Alternative Payment Systems

Detailed comparisons of online checks and wallet payment systems: a 'demo' version of our e-book resources.

Using Online Checks and Wallet Systems.

You may lose half your potential business if you don't take alternatives to online credit cards.

You'll have to visit the sites/contact the companies concerned for details of the existing range of online check and secure payment services. These fall into several categories. Some schemes provide a secure wallet, into which a customer can put funds for the merchant to withdraw, without credit card details being divulged. Some allow telephone billing. In others, a name, address, check number, routing/sort code and account number are keyed in by the customer, and a cashable check is printed out at the merchant's terminal. A few schemes will also convert the check to a full electronic payment, usually for an additional fee.

 

Online checks are most popular in the States and Canada, though banks even here can impose additional charges for such check processing. You'll want to discuss matters with the people you normally bank with. Since services are continually being added, and rates adjusted, often without notice, you should not limit your investigations to what appears your best bet in the table below.

	system supplier	setup / software	monthly fees	transaction fees (from)		transaction fees (to)		verification/ escrow service	extra fees	notes
		US $	US $	US cents	%	US cents	%
1	site	0	0	100	-	100	-	no	a	C US
2	site	0	0	295	-	500	2.25	no	-	A b
3	site	99	0	0	0	0	0	no	c	C
4	site	39.95	0	0	0	0	0	no	d	C
5	site	169 - 189	0	0	0	0	0	BDC	e	C E
6	site	inquire	inquire	inquire	inquire	inquire	inquire	-	-	D
7	site	0	-	inquire	inquire	inquire	inquire	-	-	W T
8	site	175	25	30	1.25	150	1.25	x	-	C
9	site	0	inquire	inquire	inquire	inquire	inquire	yes	-	C
10	site	0	0	0	1.0	30	2.9	n/a	-	W
11	site	0	inquire	inquire	inquire	inquire	inquire	-	-	T1
12	site	99	49.90	50	2.95	50	2.95	-	-	T
13	site	0	0	-	15.95	-	inquire	-	-	T
14	site	0	0	-	15	-	35	-	-	T
15	site	69.95-149.95	0	0	0	0	0	-	j	C
16	site	-	-	-	-	-	-	n/a	-	W g
17	site	0	14.95 h	50	0.046	50	0.065	-	i	-
18	site	-	-	-	-	-	-	-	-	k
19	site	1500	8333	0	0	0	0	-	-	US
20	site	0	0	0	0	0	0	-	y	C T UK
21	site	0	0	l	l	l	l	no	-	C UK
22	site	0	0	inquire	inquire	inquire	inquire	n/a	-	W
23	site	150	0	99	-	500	-	-	-	C
24	site	199	0	75	10.0	75	10.0	no	-	u
25	site	0	0	30	2.9	30	0.7	n/a	w	W
26	site	0	19.95	75	-	75	-	no	-	C US
27	site	0	10 +	15	-	25	-	no	m	C US
28	site	inquire	inquire	inquire	inquire	inquire	inquire	RCS	-	C
29	site	39.95 - 150	5 o	0	0	0	-	p	-	C q
30	site	0	0	-	13.5	-	30.0	no	-	C T
31	site	50 - 180	0	0	0	0	-	yes	r	C
32	site	inquire	inquire	inquire	inquire	inquire	inquire	-	-	C E s
33	site	inquire	inquire	inquire	inquire	inquire	inquire	yes	-	C t
34	site	0	0	0	0	0	0	no	-	W US
	key
	verification	BDC=bad debt collection service, RCS=returned service
	extra fees	a: NFS=$10, stop=$10, transfer limit $100, b: transaction fees apply to customer: no fees to merchant, c=needs security paper at 19 cents/sheet, d=needs paper at 5 cents/sheet, needs paper at 10 cents/sheet, e=also a leasing service at $19.95-29.95/month, f=needs own server + programming experience for implementation, g=secure cash payment by pre-purchase of $10 etc denominations, h=free for first 6 months, i:NSF=$25: buyers pay late settlement fee, j=needs paper at $20/125 sheets, k=micropayments system for digital content: fees on application, l=fees charged on loading account (£0.99) and withdrawing (higher of £0.99 or 1.0%), m= transactions with verification cost 87 to 146 cents, m=various options including free number of transactions, n=needs paper at 10 cents/sheet, o=secure hosting for Pro ($150) only, p=third parties can supply fraud filter, q=requires MS Word, r= paper is 8 cents/sheet, s=range of services, including e-checks, t=electronic payment conversion, u=customer needs to install s/w, v=fee on conversion to and from currency is 2-10%: see details on site, w=additional 1% transaction fee for overseas transfers, x=verification is 1.25% + 60-150 cents, y=smartcreds and billing at premium telephone rates: details on website, z=specializes in southeast Asia transactions; fees in Singapore dollars.
	notes	A=for auctions only, C=online s, D=electronic payments systems for digital documents, E=electronic transfer service, T=includes telephone billing, UK=UK only, US=USA only, W1=wallet system involving purchased electronic checks

 

Please note that this is a 'demo' page only: you'll need our e-book to get proper links for the sites listed.

 

Company  | Disclaimer  | Email

Copyright © 2002 2003 2004 2005 2006 2007 2008 LitLangs All Rights Reserved