Wire transfer: This is a safer method for receiving payments and it works in all countries. This is best suitable for those who receive large sums, as the commission will be lesser in this case as compared to other methods. But for small transactions, this method will prove to be very expensive.
E-gold: E-gold system is a bit different from others as it estimates your amount in terms of gold value. So, your amount is transferred as per the current gold price. This is not a direct money transfer system as it includes a third party too for the job. Plus there is always a threat of scams.
Moneybookers: This method is available nearly everywhere. Though the method is very safe but lots of verifications are required in the process. Still to some this seems to be the best payment method as it is very cost effective.
Western Union: Western Union money transfer method is gaining popularity day by day. It is absolutely secure, fast, and cost effective.
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Wow…this is like all the major online bank company descriptions on one page!!!! YOU ROCK!