No long ago I tried to buy something online, the seller actually used clickbank (“CB”) and for most of us in Malaysia, that would be a problem. CB don’t like certain countries including them is Malaysia. While CB gave option and link to you Paypal account, in certain condition (may be I am not so lucky), they also rejected.
Now this is a dilemma, I found that the product that I want to buy is very interesting and is presented by one of my favorite author. Since this favorite author used CB, thus I can’t buy it. At the same time, it’s also teach me on the important of selection of payment provider if I want to start my online business.
Why this is important? Most people still have a phobia on using credit card online. While the majority already used or know paypal (well, I may be making overstatement here) or some form of digital currency like ClickBank, E-gold, MoneyBooker, E-bullion, Intgold, Pecunix, GreenZap, AlertPay, Google Checkout and many more. It’s important to choose what your platform of payment since failure to do so will limit the potential of revenue. I had prepare a table of comparison between major payment processor, it’s not exclusive some might not be listed. But this is not include the normal credit card or debit card processor. I’ll touch that on next posting. So please, added it under your comment.
Payment Processor | Currency Dominator | Value Per Unit | Cost Of Transaction |
| Paypal | Paper Money | USD1.00 | Click here |
| ClickBank | Paper Money | USD1.00 | Click here |
| GreenZap | Paper Money | USD1.00 | Click here |
| AlertPay | Paper Money | USD1.00 | Click here |
| StormPay | Paper Money | USD1.00 | Click here |
| Money Booker | Paper Money | USD1.00 | Click here |
| WireCard | Paper Money | USD1.00 | Click here |
| E-Gold | Gold and paladium | Based on gold prices | 1 – 5% (with min. 5% plus 0.0002 grams – max. 0.05 grams) |
| E-Bullion | Gold, silver and paladium | Based on gold prices | Click here |
| C-Gold | Gold | Based on gold prices | Click here |
| Crown Gold | Gold | Based on gold prices | Click here |
| e-Dinar | Gold | Based on gold prices | Click here |
| GoldExchange | Gold | Based on gold prices | Click here |
| Gold Money | Gold | Based on gold prices | Click here |
| Liberty Reserve | Gold | Based on gold prices | Click here |
| Virtual Gold | Gold | Based on gold prices | Click here |
Again by all mean the list is not comprehensive. Based on research, some country do prefer gold based payment as compared to digital paper money. It is known that, these country were the country that were blacklisted by these payment processor (some for not known reason).
The main question still remain, you need to choose your payment processor properly.
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Point to note, Paypal for Asian country, or East Asia seem to be govern by Singapore. Try open-up a new account you would found that the agreement stipulated that, we have to abide by Singapore Law and International Law.