Comparison of E-Payment Networks
Web Commerce Today, Issue 56, March 15, 2002
|
|
Comments |
Percent of |
Transaction |
Users |
International |
|
PayPal, US |
Initial $1000 spending limit, which can be lifted for verified users. |
2.9% (2.2% for higher volume merchants). |
30¢ |
14 million |
Users from 39 countries. But only 13 countries have link to bank account. Withdrawals to int'l banks $1.50 fee ($7 in Japan, 55¢ in Canada). |
|
BillPoint |
Per transaction limit $500 ($2000 for approved merchants). |
2.5% + 0.5% over $15. (higher volume merchants 1.75% + 0.5%). Add 1% for non-US credit card buyers. Electronic check payments lower. |
35¢ |
Users in US and Canada only. Users can accept credit card payments from 42 countries. |
|
|
C2it |
Uses international banking connections for international payments. Pronounced "See TO it." Not a true network. |
None |
No charges presently in US. $10 international checks, $15 international direct deposit |
350,000 |
E-mail cash in US only. Send check or direct deposit (using WorldLink system) in local currency to 100 countries. US residents only can apply. Countries that cannot receive payments include Russia, Ukraine, Indonesia, Malaysia, etc. |
|
BidPay |
Not a network, but auction payments only via Western Union money order, initiated online, delivered by mail. Not a true network. |
From $100 to $700, add 2.25% |
$5 |
Recipient must live in US or Canada, paid for by Visa, MC, Discover, AMEX |
|
|
PayDirect |
Through HSBC Bank. Limits adding more than $1K per month, withdraw $10K per 180 days. True network. |
2.5% |
30¢ |
US residents |
|
|
NoChex |
Limited to £300-£500/ day, £1000/week. Can integrate with some shopping carts. True network. |
99p to load NoChex account. Charges on withdrawal, higher of 99p or 1% |
- |
120,000 |
UK banks only |
|
MinutePay
France |
Website currently inaccessible. |
- |
No charge at present |
Only those with account at a French bank at present |
|
|
PayBox |
Varies. mPayment system. Name confusion in different countries. True network. |
- |
€1.50 to send money between participating countries.€9.50 annual fee. |
750,000 |
Germany, Austria, Sweden, Spain, UK. Plans to extend to US and Asia |
|
PayCash |
No max or min. Allows micropayments. Wallet system. True network. |
In Russia, about 2% to 3% to put money into system. About 8% to take money out. In US, 1.5% with 30 cent minimum to receive money. Also 1.5% from account to bank via ACH or wire. |
- |
60,000 |
(PayCash) Russia, Latvia, Ukraine, and US (Cyphermint.com) |
