Does PayPal finally have an Alternative?
Ever since it's creation in March 2000, PayPal has been the payment method of choice for over 200 million users worldwide when shopping online. Whether it be an old boot from eBay, or a new kitchen, we have all heard of it, and most of us have an account! Even my mother has an account and that is saying something!
However far PayPal has come in the last 11 years, it is still packed with flaws, the main (in my eyes as a business owner using eBay frequently) is that you cannot have a debit card to access the account elsewhere. This means that business owners in particular have to pay fees on an additional bank account when PayPal is their main source of payment processing.
Another problem is that although it protects the buyer from being scammed (which it does VERY well I must admit), there is little protection for the seller. Many times I have had to send out the product, only to find that PayPal has taken the money back from my account and given it to the customer as a refund, when I know darn well that they also have the product.
Hopefully this might be about to change. When browsing the Internet this morning I came across an interesting site called paybox.me. These guys are basically laying the groundwork to set up a PayPal alternative, offering the same service plus some additional features which really caught my attention!
PayBox.me was started as an idea in September 2010, and now (January 2011) has already racked up a following of over 100,000 users. They are aiming to hit 2-5 million users so that they can launch the service properly. Features include your standard PayPal-style merchant stuff, such as sending money instantly using usernames/email, and adding funds and withdrawing to a normal bank account. However they are adding the unrivalled functionality of a debit card linked to the account, that can be used not only online, but offline too at many high street venues. Put simply, this means that if you sell your old socks for £3.39 on ebay, you do not have to wait 5 working days to get that money out, you can go straight down to the pub and spend it using your PayBox Debit card and pin...
All sounds fantastic to me! The best thing of all at the moment is that they realise not only how much money this will make for themselves, but that in order to work, people need to sign up. Without users the service will fail so they are giving everyone who signs up $25 for FREE!
Check it out and see for yourselves. What have you got to lose!
Don't forget that you can find out more great Internet tips and information by following me on twitter @bobcat_media or by searching for bobcat media on facebook.
Until next time.
Callum
[Internet Marketer & Web Design Guru @ BobCat Media]
Questions and Answers
Article Tags:
internet payments
,paypal
,paybox
,eccommerce
,website payments
,payment gateway
,online merchants
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