Monday, October 23, 2006

Dealing With Money

How do people trade money online today? PayPal seems to be the way things are done for most people. My first thoughts where that PayPal would be *the* way money is handled for I am starting to have second thoughts. Why get tied down to one. I was recently told about by a friend of mine. Looks like they are pretty similar to PayPal, but there are some important differences Transaction Fees
  • paypal - personal accounts free, premier 3% + 30 cents per txn
  • neteller - 1.9% p2p payment
User Agreement
  • PayPal - pretty restrictive - no p0rn, no gambling - why take the fun out of it.
  • neteller - wow - as long as your not a terrorist, its all good baby.
  • PayPal - whatever...i am used to is everyone else
  • Neteller - never used it. But online gambling addicted friend told me about it - how hard could it be.
  • Both support accepting payments, and a MassPay for affiliate payments.
How it all works in It would be nice to leave the option open to the seller. How do they want to receive money. How do they want to pay their affiliates. would need to link the PayPal/Neteller account to their user. First rollout may just have PayPal support, but architecture should be open to support more. All money stuff will be abstracted out in the code. We should be able to plug into whatever payment system we like.

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