Noca will drop profits of PayPal, Google Checkout and Amazon Payments?

Noca online payment system that has initially been designed as a micro-payment processor working via two Facebook applications, OneClickPay and HelpYourWorld, has announced the launch of a new service enabling the users to make any payments regardless the amount. Usually the consumers using credit cards have to pay 2-3% and $0.30 as a transaction fee. The main advantage of Noca payment solution is low fees. Unlike such giants of online payment processing market like Google Checkout, PayPal or Amazon Flexible Payment Service Noca bypasses the high fees of credit card companies and charges only 0.25% without any $0.30 fee. Payments made via banks reach the merchants within 1-2 business days. 

The founders of the system, ex-Visa employees, assure that the clients can feel calm for their ID data since Noca uses not credit cards but debit cards that enable the money go directly from the buyer's checking/savings account to the merchant. To make a payment user needs to enter account and routing numbers into a virtual check, then the system sends a text message with a code to the user's cell phone, who completes the transaction by inputting the data received.

Source: techcrunch.com