Something About Payment Processors

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Sorry that I didn’t make a post for a couple of days. As you could read in my last post, we had a very sad weekend because of a family member who passed away. I hope you understand. But I’m now back again, and today I will give you some meat regarding online payment processors.

Most online business programs make use of the so called “Payment Processors” to either receive payments or pay out money to their members. Among the most common are Paypal, Payza and SolidTrustPay. From these you’ll then be able to request your money “for real” in the shape of a bank deposit, a mailed check or in some cases directly to your credit card.

They are all independent businesses that generate their profits from the fees they add to the transactions made. Smart concept… because the amount of transactions made on the Internet every day is huge.

Some business programs offer services like prepaid debitcard or direct deposit to your bank account. Personally I favor the last option (debit card and/or bank deposit) and here’s why.

Be Sure To Receive Your Money

What? Can’t I be sure to receive my cash?
Of course you can, I don’t mean to scare you here. But the thing is that the payment processors online tend to freeze people’s funds or put your account on temporary hold if they feel that your account is at risk. Now, THAT is a very good thing! Of course they should freeze your account if there’s a risk of fraudulent activity or a hacker attack.

But they do these operation far too easy (if you ask me), and the process of “re-open” your account very often takes very long time. Here’s a very recent example…

I work quite a lot in our nearby neighbour country. As some of you might know, I’m a musician and have gigs every now and then. Not that I have to, but I’ve done it for many years and I still love it. So, a lot of the gigs are in Denmark which is our neighbour country.

Since I have been on the move in Denmark regularly and logged in to my Payza account every now and then, those logins have been recorded in Payza’s database with another IP-address than the one I registered my account with. So they put my account on Temporary Hold. I couldn’t access the profile page, send or withdraw any money. I wasn’t able to make any purchases with the funds in my Payza account and more. I sent a support request asking why my account was on hlod, and they replied with some questions I had to answer. I replied with the information they asked for, but it wasn’t enough. Now they’re asking me for further information and scanned documents to prove my ID.

The things they’re now asking for have been submitted to them earlier so there’s no need to do it again. This is only one of many examples in the world of Internet and payment processors. Fortunately the funds in my Payza isn’t a big deal, since it’s just around $100 USD.
But it’s still really annoying.

So what’s the solution?

Well, there’s no easy solution if the program(s) you’re involved with only offer these payment processors as payout options. But if your business program(s) offers other ways for you to receive your money, i.e. prepaid debit card or bank deposit, then I strongly recommend you to use those options. They’re much more reliable and convenient, and you’ll many times also be better off since the fees are usually lower.

It’s therefore with great pride I can inform you that my primary business online offers you a FREE Master Card Debit which you can use to receive your commissions to. It works like a charm, both for purchases online and offline, and also for cash withdrawal at any ATM in the world. And Hey, By the way…

I just got an e-mail with new funds loaded. Payday in my primary business online. YEAH!

Another great business that I’m a part of offers both direct deposits to your bank account anywhere in the world and a prepaid debit card. Very convenient and without any hassles.
Both these business programs are highly successful and they do JUST FINE without any payment processors.

Now look… I’m not judging the payment processors, they’re good in most cases.

But you will never be sure of your money.

They have every final decision if they’re
going to put your account on hold or
freeze your funds. Simple as that!

Most people who have been around in the MLM Network Marketing Industry for a while know that Paypal doesn’t allow MLM programs. So if you’re heading for an MLM program out there that’s offering Paypal as a payout option – Beware! They have most certainly not done their research properly, or they’re simply nothing more than a scam. Paypal is a good payment processor, but mainly for direct purchases from different online/offline stores including eBay.

So I guess that’s what I have to say today… hope you enjoyed it.

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Have a wonderful day!
Ulf

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Ulf

Ulf Astrom from Sweden. I'm a fulltime Internet Marketer who has been around in this industry for several years, although fulltime since 2011. The Internet is a wonderful thing and the option of working online (which means from anywhere in the world) appeals a lot to me. I write "option" because I truly believe it's a choice you make. There's so much guidance out there about how you can create your living online. I have taken part of lots of that information during the years and I now feel confident in bringing this on to other people. Follow my blog, join my Team in one or more of the business opportunities I recommend, and I'd be happy to take you by the hand and help you make money online. In my freetime I enjoy playing music. I've been a musician for many years and I still do some gigs every now and then. Family, friends, outdoor activities also fills my life with much joy. I like to meet people who see opportunities instead of limitations. People who don't whine and complain about everything. In short, positive minded people who wants to make the most out of life. Hope to hear more from you. Best Regards Ulf

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