PayPal Alternatives: For General Use
PayPal Alternatives are divided into TWO groups: (1) those you can use with eBay and (2) those you cannot use with eBay. Some of the PayPal Alternatives that you can use with eBay, can also be used for general purposes. That means, you can use them for your online business or to send money person-to-person. The problem is, eBay has limited what payments services you can use on its website. The services they allow may not be everything that you are looking for. So, you must consider all the other viable PayPal alternatives out there to meeting your specific needs.
In this section, we will be covering many PayPal alternatives that do what PayPal does, but normally CANNOT be used in conjunction with your eBay activities (you can complain directly to eBay).
This website is full of good reasons as to why you should not use PayPal. If you have found this website, chances are you already have PayPal problems and have seen first hand the devastating effects PayPal can have on your business and your finances in general. PayPal is a company that you cannot rely on. This website -- as with any anti-PayPal website -- would be making a grave error in not offering alternatives to its visitors. Why? Because life goes on -- you go on. You still have to sell stuff or buy stuff on eBay, you still have to make a living and be able to send and receive money easily without a lot of hassles. You have to do all of these things -- without PayPal. Screw-PayPal.com is pleased to present you with numerous general alternatives to PayPal. You don't have to spend hours or days searching for a way to replace PayPal in your life. This website has done it all for you!
**If there is a service or product out there that you think SHOULD BE ADDED TO THIS LIST, CONTACT US with your information and we will review your pick. If your pick meets certain standards, we will list it here**
MARCH 2010: GET IT BEFORE IT'S GONE! PayPal froze your account? Learn the secrets that will help you avoid getting your account frozen, help you get your account back or help you open a new PayPal account even if you had trouble with PayPal before. The PayPal Survival Guide will show you:- How to open a new anonymous Paypal account
- Sell ANYTHING from ANYWHERE without PayPal knowing
- Get a new account without Paypal linking it to your old account
- Become PayPal verified without revealing your personal info
- Prevent PayPal from ever tracking and tracing you
- Never have your Paypal account Restricted or Frozen
- Withdraw money from Paypal into ANYONE'S Bank Account
- Prevent your eBay and PayPal accounts from ever cross-linking
- Pass routine account verification process's with a breeze
- Stop Paypal from ever knowing what your selling
- Eliminate Frozen accounts for Good
ePayPal Alternatives: For General Us
- Google Checkout
- PayPay
- Firepay
- Neteller
- Ikobo
- 2CheckOut
- StormPay
- AltertPay
- AnyPay
- AuctionChex
- E-gold
- GreenZap
- MoneyGram
- Payko
- CCAvenue
- eHotPay (NOT REVIEWED -- OUT OF BUSINESS)
- FastCash (NOT REVIEWED -- OUT OF BUSINESS)
- Qchex (NOT REVIEWED -- OUT OF BUSINESS)
- PayPal Alternatives: For Use on eBay
Google Checkout -- Recommended for ALL
The company that administers this program needs no introduction. Google is a rock solid company whose reach spans the entire globe. The company's financials put them in the top 10 most of America's most valuable companies. Google Checkout is clearly Google's answer to PayPal. It is doubtful Google would have started this service had PayPal been burdened with so few "problems." This service was started as a direct challenge to PayPal: Since you guys cannot provide a top notch service, we will. Google's answer is Google Checkout. Launched in mid 2006, this service allows users to pay for goods online, for sellers to receive payments online, and of course be able to send money person to person. Right now, Checkout has user agreements for over 10 countries -- if your country is NOT listed, you can still signup!
THE SERVICE: Not only is Google Checkout NOT PayPal, Checkout is the real deal and TOTAL PACKAGE. The only thing missing is their ability to be able to be used as a payment alternative on eBay (that is sure to come in time when a decision is reached on the current anti-trust lawsuit against eBay). Here is how the service works: You go to Google.com and login to your page. Then you choose to signup for Checkout. Once there, buyers can surf the internet and make payments to ANY business (online or bricks-and-mortar) that accepts Google Checkout. Buyers use the service free. For sellers, they can integrate Google Checkout into their website or online business. Google lets you use buttons, email links and other features to allow buyers to send their payments. Checking out is so easy, no instructions are needed. If you want to send money to somebody, you can do it with Google Checkout as well. The control panel is well designed and easy to navigate. Funds were taken out of our Google Checkout account with no problems. Funds were deposited with no problems. Customer service is available via email. No phone support is currently available. Fraud protection for both buyers and sellers is excellent -- and there are no worries about frozen accounts or limited access. Google does protect against fraud, so fraudsters watch out! For the rest of us, we don't have to worry.
PROS: The service is 100% free -- yup, for sellers as well. Until 2008, all seller transactions are fee and commission free! Buyers will always get the service for free. The signup process is easy with a limited amount of information that you must provide. Buyers can use this service without any problems. Funding their Google Checkout account is simple and fast. Sellers can use this service in so many ways! Google Checkout is accepted on all the major auction sites (except eBay), Checkout is perfect for online businesses and websites. All a seller has to do is put the payment buttons in place and let the buyers do the rest. People can send money to each other as well. The control panel is well designed and easy to find. Customer service takes about 24 hours to get back to you. All emails are read and all emails relate to what was asked. The user agreements for the countries available (example: United States, United Kingdom, Canada, China, Japan, etc.) are written with the customer in mind. The user agreement for all other countries is general because of the lack of jurisdiction, but it is fair. One can only get excited when thinking about new features Checkout will be rolling out in the months and years to come.
CONS: Not available on eBay -- yet. No phone support. Not known how Google users your information in relation to its Google Search feature. While backed by a strong company, this service is only a year old. It will take another couple years to work out the kinks and expand services.
OVERALL: Excellent e-commerce solution backed by a solid company. While still growing, Google Checkout can be used by residents of every major market in the world. Online sellers, websites looking for ways to accept donations, auction sellers (all except eBay), and online buyers can find an excellent home with Google Checkout. Recommended for ALL.
NO LINK TO Google Checkout: You must go to Google's homepage and login to your user account.
PayPay is another service that would fit great as an eBay payment alternative. I think this is the only reason why it is not allowed on eBay -- it could make a dent in some of PayPal's business. PayPay is a service that offers a total package that every user could need. If you had to make a choice to use this service or only one other service right now, PayPay would be an excellent choice. PayPay lets users send and receive money using their PayPay accounts (even receive through email, SMS, bank accounts, online or through payment buttons). The bottom line is: you can send and receive money anywhere, anyplace using your PayPay account.
THE SERVICE: PayPay offers free business and personal accounts. Buying using the PayPay service is always free. A buyer (who doesn't even have to have a PayPay account) makes their payment via a payment button a seller posts on his or her auction or website, makes their payment from phone to phone or email to email. You can even download their fee desktop software to keep track of everything -- including sending and receiving payments! Sellers have so many flexible options to receive payments, there are too many to list here. You get all the PayPay buttons you can handle -- all customizable. The system then walks your buyer through the short payment process. This service can be used on many auction sites (not eBay), personal websites, business websites and so much more. The service is available in ALMOST as many countries as PayPal. A user can withdraw his or her funds as often as they like via check or directly into their bank account.
PROS: Very easy to register and use -- users can sign up and be using the service in under ten minutes. Business and personal accounts are free. The service is available to an international audience. The whole service is designed towards meeting the needs of buyers and sellers. Fees are low and comparable with PayPal fees. A seller can make a profit using this service without the worry of high fees. Buyers can use this service free. Money can be sent person-to-person (like PayPal). Somebody who wants to use this service to send money to others, sell products online only need this one service as a total package solution. Very well designed user interface. Responsive customer service and customer oriented terms of use. Unlike any other service out there -- including PayPal -- you can download free software to your desktop that will monitor any changes in your account as well as you being able to actually work within your account from your desktop. A great feature. Plus, you get a merchant tools area. Very practical.
CONS: Not available for use on eBay.
OVERALL: Highly recommended to ALL. This service is a small hidden gem that will only get better with time. Should it ever be allowed for use on eBay, it would give PayPal a run for its money. If you have to make ONE choice only, this service is the total package. Perfect for online sellers and buyers. Perfect for persons who want to send money person-to-person.
This service is available to residents of the United States, Canada and the United Kingdom. The FirePay service is run by a reputable British company licensed by the Financial Services Authority (that is good). FirePay allows users to make online payments -- it offers sellers the chance to accept online payments. The service is very fraud oriented with many features designed to beat scam artists -- and many ways for the innocent to become entrapped as well. FirePay, a division of SureFire Commerce, has the complaints to prove it.
THE SERVICE: The service is available to residents of the United States, Canada and the United Kingdom. Buyers signup for the service and fund their FirePay account with money from their bank account (credit cards are not allowed). From there, buyers are able to make online payments only to merchants that also have a FirePay account. Sellers can use this service to receive payments from other FirePay account holders only.
PROS: Very security oriented -- this is due to the signup process and other features. If a user doesn't mind having a very limited audience to do business with, this service is okay.
CONS: Not available to a wide audience -- in fact even though it is offered in three major markets, your potential for buying or making a sale is limited by how many people are signed up with FirePay (1.2 million right now). Complicated signup process. In the middle of signing up, you get an automated call to the telephone number you give and must put in a code you are given during signup to verify your phone. Then, based on your social security number (or state ID number), FirePay checks your credit report -- and based on that report asks three questions that only you would know (previous address, how much you financed your car for, credit limit, etc.). Then, FirePay will take an amount of money out of your bank account (they do not tell you how much) in order to verify the account is yours. If you do not have enough money in your bank account to cover the withdrawal, FirePay charges you $25 US as a penalty. Sellers have it even worse: you have send your contact information to them. Somebody will personally get back to you to sign you up for this service. Too much trouble given the limited benefits of using this service. Users must pay 2 Dollars US each time they fund their accounts using their bank account (credit and debit cards are NOT allowed). Customer service is by email only and the user interface doesn't really inspire confidence. Fairly high seller fees as well. Using the service, reading the user agreement and bouncing from this warning to the next (with penalties listed) reeks to much of PayPal.
OVERALL: Not recommended for anybody to use. The service has limited benefits, is complicated and long to signup with and users must put up with fees at every corner. This service is PayPal's ugly 2nd cousin.
Neteller -- Recommended for ALL
Neteller is another United Kingdom based service owed by the NETELLER Group. This company is licensed and regulated by the Financial Services Authority. The Neteller service is available to an international audience. With this service, you can send money person-to-person or make online purchases. Sellers can accept online payments with this service through auction websites that accept Neteller or off a website.
THE SERVICE: This company -- traded on the London Stock Exchange -- offers an okay package of features. Users can signup to get their "e-wallet account" and start buying online. You can fund your account multiple ways and start buying from online sellers who accept the service. Second, you can send money person-to-person through the service. For sellers, if you are approved, you can start accepting online payments from those with Neteller accounts. Funds can be retrieved from your account three ways: by check, direct deposit to your bank account or a MasterCard provided to you by Neteller. Very practical.
PROS: The service is offered by a solid company that is publicly traded. The service offers users a lot of flexibility to get money in and out of the system. The MasterCard is a great way to be able to have access to what is in your e-wallet all of the time. Fees all around the board are reasonable and low. You can tell they are trying to make money by volume and not hitting a few customers with high fees to make money. Customer service is easy to find via email or telephone. Buyer and seller protection is strong and reasonable -- not obtrusive -- security is a strong point with this company. The service supports multiple currencies and multiple countries. The user agreement clearly spells out what your rights are and what the company's obligations are. No hidden or complicated clauses that could come back and haunt you later.
CONS: Not available on eBay. Telephone support is hard to get if you live anywhere but in the United Kingdom (who wants to pay international rates?). The service is limited by the number of members that it has -- if buyers could use the service without being an account holder, a seller would then have a truly international audience. The website was lacking in functionability -- it could be organized a little better.
OVERALL: Not a bad service to use -- but with all the other choices out there, this would not be my first pick. However, if for whatever reason you want to use this service, it can meet your needs. For these reasons, we can recommend this service for all to use.
Ikobo is a U.S. based company out of Atlanta, Georgia. They are a solid company that has been around since 2001. The focus of this service is international person-to-person money transfer. This service is NOT an ecommerce solution -- in other words, you don't want to sign up for this service to be able to receive money for online payments. If one is clever, you could use it for this purpose. However, with other services out there, there is no need to do this.
THE SERVICE: Ikobo is an interesting service. It is not your traditional "PayPal" like company nor your traditional "Western Union" like company either. A user will sign up for a free Ikobo account. You can fund your account with a credit card or with your bank account. If you want to send money to somebody, you can sent it to their email address (similar system to PayPal) or, if they already have an Ikobo account, directly to their account. If you are receiving your FIRST PAYMENT ever with Ikobo, the person sending you the money will also pay a $2 US charge to send you an Ikobo MasterCard. From that point on, you will be able to access the money from your Ikobo account via your Ikobo MasterCard. That means your money is available to you 24 hours per day. You can use your card like any other credit card. All Ikobo customers end up with a card. A user could use the service to accept donations or light volume payments from his or her website. High volume will not work with this service.
PROS: Run by a solid company. The MasterCard gives one a very convenient way to access the money in their account. You can send money to somebody even if they do not have an Ikobo account. You can send money to somebody even if the do not have an account. A clever system for sending money all over the globe person-to-person. Well designed website with a customer friendly user interface. Signup is easy and quick -- you won't run into any complications. Once signed up, sending and receiving money was easy to do. Withdrawals and payments received were made without any account limitations or security warnings. The service was able to be used to collect light donation volumes and light payment volumes for online sales (even though the service was not designed with that in mind). The Ikobo MasterCard fees are low, low, low (only a .99 cents US monthly administrative fee -- every other use of the card is FREE).
CONS: Not a great PayPal alternative for most people. If you want to transfer money to somebody, the fees can be rather high (example: send $100 for an $8 fee). That is why this service cannot be recommended to most people. Not an online ecommerce solution for sellers. Customer service was responsive but could improve.
OVERALL: We recommend this service for SOME because of its limited uses in receiving online business payments. We know that there are people out there who are looking for an alternative to places like Western Union. When you want to send money to somebody, and be able to receive money, Ikobo is a great way to go. Finally, it is rumored that Ikobo is going to be expanding its business towards a more "PayPal" like system -- allowing users to accept online payments, payment buttons, etc. A system change like that would do away with the kind of fees they are charging right now. This company is a diamond in the rough.
2Checkout is an Ohio, United States based business. This company is solid and have been around since 1991 offer various ecommerce solutions to online retailers and offline retailers. This is an ecommerce solution with a twist: you have to sell the items they want you to sell. In other words, you sign up with them for a merchant account (you can accept online payments), then you must pick from a long list of suppliers (that they supply) and you sell it for them. The additional twist here is while you get out there and sell the products, they handle the rest. You must operate your website, collect payments and then send your orders to them. They will then ship the item for you (minus all of their fees for the merchant account and for the actual product).
THE SERVICE: You sign up for your merchant account and wait for approval. When you are approved, you get to pick the products that you want to sell from their supplier list. They help you every step of the way: from selecting your products, to setting up your website all the way to when the product reaches your customer's door. You are allowed sell your own personal services and products as well -- as long as they are not on their restricted list.
PROS: A solid company that has been around for a long time. A great way to start a business if this is your first time attempting it. Very low merchant fees -- much lower than your traditional merchant account. Outstanding customer support that will help you through every step of the process and beyond. Customer support is available by telephone, chat, or email 24 hours per day. Money is deposited straight into your bank account. Excellent fraud protection. Huge product list and supplier list. Your control panel and user interface is packed with features and are easy to use. The service is available to international users.
CONS: Not at all a viable PayPal alternative. This service is not for your average user. There is a $49 US one time signup fee. The user agreement reads like an encyclopedia. The whole system appears complicated until you take the time to learn it. You cannot send money person-to-person. You must apply for the service to use it -- you can either be accepted or denied (good credit is a requirement).
OVERALL: We cannot flat out recommend this service. The service being offered is so specialized that is appeal will only generate to a very limited and specific audience. That audience probably does not include you. However, for the money that you end up paying, it is a good opportunity to get your feet wet in the online business world. Good place to go to startup an online business.
StormPay -- Not Recommended to ANYBODY for ANY REASON
NOTE: Due to the fact that StormPay was NOT taking new members at the time of this review, Screw-PayPal.com did not receive the opportunity to fully review this service by trying it out. Second, our emails and phone calls to StormPay were not returned when we informed them of our intentions to review their service. Therefore, this review is based on information we were able to find through our own means. To ensure fairness, we reviewed as much information as possible before making our final recommendation.
StormPay is a Tennessee, United States based company. The company started operations in 2002 by a man who first used the service for an illegal ponzi/pyramid scheme. He was ordered to cease and desist by state authorities. The company itself is unstable with questionable financial resources and questionable accounting. The service does not accept credit cards because of massive billing disputes and chargebacks it had received in the recent past. Additionally, the company frozen huge numbers of accounts and did not give users their money back after the 180 day period outlined in their user agreement -- because the company did not actually have the money to pay back. StormPay is accused of spending the money on its Tennessee race track that it heavily promotes. The company has also recently ran into the trouble with the American Securities and Exchange Commission as well as holding the honor of receiving the most Better Business Bureau complaints for the entire state of Tennessee. The service is used for transferring money person-to-person and as the sole payment processor for its online auction site StormPay Auctions.
THE SERVICE: Currently, this service is available to allow anybody with an email address to buy or sell online auction items (at StormPay Auctions). Users sign up for a free account in order to set the service up for themselves.
SCREEN SHOT for StormPay Auction Site
PROS: There are none -- unless you are a scam artist. For scam artists, StormPay is perfect: their user agreement offers NO buyer protection at all. Since credit cards are NOT accepted, buyers have no way of getting their money back.
CONS: Not only is the service StormPay offers practically useless to the general public, the service is backed by a company so shady and unstable, I would not be surprised if it were found out the company was run by hamsters. Credit cards are not accepted. StormPay only allows their own service on the auction site. No buyer or seller protection at all. Fees associated with using the StormPay system are beyond outrageous. Once you put your money into the service, StormPay, like PayPal can freeze your account at anytime and for any reason per the user agreement. However, unlike PayPal, there is a good chance that once your account is frozen, you will not be able to get your money back out. To date, thousands of customers who have had their accounts frozen were not given their money back after the 180 day period.
OVERALL: While this service may have its uses, the company's shady past, current business practices, unstable business model and numerous customer complaints make this a company to stay far, far, far away from. We cannot recommend this service to anyone.
AlertPay -- Recommended to ALL
While this service has been around only since 2004, it seems very promising. This company is headquarted in Montreal, Canada and is pretty close to offering a "total package" service. With AlertPay you can send money to anyone with an email address and accept payments online via auction sites (not eBay) or your online business. If you need to send money, make an online payment, be able to receive money, or receive online payments from customers around the world for your product or service, AlertPay can fill your needs.This is another service that could take away significant business from PayPal were it allowed on eBay.
THE SERVICE: Users sign up for one of three accounts: a personal account, a business account, or a secure account. The secure account is a business account that lets you receive money for more "risky" products and services such as multi-level marketing and adult content. All accounts are free to sign up for. Users can send money person-to-person, member-to-nonmember, nonmember to member, make online payments and receive online payments for their services and products. The service is available to an international audience. The service allows you to have total flexibility in meeting your individual needs. Credit cards are not accepted for funding payments -- every other way of funding your account is available. Credit cards are accepted for buyers to make payments to online sellers.
PROS: This was a service that I looked forward to trying out. It met most of my expectations. All accounts are free to sign up for. Fees are low and not unreasonable. The service will be issuing VISA Debit Cards in the near future. Taking money out of your account is fast and easy. The method of taking money out of your AlertPay account differs from country to country. However, all major markets are served with bank deposits. Strong buyer and seller protection is offered -- including chargeback protection. AlertPay is a BBB member among other places. Sellers can use the service to receive online payments from a world wide audience for virtually any product or service they can think of. Buyers can pay for their product or service easily and with no hassle. Signing up with AlertPay is a quick and easy process. AlertPay is available for use by an international audience. The user agreement is written in plain English with no surprises. Customer support is excellent -- fast email replies and phone support. Customer support is done through email, a phone number (not free to call) or through snail mail. Finally, the website is well designed and user friendly. Excellent, but not obtrusive, security features.
CONS: The company has been around only since 2004. Not available for use on eBay. Customer support could be expensive to call should you ever need to call them (phone number is not free and is Canadian).
OVERALL: This service is a pleasure to use. If I had to dump most of the services that I use now, I would dump the others and keep this as one of my top PayPal alternatives. This service is awesome for both buyers and sellers. If you need something close to the "total package," AlertPay should be a service at the top of your list. Recommended for ALL to use.
AnyPay -- Recommended for MOST
AnyPay Inc. is a company that operates out of Montreal, Canada. AnyPay has been hiding in bushes since 2001 -- obviously they got started trying to get on the bandwagon that PayPal and BillPoint started. With AnyPay, you can send, request and receive money to and from anyone with an email address. The service is available to an international audience. The service also has an online payment account that merchants can use to accept online payments -- but that is a separate feature. The service is person-to-person payments and merchant accounts.
THE SERVICE: Signing up with AlertPay is free. AnyPay is divided into three kinds of accounts (you can integrate different account features into one account if you wish): there are personal accounts, business accounts and auction accounts. The personal accounts allow you to send and receive money from an email address. You can also make online payments to those who accept the AlertPay system. The business accounts allow you to receive payments of all kinds -- from around the world -- for your online business or website. The auction account is specialized to allow you to use AlertPay with auction listings (not eBay). Sellers can put the payment buttons into their auctions and buyers will be guided through the simple payment process. Sending money person-to-person is free. There are no fees. Making a direct payment to a merchant cost .25 cents US per transaction. There are separate fees if you wish to have a merchant account.
PROS: Personal accounts have no fees at all. Business accounts have really low fees that are much lower than what PayPal or any other company today offers. Signing up is fast. Users from around the world have access to this company's services. Taking money out of your account is done via check or direct bank deposit. Customer support is available via email or telephone (not free). The website is available in three major languages. Buyers and sellers can get a lot of use out of this service.
CONS: Merchant accounts are expensive. Up front fees leave this option only for the very serious business owner ($49 US application fee, $15 US per month statement, $15 US chargeback fee). Website has obvious spelling errors that should have been noticed and fixed.
OVERALL: Based on our use of this service we can recommend this to SOME people. Those persons who are looking for an easy and cheap way to be able to send money person-to-person or be able to accept payments online for low fees. While there are better services out there, there is nothing wrong with this particular service per se. It is safe and it is fast.
AuctionChex -- Not Recommended
This is a company based out of the United Kingdom. It has been around since 2000 dabbling in the auction market. What is most disturbing about this company is that eBay is mentioned at every corner, however this service is not available for use on eBay. The whole thing makes one think of a desperate groupee trying to please an idol that cares nothing for it. Either way, the whole site is geared towards processing auction payments for both buyers and sellers. It also has an escrow service and other auction tools to make listing auctions easier. However, remember, this service is NOT available for eBay which limits the use of the service severely.
THE SERVICE: Sellers can process auction payments through the service. Buyers can send their auction payments through the service. The company also features an escrow service for expensive items. Also, the company offers several buyer and seller tools that can be used with eBay -- like a search feature, price search, and other tools.
PROS: The company's heart seems to be in the right place. Fees are low to use the service and foreign currency exchange rates are competitive.
CONS: Not something for the average user looking for a true PayPal alternative. The system is somewhat complicated to learn and the uses of this service are limited to auctions. With the major auction market being the United States, there is no reason to use a British company as an escrow service. Plus there are numerous broken links on the website which does not inspire confidence -- if they cannot get such a simple thing right, what attention to detail will they use with your transactions? The auction tools that they offer are free to download at almost any free software download site. They are not really offering something special. The service accepts PayPal as a funding option.
OVERALL: The fact that there are so many easier services out there easier to learn and use, and coupled with the fact that this service is so auction oriented yet not offered on Ebay, makes this service one could skip easily. Not even close to being a viable alternative to PayPal. For those reasons, we cannot recommend this service to anyone.
e-gold is a Delaware, United States registred corporation with ties to the West Indies. It has been around in some form since 1996. Given the long history of this company, one has to wonder why the concept has not caught fire by now. Good ideas are picked up by the general public very fast -- then there are ideas that appeal only to a limited group of people. e-gold is one of those services that only a small amount of persons find useful. Instead of paying people with "real" money, the money you use to fund your account is exchanged into increments of real gold (e-gold). The idea is, the money you put in is backed by real physical gold. You then go around trading your e-gold for products and services that you want.
THE SERVICE: Users can signup for an e-gold account free. After you have funded your account, your balance is displayed in increments of gold -- you could have one ounce of gold in your account for example (worth whatever the market value is at the moment). Then buyers and sellers online can make and receive payments of e-gold. Later, if you want to cash out, you can get your money back in the gold equavilent.
PROS: It takes you back when the United States used to back up all of its currency with real gold (the Gold Standard). Great fun for those interested in gold and bullion in general. Ideal for secret and off the book transactions.
CONS: Funding your account can be a hassle. You canot fund your acount directly at the e-gold site. You must pick from a long list of unknown companies from around the world that you send your real money to. They, in turn, fund your account (minus a fee). Fees at every point are high. Your nice bar of gold quickly turns to gold dust -- because that is all you have left after all the fees you have to pay here and there. Getting your money out can be a hassle. If the rent is due, and you have money in your e-gold account, you are going to have to wait a while to get the gold in your account and then turn the gold into cash somewhere (local coin store or pawn shop maybe -- yet more fees to pay). The service has been around since 1996 -- it should have caught on by now if it were really a great idea.
OVERALL: This service does serve a portion of the general public that wants a service like this. e-gold has its uses -- however, as is, the service is not a viable PayPal alternative. It is not something the majority of the online public can understand nor use with ease. For those reasons, we cannot recommend this service to anybody.
GreenZap -- Not Recommended for Anybody
GreenZap started operations in early 2005 marketing itself as a viable PayPal alternative. The service allows its users to send money online person-to-person through an email address. Regardless of what service this company offers, the company itself appears to be an unstable, secret company. It turns out that Daniel Westmoreland is a principle partner in Greenzap - and his record online is less than glowing, with his being responsible for previous pyramid schemes, such as Payline.com, which were eventually closed down. Also, the company is not registered to even conduct business in the state of California where it claims to be based. The mailing address for this company is a postal box located within a grocery store -- and the company's phone number is a mobile phone number. The Better Business Bureau has given this company an "unsatisfactory rating" because of numerous customer complaints claiming false advertising and unauthorized withdrawals from their accounts. Because of this information, Screw-PayPal.com did not sign up with this company to test their services. We felt the risk of revealing private financial information to them was too great. We tried to phone GreenZap with no success. We contacted GreenZap through the mail declaring our intent to reveiw the site and requesting comment on the company's background and business operations. GreenZap did not reply.
THE SERVICE: GreenZap allows its users to signup for a free account. With this account users can send and receive money via their email address. GreenZap also offers a merchant account with low fees attached to its use. For a fee, funds can be deposited from your GreenZap account into your bank account.
PROS: The website is more than decent in terms of design. You can send money person-to-person through an email address. Sellers can use this service to recieve online payments through GreenZap's merchant account.
CONS: GreenZap charges a $100 US to get the merchant account. GreenZap charges fees for just about anything you want to do with the service. The company has only been around since 2005. In that short time, GreenZap has developed a very bad reputation. The company from start to now takes great pains to hide ownership of the company and has been involved in some very shady activites. This is not a company you can trust with your money.
OVERALL: With so many other services offering a better service than what GreenZap can offer, and with so many other companies out there having a better reputation than GreenZap, Screw-PayPal.com cannot recommend this site to anybody. The company just cannot be trusted with your private information -- nor your money. With ownership of the company so well hidden, your money and your private information would be in great danger should the company decide to defraud its members and close shop.
MoneyGram -- Recommended for SOME
MoneyGram International, Inc. (MoneyGram) is a global payment services company. Its business is conducted through its wholly owned subsidiary, Travelers Express Company, Inc. (Travelers). MoneyGram operates its business in two segments: Global Funds Transfer and Payment Systems. Global Funds Transfer segment provides money transfer services, money orders and bill payment services to consumers. The Company's Payment Systems segment provides financial institutions with payment processing services, primarily official check outsourcing services and money orders for sale to their customers. In May 2006, MoneyGram acquired Money Express S.r.l., a former super agent of the Company in Italy. During the year ended December 31, 2006, the Company's international operations generated 21% the Company's total revenue and 29% of the Global Funds Transfer segment revenue. The Company provides Global Funds Transfer products and services utilizing a range of point-of-sale platforms.
THE SERVICE: MoneyGram International provides money transfer services, money orders, and bill payment services to consumers. Another segment of MoneyGram International provides financial institutions with payment processing services, primarily of official check outsourcing services and money orders for sale to their customers. The company is more along the lines with Western Union than with PayPal. Users and non-account holders can log on and send money to any person anywhere in the world. Payment can be picked up or can be sent in the mail as a money order that can be cashed later.
PROS: A safe way to send money to somebody. The service provides senders and recipients a world wide method of sending and receiving money. Multiple ways to fund your transaction. The website is simple and easy to use. Sending money takes no time at all.
CONS: The fees are high -- as is the case with most of these services. It is easy to use this service to commit acts of fraud -- once the money is sent, the money is gone. There is no way to get it back if you sent money and did not get what you wanted in return. The service is useless for online businesses and auction sites. Sellers will have to go elsewhere to be able to accept online payments.
OVERALL: This service is not a viable PayPal alternative -- and it does not market itself as such. This service is around to compete with the likes of Western Union and other traditional online money transfer business. Because we understand there is a need for this service, and because this service is backed by a rock solid company, we can recommend this service to SOME -- but not all persons.
PayKo has been a around as a company since mid 2001. PayKo is also a company that is in bed with PayPal -- and remains so inspite of running into big problems with PayPal in 2005 (PayPal froze their account and forced them to comply with policies that were favorable towards PayPal). If a person wants to use this service to its fullest, one must have a working PayPal account. However, the crux of their service is the ability to send money orders to anybody "with a mailing address."
THE SERVICE: You can get a Payko account for free. First, with the account sellers can accept payments for their online goods when buyers send them a money order through the service. There is no fee for the seller to receive money. Payko also offers money order service that allows you to pay with your PayPal account. Payko give the sender the ability to send payments to people who don't normally accept credit cards, to people who don't have access to a computer, and to people who don't accept PayPal.
PROS: Fees to use the service are reasonable. If you have a working PayPal account, and want to buy something from a seller that doesn't accept PayPal, this service allows you to use your PayPal account to send a money order to your seller (you pay PayKo for the service by giveing them money from your PayPal account). This can work with online sellers who don't or can't accept PayPal payments from customers with PayPal accounts. Sellers get their money without a fee.
CONS: The company is basically allowed to operate at the whim of PayPal -- there is nothing stopping PayPal from freezing PayKo's accounts again or causing other unforseen problems. That means you have to cross your fingers with every transaction your make. That is a little too much risk when there are other services out there without this kind of baggage. We did not make use of the PayPal options, however we did find it easy to send a money order from Point A to Point B. It was fast, hassle free and cheap. Sellers could use this service on their website to accept online payments (even though it would be a lot more work to run to the mail box everyday and keep track of all the payments on a paper basis).
OVERALL: This service has its uses. However, it is so specialized with the niche it has carved out for itself, it cannot truly be considered a PayPal alternative -- in fact PayKo NEEDS PayPal in order to operate the majority of their business. While the dependence on PayPal makes us nervous, we have to be fair and say that SOME persons might like this service. Second, the service does allow sellers a great way to get more payments from their online business. It would not hurt to put a PayKo button on your website -- therefore we can recommend this service for SOME, but NOT all persons.
CCAvenue -- Recommended for India and SOME OTHERS
CCAvenue is a company that was started in 2001. Interestingly, this company has its headquarters in India. The company is large and stable enough to have satalite offices in both the United States and China. The company's services are divided into two major programs: merchant accounts for Indians and merchant accounts for the rest of the world. The service allows sellers from around the world to be able to accept online payments -- in any currency -- for their online business or auction listing (not eBay). Buyers, of course, just have to pick out what they want to buy and process their payment through the CCAvenue system. I was however worried by the fact that they were telling me how high-tech and innovative they were -- while I was being stared back point-blank-in-the-face by a huge broken link. The system does allow you to accept online transactions WITHOUT having a merchant account -- however those fees might irk some people.
THE SERVICE: CCAVenue offers a very good merchant program for residents of India -- with the lack of a unified financial infrastructure hindering the country's ability to allow its citizens to sell items internationally, CCAvenue offers a specialzied program that fits the needs of most Indian business persons. For the rest of us, CCAvenue also offers an international merchant account that allows us to place payment buttons on our websites or auction listings and accept payments. You can do this with or without a merchant program from them. You have to pick the service -- and the prices -- that most fit what you are looking for.
PROS: Solid company around since 2001. Perfect for Indian merchants who want to have a global payment solution customized for their specific needs. The service is available to an international audience. Most major currencies are supported by the service with the ability to convert foreign payments into your local currency. Sellers would find this service okay for expanding their business base. Customer support can be reached easily by email or telephone (India, America). Emails were answered in under 48 hours.
CONS: The website could use some work -- the user interface for account holders was complicated and written in British English (this could confuse some American and Canadian customers). It takes about two day of complete attention to the service to get a total grasp on how to use it. There are easier payment solutions out there that are faster and easier to learn and yield the same results. It's hard to keep track of all the fees. Calculating your business expenses using CCAvenue could be difficult.
OVERALL: CCAvenue is something that residents of India should consider using. For the rest of us, I think there are far more easier services out there to use than this one. With all the choices we have, there is no reason to pick this service. However, the service works and does everything as advertised. Aside from some minor issues, a seller could make a living using this payment processor -- although by trial and error. Therefore, we can recommend this service to residents of India and SOME others who might interested in what this service has to offer.
MORE PayPal Alternatives HERE!
