Why paypal or moneybookers?

Discussion in 'PayPal' started by Cipixxx, Mar 24, 2007.

  1. #1
    I can't see why people aren't transferin money to eachother dirctly through credit card
     
    Cipixxx, Mar 24, 2007 IP
  2. the_gallery

    the_gallery Peon

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    #2
    i can think of 1,000,000 reasons
     
    the_gallery, Mar 24, 2007 IP
  3. eddy2099

    eddy2099 Peon

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    #3
    You cannot transfer funds between credit cards. It just does not work that way. A Credit card is just a piece of plastic with a magnetic strip, it does not work like cash. You basically need to have a merchant account or at least a 3rd party card processor in order to receive funds.
     
    eddy2099, Mar 24, 2007 IP
  4. Cipixxx

    Cipixxx Well-Known Member

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    #4
    name one (the most important)

    aha,..i see...
     
    Cipixxx, Mar 24, 2007 IP
  5. eddy2099

    eddy2099 Peon

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    #5
    The banks are the one who issue the credit card to you and most importantly, the reason why it is called a 'credit card' is because you buy everything on it on credit, the bank basically 'loan' you the money and you pay the bank when you receive your credit card statement which states how much you owe the bank and when you must pay. It is an unsecured loan. Credit card allows people to spend more than they have :)

    Of course, if you have a bank account, depending on the country you are in, you could do a bank to bank transfer.

    Read this http://en.wikipedia.org/wiki/Credit_card , it should clear up doubts on how credit card works.
     
    eddy2099, Mar 24, 2007 IP
  6. the_gallery

    the_gallery Peon

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    #6
    First of all you need to be able to process a credit card to make the transaction work, also using a 3rd party cc processor decreases fraud, monetary theft, identity theft, chargebacks, buyer fraud etc...
     
    the_gallery, Mar 24, 2007 IP
  7. Cipixxx

    Cipixxx Well-Known Member

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    #7
    can you tell me pls what a 3rd party is? :d
    btw: 10x for the answers
     
    Cipixxx, Mar 24, 2007 IP
  8. eddy2099

    eddy2099 Peon

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    #8
    A 3rd Party Credit Card Processor is basically a company which specializes in processing credit card transactions like Paypal (does that), 2Checkout.com , ccbill.com , ccnow.com, plimus.com and so on.

    They basically have a merchant account with the bank and has the facilities to accept credit card transactions. They will collect credit card orders on your behalf, use their bank to process the order (ie to determine if the card is stolen or not and if the payer has sufficient credits) then they will approved it and send you the money to either your bank account or as a check.
     
    eddy2099, Mar 24, 2007 IP
  9. Cipixxx

    Cipixxx Well-Known Member

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    #9
    well this service should be granted for all the users(premier or personal account) for an amount of extra fee.It's resonable
     
    Cipixxx, Mar 24, 2007 IP
  10. eddy2099

    eddy2099 Peon

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    #10
    Well, like they said on the Paypal website, the personal paypal account is not made for business and that is why it is called a 'personal' account. Basically, it is one which is use to make payment rather than to receive it. Thus you are restricted to receiving up to 5 credit card transactions at a time.

    The Premier account can receive credit card transactions where Paypal acts as their 3rd party credit card processors. This goes the same with the Business account.
     
    eddy2099, Mar 24, 2007 IP
  11. Cipixxx

    Cipixxx Well-Known Member

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    #11
    yep...I see now...Thank you very much for taking time to answer my question.I apreciate it
     
    Cipixxx, Mar 25, 2007 IP
  12. Clive

    Clive Web Developer

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    #12
    It's faster, cheaper, more convenient than other traditional money transferring methods.
     
    Clive, Mar 25, 2007 IP
  13. geegel

    geegel Well-Known Member

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    #13
    Transferring funds internationally between two accounts has very high fees compared to either of the two services you mentioned. Also when sending money this way, a great deal of information is also sent, which might not be very attractive if you want to protect your privacy.

    Best regards, George
     
    geegel, Mar 25, 2007 IP
  14. smallbizstartupkit

    smallbizstartupkit Well-Known Member

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    #14
    Using paypal is much more secure in my opinion. Plus there are many times when I prefer paypal over using a credit card.
     
    smallbizstartupkit, Mar 26, 2007 IP