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PayWeb Payment System

Description of payment system PayWeb, how to exchange Pay Web There is no doubt that the internet has revolutionized various aspects of our lives. Today, the internet is a global marketplace where innumerable amounts of money exchange hands every second across the globe. The convenience that the web brings in terms of payment processing certainly will assuredly have some negative effects as well. The main concern with online payment processing is security. Payment solutions online are constantly under attack from hackers and cyber criminals. Besides individuals who may be looking to breach security for unauthorized access and use of funds, there is also the issue of scams. Internet scams are rife and should be seriously considered before someone chooses to pull out their credit card.

When choosing a payment processor, another important aspect is fees. The payment processor niche has become fairly competitive over the years which have resulted in reasonable pricing by most processors. When it comes to payment processors, the most expensive or most popular may not necessarily be the best. Different processors have different pricing schemes. Some of them require a start-up fee to simply open up the account however most services offer the account for free while transactions have fees associated with them which would either be a fixed value or percentage of the transaction.

Another thing to look in to is customer service. While there are several services where customer service is unimportant, with payment processing; adequate, quick response is essential as it could result in potentially losing money. Another thing to look into is the type of services entertained by the processor. This is particularly important if you provide a service or are in a line of business that is considered unconventional.

Your choice of payment processor should be based on the aforementioned factors. One relatively new service that has been generating quite a bit of buzz in recent times is Payweb. On the surface Payweb may seem just like any other payment processor but the service has a few key features that could make payment processing online a lot more versatile and easier.

Payweb provides all the typical features of a payment processor. It is available in three account types. Personal purposes, business purposes or a separate debit card account. Payweb provides the feature of acquiring a debit card to conveniently withdraw money anywhere in the world at any ATM directly from your Payweb account. Furthermore, the debit card can be swiped at any POS terminal that accepts VISA (which is virtually every terminal) for free of charge! So you can potentially utilize the account for free without any transaction fees. There is however, a monthly maintenance fee of $3. ATM withdrawals are also possible and costs $2 which is quite standard for online debit cards.

One of the main inconveniences of online payment solutions is that they cannot be directly used with banks. The incompatibility with actual banks can make it quite nerve wracking. This is where Payweb can be highly beneficial, specifically if you require fast service. Payweb provides the option of opening up an actual bank account and perform all the functions offered by an actual bank account. This includes the possibility of making wire transfers, an actual bank account number as well as other benefits. The bank is completely virtual and web based making it even more convenient. With the online bank account, it is possible to securely make transactions. Note that the account is tied to an actual, established bank (Loyal Bank) so security shouldn’t be a concern.

Payweb is not as popular as some other payment solutions which ensure that customer service will be top notch with quick communication on a personal level. Localized customer service is available in a number of countries from Belize to Cyprus with the United States as well of course. Another benefit of Payweb is the very specific tiers with pricing. Pricing varies depending on a number of factors and while other payment processors have this variation as well, Payweb explicitly mentions even the subtle differences with price. It also provides minor features to boost security such as the option of protecting your transactions with email or sms verification.

Unlike other payment processors which may only be suited to a customer in certain situations, Payweb’s broad range of services makes it an ideal solution for the casual online shopper or for the ambitious internet entrepreneur.

Payweb can also be a lucrative option if you are an affiliate marketer. Payweb pays per transaction rather than a fixed amount per referral like other payment processors. Acquiring a sizeable number of active referrals would result in a reasonable stream of passive income.

Ideally, Payweb may not be the best option if you are an avid shopper online as most websites don’t accept Payweb yet. You do however have the option of acquiring a debit card and using that for purchases making it compatible with virtually every shopping site.

In terms of drawbacks, the obvious drawback is its lack of popularity however this will assuredly change over time as more people learn of the service and embrace its unique aspects. Another disadvantage may be the limited options available for loading money to your account. Payweb does not accept credit cards for loading money to the account which can be a hassle if you need to load funds in haste. Registration takes only a second and you will have a secure, convenient option for processing payments online in a matter of minutes.

The ideal payment processor has to satisfy an array of requirements depending on your needs, Payweb may not be for everyone but It certainly does have the characteristics of a successful payment processor; economical, safe and trustworthy.

© – 05/04/2012
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