eCommerce Journal - Learning more about virtual economy - News, Payment systems

E-gold... The End

lexus — Thu, 24 Jul 2008 21:49:18 +0200

E-gold caricature, cartoon, parody. Copyright www.Ecommerce-Journal.com ©

WebMoney changes its policy and kills the exchange business

ayny — Thu, 24 Jul 2008 14:38:31 +0200

WebMoney is very concerned about its reputation and the security of its users. In view of this the system announced some changes that are intended to improve the service and to protect the users. In order to ban and exclude WebMoney Transfer System from attempts of illegal usage and fraud as well as to avoid causing of any potential damages to its users, the System announces changes to its policies and hereby amends the Agreement on Property Rights Transfer by Means Of Digital Units, as the official website reports .

More merchants appreciate advantages available with eBillme

ayny — Thu, 24 Jul 2008 12:56:06 +0200

Five more online retail sites decided to select the secure cash checkout option offered by eBillme, the alternative payment option that leverages online banking for eCommerce checkout. This choice seems more cost-effective in light of high interest fees on credit cards usage. With eBillme Internet retailers are able to offer their customers a secure and protected way to pay cash online with the ability to better manage their money.

Attention: new offer from PayPal!!!

ayny — Wed, 23 Jul 2008 17:51:25 +0200

Fees exemption action is taking place at PayPal which is going to grant a year's worth of eBay insertion, final value and PayPal fees to one of eBay’s sellers in the UK every month for the remainder of 2008.

Thus a seller agreeing to use PayPal exclusively on eBay will have an opportunity to obtain a year's worth of free fees up to 30,000 pounds.

WebMoney updates its WM Keeper

ayny — Wed, 23 Jul 2008 16:14:55 +0200

WebMoney payment system announced the update of its WM Keeper Mobile: now it is possible to read and send WM-messages.

Those who have registered and got their WMid in Telepat system will get this option automatically. Those customers who have Classic- or Light- purses should enter their account (in the top right) into the section Wallets/WMid and set WM-correspondence option manually.

Another one in a long list to value MyECheck’s solutions

ayny — Wed, 23 Jul 2008 12:27:33 +0200

Ranger Supply Store became one of the customers of MyECheck Inc., an electronic transaction processor and provider of alternative payment solutions. MyECheck Inc. & CardinalCommerce signed Ranger Supply Store to the MyECheck Online Service. Under the agreement concluded between the two parties MyECheck Inc. is to provide the online retailer with its comprehensive suite of electronic check processing services.

Douglas Jackson from e-gold about money laundering and the coming changes

ayny — Tue, 22 Jul 2008 15:30:38 +0200

In a recent press release Douglas Jackson, CEO of e-gold expressed his regret regarding the criminal incidents that had an adverse effect on the company’s reputation and advised about some innovations planned to be introduced to make the work of e-gold more efficient and secure.

E-gold faces new charges. Is it a beginning of the end?

ayny — Tue, 22 Jul 2008 15:27:55 +0200

One of the oldest and the most recognizable payment systems E-Gold Ltd. or just E-Gold together with its three principal directors and owners is charged with money laundering and conducting of illegal money transfer operations. This statement was made by Acting Assistant Attorney General Matthew Friedrich for the Criminal Division and U.S. Attorney for the District of Columbia Jeffrey A. Taylor reports www.usdoj.gov.

PayAPI 2.0 web service to be deployed by Sentinel

ayny — Tue, 22 Jul 2008 14:44:20 +0200

Sentinel Development, receivables management software provider is determined to deploy PayAPI 2.0 web service of Autoscribe, electronic payment processor. With the new feature users of the Sentinel's collection management software eCollections will be provided the access to Payment Vision gateway services which concentrate payments captured at various windows including IVR, internet and call centers.

Equens gains a higher status

ayny — Tue, 22 Jul 2008 14:42:50 +0200

Yesterday Equens, one of the largest payment processors in Europe, was transformed into a Societas Europaea and became Equens SE. The new company is the result of the legal mergers of Equens Nederland B.V. and the German Equens Deutschland AG into the holding Equens N.V., followed by the conversion into a Societas Europaea.

Yodlee PayToday is ready to integrate into existing solutions

ayny — Tue, 22 Jul 2008 14:00:56 +0200

According to the official sources Yodlee PayToday, a payment solution of Yodlee, from now can be used as a revenue generating addition to the banking website of any financial institution. Yodlee is sure that, owing to Yodlee PayToday option, the financial institutions can take immediate advantage of the opportunity to generate new fee revenue by offering their customers the convenience of guaranteed,

TrialPay payment solution to be honored at the AlwaysOn & STVP Summit

ayny — Mon, 21 Jul 2008 15:40:14 +0200

Last week AlwaysOn selected TrialPay as one of the AO Global 250 Winners. TrialPay represents the payment option that gives online shoppers what they want, for free, simply by buying or trying something else from one of their favorite brands. The choice of AlwaysOn editorial team and other industry experts across the globe was based on innovation, market potential, commercialization, stakeholder value and media buzz criteria.

Obopay changes its fees and removes bank transfer

ayny — Mon, 21 Jul 2008 13:41:30 +0200

A well-known payment system, Obopay, has announced about some changes in fees. So, according to the official statement Obopay will increase its transaction fees charged for money sending. At the moment this fee is $0.10, but on August 7 it will change to $0.25.

But it is not the only changes applied in the system. Obopay disables the instant bank transfer feature which was introduced earlier in March.

All the changes have already been fixed in the new terms and conditions which will come into force on August 7.

PayPal option to purchase skin care products

ayny — Mon, 21 Jul 2008 11:11:23 +0200

Customers buying skin care products (including makup, anti-aging, body care, hair care, lip care, and beauty tools) offered at DermatologistRX now can make payments for their orders using PayPal payments system. Other payment options available to the customers of DermatologistRX are Google Checkout, Visa, MasterCard, Discover, and American Express.

Lonely? Get your pet with Google Checkout

ayny — Mon, 21 Jul 2008 10:54:23 +0200

Google Checkout payment option will be offered to customers of GregRobert Pet Supplies, a market leader in the discount pet supply industry. Advantages available with Google Checkout will make payments easier and faster for GregRobert consumers.

PayEasy gives Filipinos an access to Chinese economy

ayny — Fri, 18 Jul 2008 15:14:29 +0200

Not so long ago Mozcom PayEasy Online Payment System or simply "PayEasy" has enbled online merchants in Philippines to tap into Chinese economy by using China UnionPay (CUP) ATM Debit Cards which will be accepted by any PayEasy-affiliated merchant.

PayPal enhances its merchant base

ayny — Fri, 18 Jul 2008 15:05:59 +0200

At present time online merchants account for about half of PayPal’s volume which is the result of multiyear efforts of the processor to increase the number of merchants using its online payments processing services. The reports published this week by eBay show that PayPal processed $7.26 billion in merchant based business which is 48.6% of the total volume of $14.93 billion processed in the second quarter.

ClickBank introduces direct deposits

ayny — Thu, 17 Jul 2008 09:41:21 +0200

Direct deposit option was introduced into the set of services provided by ClickBank, a privately held online retailer for buyers and sellers of digitally delivered products and services. The option is destined for qualified ClickBank users to receive commission and sales payments.

MyECheck will become a processor of Mentor Public Schools

ayny — Wed, 16 Jul 2008 15:24:23 +0200

A promising electronic transaction processor and provider of alternative payment solutions MyECheck Inc. has partnered and provided its software to Mentor Public Schools, an Ohio School District, which unites 14 schools including elementary, middle and high schools.

It wasn not a surprise as earlier MyECheck has announced the signing of the contract and its intentions to implement the software within 5 days following the signing.

PlaySpan Inc. becomes the owner of PayByCash

ayny — Wed, 16 Jul 2008 15:23:08 +0200

PayByCash, a leading alternative payment system has been purchased by PlaySpan Inc. and now two entities are planning to become a company to meet all the needs of game publishers for a complete commerce and payments platform.

PayByCash has gained a solid reputation in the world of online gamers and is considered one of the most reliable processors of its kind.

Barclaycard US hires away the officials of American Express

ayny — Wed, 16 Jul 2008 11:58:57 +0200

The place of Chief Information Officer (CIO) for Barclaycard US, the credit card business of Barclays PLC in the United States was recently taken by Phillip W. Steitz who previously worked as Senior Vice President and Chief Technology Officer for American Express.

Traveldaily will pay with BilltoBill

ayny — Tue, 15 Jul 2008 14:45:13 +0200

Traveldaily, a leading online publisher in China has announced it had integrated with the secure and international standard payment platform, BilltoBill, to provide payment options to the international delegates. Due to the agreement with BilltoBill owned by FCPB Investments Limited, the attendees are enabled to use major international credit cards for payments either online or offline (in case of no registrations).

Paymate gripes about eBay and PayPal

ayny — Mon, 14 Jul 2008 14:48:07 +0200

A new complaint against eBay was lodged last week with the Australian Competition and Consumer Commission (ACCC) by an online payment service, Paymate, a PayPal competitor. The payment processor claims that eBay is acting against the Trade Practices Act.

In May eBay entered amendments into its user agreement requiring sellers to include PayPal as one of their payment methods for each listing.

PaySimple gets a new vice president

ayny — Mon, 14 Jul 2008 12:57:44 +0200

Last week a known payment processor, PaySimple, has announced that Sherri Hammons was appointed to the post of vice president of engineering. Now this lady will deal with the company product development and technology roadmap. Also Sherri Hammons will be responsible for the engineering team.

iPhone, iPod Touch and PayPal Mobile - a new formula of success

ayny — Fri, 11 Jul 2008 17:47:49 +0200

Users of iPhone and iPod Touch now will be provided with PayPal Mobile application available from the Apple App Store. After downloading the application for free users can send money to friends and family quickly via their PayPal accounts.

"The iPhone is a great platform for PayPal," said Jack Stephenson, Senior Vice President of Strategy and New Ventures. "This new application makes it easy and fun to send money to anyone with just a few screen touches."

GlobalCollect for the great readers

ayny — Fri, 11 Jul 2008 16:55:18 +0200

A known company GlobalCollect will provide Zinio, the digital publisher of magazines and books with payment options via its WebCollect, online payment platform. Owing to this option the subscribers of Zinio will be able to pay for the purchases online on the website.

WebCollect will allow Zinio’s customers to select payment method to pay for their online subscriptions and purchases. Until that moment the customers could pay only with their credit cards such as Visa, MasterCard, American Express and JCB. Additional options include Direct Debits and the national cards Maestro and Solo.

Online gamers appeal to Alipay

ayny — Fri, 11 Jul 2008 15:31:26 +0200

New relationship was established between China's leading third-party online payment services provider Alipay.com Co., Ltd. and Chinese online game operator Giant Interactive Group Inc. Under the terms of their agreement Alipay.com is to improve online payment system of the game operator.

99Bill Corporation is to launch Automatic Reload payment service

ayny — Fri, 11 Jul 2008 12:34:28 +0200

99Bill Corporation, a leading independent electronic payment services provider in China, will formally release Automatic Reload payment service at the Sixth China Digital Entertainment Expo & Conference (ChinaJoy), which will be held in Shanghai New International Expo Center during July 17-19.

Fake press release. E-gold denies all the rumours about its bankcruptcy

ayny — Thu, 10 Jul 2008 19:32:33 +0200

The press release issued on July 7, 2008 appeared to be a fake. This information became came from the official blog of the system where the founder and chairman of the system Douglas Jackson has made an official statement. According to him the whole publication was a fraud and groundless.

Liberty Reserve is not available. What do they scheme?

ayny — Thu, 10 Jul 2008 18:14:30 +0200

One of the most popular payment systems Liberty Reserve is not available these days. ?ut unlike other downtimes this time it was announced beforehand. The official blog of the processor has announced some maintenence works.

So, last week Liberty Reserve announced about new solution for their members to store gold. The company is being introduced the allocated storage along with the upgrades of the site software.