Online payment platform PayPal has recently announced its partnership with 15 important retailers like Abercrombie & Finch, Aéropostale and Barnes & Noble Inc for example. This partnership concerns “in store” payments and follows a move by the payment platform to provide its own cards or a combination of mobile phone number and PIN for transactions.
Virgopass supports four main types of payment methods. They are namely based on customer’s SMS, Internet, Call or mobile bills. Indeed, these solutions remove the need of a credit card or complex manipulations before confirming the payment. It is a good method to increase the conversion rate when it comes to micropayment transactions. To confirm the purchase, either a mobile number or an email address is necessary. These methods are rather quick to use and make Virgopass a good alternative to online payment services requiring a credit card.
MH Pillars recently acquired AlertPay and introduced the offspring of this acquisition: Payza. Payza keeps AlertPay’s online payment features while adding some new ones. For example, it seems that Payza is more Smartphone/Mobile phone friendly. The bank wiring option is available for more countries. This seems in line with the aim of MH Pillars: making money transfer more easily available and thus raise the standard of living in developing countries.
The economy has been hit hardly in the recent years. However, it seems that e-commerce has not been affected a lot in Europe. From what Wijnand Jongen says, we see that collaboration between payment as service providers and banks is needed if the e-commerce industry is to maintain its high value. Online payment methods should be able to cross borders, even more for Europe since the European Union is all about unity of the countries. The variety of payment solutions proposed increases the rate of conversion of e-commerce websites and thus is a key value that should not be neglected.
Credit card giant MasterCard has announced the “PayPass Wallet Services”. It is a centralisation of payment methods used by the credit card company’s customers. There are three main components to this service states “Business Week”.
The first part is the PayPass Acceptance Network, which comprises PayPass Online and its contactless payment alternative. The second component is PayPass Wallet and the third is PayPass API (which allows developers to integrate PayPass into their products).
It keeps the payment experience quite uniform for its customers, whether for online payment or at a Point of sale.
Virgopass proposes web and online payment as well as micropayment solutions. Whether for websites or applications, it seems to be really adaptable to the various common situations requiring these payment solutions. Even if it is now present in the US, its target seems to be most of Europe; with countries like UK, France, Germany and more recently Turkey.
It proposes two kinds of services, a “self-service” one (and free for anyone) which only requires a registration to the website and a premium-based service. The latter allows its subscriber to benefit from Virgopass’ expertise and knowledge as well as a multi-channel distribution channel. Different payment offers, like mobile, web, internet or call payment for the subscriber’s clients and DNA products accompany the premium offer.
It seems interesting that anyone can integrate Virgopass’ basic offer to his or her website. It will be a good alternative to other micropayment or online payment offers like PayPal, especially with the mobile payment option.
Virtual currencies are more and more present in the various online communities. Used mostly to generate revenues for websites, applications or virtual communities, it can also prevent direct contact between bank accounts and credit cards, thus increasing some form of security. These currencies have to be bought from a secured website or through software.
There are business and gaming virtual currencies. Among the most known business types, we can name Facebook’s credits or Hub Culture’s “Ven”. Gaming virtual currencies are the most common types and can be found across the web. Notable examples would be Nexon’s Karma koins or NX Cash. There are also “virtual world” communities that use virtual currencies: Second life and IMVU for example.
Virtual Currencies are used to acquire digital goods that have an importance only in a set and definite virtual environment: A piece of armor or a power up, information that needs to be bought etc for example. This method of online payment is the main source of revenue of most principal actors of virtual communities.