Could your web business which currently accepts PayPal benefit from the addition of a digital gold currency? Would your online sales expand if you accepted a digital gold currency like e-gold?
In this brief article we are making a quick comparison of PayPal vs. Digital Gold Currency (DGC).
The focus is on e-gold and drawing some comparisons between the sale of products using PayPal and DGC.
Internet shoppers use PayPal because it is convenient and generally the places they shop online will accept PayPal. This is just stating the obvious. So why does PayPal have 115 million client accounts and e-gold Ltd. just over 3 million? This is harder to explain, but the difference in sales may be explained by the 'convenience factor'.
Most people, especially Americans, are comfortable whipping out their plastic and instantly buying goods. Consequently, it is no hardship to further press that plastic online and use your PayPal account. The familiar credit card to PayPal set up is accepted and comfortable for a majority of shoppers. It is also fast, safe and most would consider it very convenient. Credit card transactions, especially for Americans, are like the old comfortable blanket you have on your couch. It is so familiar and second nature it just feels right to use it. There is nothing strange or unknown about credit cards, you can see their ads on the TV every 15 minutes. American love them and even put their pictures on them.
If fact, from the PayPal web, we can read their Q&A section.
Q. Why should I use PayPal?
A. PayPal is far less time-consuming than making a trip to the bank or writing and mailing paper checks. And unlike checks, which can take days to clear, PayPal transactions clear instantly.
Today, convenience drives online consumers. The convenience of using your credit card with PayPal goes even further, because when you add a card for PayPal purchases, you are also interacting directly with the PayPal web. There is no real mystery to visiting this web and giving them your personal information. One can conclude that shopping with PayPal may be a lot like the exciting casino slot machine. An instant online PayPal purchase provides some measure of instant gratification to shoppers. The ease of use may even have created a kind of 'impulse' online PayPal buyer.
Much different from using PayPal, e-gold accounts cannot be funded directly through the e-gold Ltd. web. E-gold users do not send money and do not interact directly with the e-gold domain on the transfer of account funds.
To purchase e-gold you have to fund your account using a third party agent such as OmniPay or Instant Gold Exchange. To add more confusion to the equation, with credit card fraud so widespread online, most third party e-gold exchange agents do not accept plastic. Right there, you have ostracized most American online shoppers. In fact, complicated wire transfers are one of the most popular methods to fund a digital gold currency account. That type of transaction takes time. E-gold account funding is rarely concluded 'instantly' and in fact most funding takes about a day. That impulse sale or instant gratification may be lost on an e-gold retail exchange. Its hard to conclude but already we have a few small reasons why PayPal may be more accepted than a DGC.
However, for millions of online shoppers who don't have a wallet full of plastic or even a bank account, PayPal is simply NOT the online shopping answer. Remember, there are more people in the world today with cell phones then have bank accounts!
These folks also want to shop online, so a digital gold currency account such as e-gold could be the very good solution for them. If you are an online merchant and you only accept payment from PayPal and not DGCs you are missing out on a large segment of Internet spenders. Growth on the Internet of shoppers and users is now creating a mammoth army of shoppers in countries around the globe. Not all of these users can throw down the plastic to shop. If you expand your operation to include these DGC users you are almost certain to expand your sales in the years ahead.
Plus Internet shoppers also often have trouble with cross border transactions using credit cards, so if you are having trouble shopping from your location, you may benefit from a DGC account. Online freedom from credit cards is a very liberating thing. Digital gold transactions can instantly be denominated in any one of 21 different currencies without the loss due to wild credit card currency conversion rates.
Comparing PayPal vs. DGC, the differences can be large. Especially considering the fact e-gold account funding does not require a bank account or credit card. Users can buy e-gold through an agent using cash, money orders, checks, Western Union, MoneyGram or a host of other options. Throughout all major cities in the US, anyone can walk into a bank branch office or S&L with cash and make a deposit for a fast generally same day DGC purchase. The Gold Pages E-currency Directory (www.gold-pages.net) details more than 20 easy methods of funding for DGC accounts and categorizes the agents by the methods of funding. The bottom line is if you have the money, using a DGC account will allow you to shop online from anywhere in the world. You won't be restricted by borders, currencies or your local banking relationship. Additionally, if you are an online merchant only accepting PayPal or credit cards, you can expand your online sales by becoming a DGC merchant. Gold-Cart.com is a very easy, free way to instantly accept 4 digital gold currency by using one easy application. This set up works as a stand alone DGC shopping cart or will integrate into an existing cart. It is free to set up, simple to use with no credit requirements, reserve account or hidden fees.
PayPal
The PayPal web states, "PayPal enables any business or consumer with an email address to securely, conveniently, and cost-effectively send and receive payments online." However, for e-commerce and retail sales, PayPal has a number of restrictions on who can use their accounts and what they can sell. A visitor to the PayPal web could literally spend one entire day reading and understanding the Acceptable Use Policy. PayPal imposes some restrictions which your business may need to operate online. In addition to these limitations the country in which you live could also exclude you from using PayPal or restrict your account to only certain transactions. If you give their Policy a quick glance you will notice some far reaching items such as these:
You may not use PayPal to send or receive payments for any form of gambling activities which includes: Online Casino Games and Sports Books or Sports Betting.
You may not use PayPal in the purchase or sale of, or receipt of donations for, any obscene or sexually oriented goods or services.
South African residents may not use PayPal to receive payments.
You may not use PayPal to sell humans, the human body, or any human body parts. (Well, OK, on this I think we all agree.)
In addition, as no one under the age of 18 is permitted to use the PayPal service. Regardless of the jurisdiction, under no circumstances shall the use of PayPal be permitted by persons under the age of 18.
e-gold
e-gold account holders are bound by the e-gold Account User Agreement. However, there are no restrictions such as PayPal. In a nutshell, e-gold says if the transaction is legal you can use e-gold. Any user and any age. This is a large contrast to a PayPal account.
PayPal vs. e-gold Worldwide Users
PayPal offers service to users in 55 countries and regions. E-gold can be used ANYWHERE in the world without restriction. E-gold and DGC accounts are available to anyone wanting to begin accepting Digital Gold Currency in any country around the globe. e-gold is also one of the 4 digital gold currencies accepted by Gold-Cart.com
There are a host of reasons why some Internet users find a large advantage using a DGC over PayPal. One reason, as stated above, may just be the country where you reside or the reason may be defined by your access to local banking faculties. With almost 2 dozen methods to fund your DGC account, exchange agents make it easy for all to use DGC. In the United States today there are an estimated 35 million Americans who do not have a bank account or credit card. Merchants accepting digital gold currency can include this market segment in their sales forcasts. PayPal can not.
Additionally, PayPal merchant fees can be very expensive for the small business person. If you are selling a low priced item of $5 or less, you may want to consider accepting a digital gold currency. The PayPal or credit card fees on small purchases can mount up to a good portion of your net income. However for small sales, transaction fees are much lower using a DGC. Unlike credit cards DGC transaction fees are very low. As an online merchant, if you accepts the sale of a dozen separate one dollar items using PayPal or a credit card, your profit margin will quickly shrink.
Here is a quick comparison:
A PayPal payment coming from a US account to another US user and based on the PayPal Standard Rate (2.9% + $0.30)*
A business receiving a $1.00 sale payment is be charged a PayPal fee of .33$ and the merchant would only receive .67$ net to their account.
An e-gold transaction using the same options (Spend Fees 5% + AUG 0.0002)*
The e-gold merchant receiving this same sales transaction in a $1.00 e-gold payment would only be charged a transaction fee in e-gold .05$ and would net a total of .95$
*http://www.ppcalc.com/
*http://www.e-gold.com/unsecure/fees.htm
Lower transaction fees is another compelling reason to add DGC to your sales web. When using e-gold instead of PayPal, the saving on multiple smaller transactions is astonishing. Additionally, all DGC payments are non reversible. When using e-gold you are guaranteed against any chargeback's, cancelled sales or fraudulent transactions. There is NO fraud or chargeback's with DGCs.
Taking a closer look at our reasoning and examples used comparing 'PayPal vs. DGC' a strong argument can be made for the use of DGC in addition to or in place of PayPal. While PayPal is a fantastic product, there are millions of Internet users and shoppers around the globe who would greatly benefit from the addition of digital gold currency on their retail webs.
Mark Herpel
mgmt@gold-companies.com
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Saturday, 3 March 2007
Review: Which is better Digital Gold Currency or PayPal?
Could your web business which currently accepts PayPal benefit from the addition of a digital gold currency? Would your online sales expand if you accepted a digital gold currency like e-gold?
In this brief article we are making a quick comparison of PayPal vs. Digital Gold Currency (DGC).
The focus is on e-gold and drawing some comparisons between the sale of products using PayPal and DGC.
Internet shoppers use PayPal because it is convenient and generally the places they shop online will accept PayPal. This is just stating the obvious. So why does PayPal have 115 million client accounts and e-gold Ltd. just over 3 million? This is harder to explain, but the difference in sales may be explained by the 'convenience factor'.
Most people, especially Americans, are comfortable whipping out their plastic and instantly buying goods. Consequently, it is no hardship to further press that plastic online and use your PayPal account. The familiar credit card to PayPal set up is accepted and comfortable for a majority of shoppers. It is also fast, safe and most would consider it very convenient. Credit card transactions, especially for Americans, are like the old comfortable blanket you have on your couch. It is so familiar and second nature it just feels right to use it. There is nothing strange or unknown about credit cards, you can see their ads on the TV every 15 minutes. American love them and even put their pictures on them.
If fact, from the PayPal web, we can read their Q&A section.
Q. Why should I use PayPal?
A. PayPal is far less time-consuming than making a trip to the bank or writing and mailing paper checks. And unlike checks, which can take days to clear, PayPal transactions clear instantly.
Today, convenience drives online consumers. The convenience of using your credit card with PayPal goes even further, because when you add a card for PayPal purchases, you are also interacting directly with the PayPal web. There is no real mystery to visiting this web and giving them your personal information. One can conclude that shopping with PayPal may be a lot like the exciting casino slot machine. An instant online PayPal purchase provides some measure of instant gratification to shoppers. The ease of use may even have created a kind of 'impulse' online PayPal buyer.
Much different from using PayPal, e-gold accounts cannot be funded directly through the e-gold Ltd. web. E-gold users do not send money and do not interact directly with the e-gold domain on the transfer of account funds.
To purchase e-gold you have to fund your account using a third party agent such as OmniPay or Instant Gold Exchange. To add more confusion to the equation, with credit card fraud so widespread online, most third party e-gold exchange agents do not accept plastic. Right there, you have ostracized most American online shoppers. In fact, complicated wire transfers are one of the most popular methods to fund a digital gold currency account. That type of transaction takes time. E-gold account funding is rarely concluded 'instantly' and in fact most funding takes about a day. That impulse sale or instant gratification may be lost on an e-gold retail exchange. Its hard to conclude but already we have a few small reasons why PayPal may be more accepted than a DGC.
However, for millions of online shoppers who don't have a wallet full of plastic or even a bank account, PayPal is simply NOT the online shopping answer. Remember, there are more people in the world today with cell phones then have bank accounts!
These folks also want to shop online, so a digital gold currency account such as e-gold could be the very good solution for them. If you are an online merchant and you only accept payment from PayPal and not DGCs you are missing out on a large segment of Internet spenders. Growth on the Internet of shoppers and users is now creating a mammoth army of shoppers in countries around the globe. Not all of these users can throw down the plastic to shop. If you expand your operation to include these DGC users you are almost certain to expand your sales in the years ahead.
Plus Internet shoppers also often have trouble with cross border transactions using credit cards, so if you are having trouble shopping from your location, you may benefit from a DGC account. Online freedom from credit cards is a very liberating thing. Digital gold transactions can instantly be denominated in any one of 21 different currencies without the loss due to wild credit card currency conversion rates.
Comparing PayPal vs. DGC, the differences can be large. Especially considering the fact e-gold account funding does not require a bank account or credit card. Users can buy e-gold through an agent using cash, money orders, checks, Western Union, MoneyGram or a host of other options. Throughout all major cities in the US, anyone can walk into a bank branch office or S&L with cash and make a deposit for a fast generally same day DGC purchase. The Gold Pages E-currency Directory (www.gold-pages.net) details more than 20 easy methods of funding for DGC accounts and categorizes the agents by the methods of funding. The bottom line is if you have the money, using a DGC account will allow you to shop online from anywhere in the world. You won't be restricted by borders, currencies or your local banking relationship. Additionally, if you are an online merchant only accepting PayPal or credit cards, you can expand your online sales by becoming a DGC merchant. Gold-Cart.com is a very easy, free way to instantly accept 4 digital gold currency by using one easy application. This set up works as a stand alone DGC shopping cart or will integrate into an existing cart. It is free to set up, simple to use with no credit requirements, reserve account or hidden fees.
PayPal
The PayPal web states, "PayPal enables any business or consumer with an email address to securely, conveniently, and cost-effectively send and receive payments online." However, for e-commerce and retail sales, PayPal has a number of restrictions on who can use their accounts and what they can sell. A visitor to the PayPal web could literally spend one entire day reading and understanding the Acceptable Use Policy. PayPal imposes some restrictions which your business may need to operate online. In addition to these limitations the country in which you live could also exclude you from using PayPal or restrict your account to only certain transactions. If you give their Policy a quick glance you will notice some far reaching items such as these:
You may not use PayPal to send or receive payments for any form of gambling activities which includes: Online Casino Games and Sports Books or Sports Betting.
You may not use PayPal in the purchase or sale of, or receipt of donations for, any obscene or sexually oriented goods or services.
South African residents may not use PayPal to receive payments.
You may not use PayPal to sell humans, the human body, or any human body parts. (Well, OK, on this I think we all agree.)
In addition, as no one under the age of 18 is permitted to use the PayPal service. Regardless of the jurisdiction, under no circumstances shall the use of PayPal be permitted by persons under the age of 18.
e-gold
e-gold account holders are bound by the e-gold Account User Agreement. However, there are no restrictions such as PayPal. In a nutshell, e-gold says if the transaction is legal you can use e-gold. Any user and any age. This is a large contrast to a PayPal account.
PayPal vs. e-gold Worldwide Users
PayPal offers service to users in 55 countries and regions. E-gold can be used ANYWHERE in the world without restriction. E-gold and DGC accounts are available to anyone wanting to begin accepting Digital Gold Currency in any country around the globe. e-gold is also one of the 4 digital gold currencies accepted by Gold-Cart.com
There are a host of reasons why some Internet users find a large advantage using a DGC over PayPal. One reason, as stated above, may just be the country where you reside or the reason may be defined by your access to local banking faculties. With almost 2 dozen methods to fund your DGC account, exchange agents make it easy for all to use DGC. In the United States today there are an estimated 35 million Americans who do not have a bank account or credit card. Merchants accepting digital gold currency can include this market segment in their sales forcasts. PayPal can not.
Additionally, PayPal merchant fees can be very expensive for the small business person. If you are selling a low priced item of $5 or less, you may want to consider accepting a digital gold currency. The PayPal or credit card fees on small purchases can mount up to a good portion of your net income. However for small sales, transaction fees are much lower using a DGC. Unlike credit cards DGC transaction fees are very low. As an online merchant, if you accepts the sale of a dozen separate one dollar items using PayPal or a credit card, your profit margin will quickly shrink.
Here is a quick comparison:
A PayPal payment coming from a US account to another US user and based on the PayPal Standard Rate (2.9% + $0.30)*
A business receiving a $1.00 sale payment is be charged a PayPal fee of .33$ and the merchant would only receive .67$ net to their account.
An e-gold transaction using the same options (Spend Fees 5% + AUG 0.0002)*
The e-gold merchant receiving this same sales transaction in a $1.00 e-gold payment would only be charged a transaction fee in e-gold .05$ and would net a total of .95$
*http://www.ppcalc.com/
*http://www.e-gold.com/unsecure/fees.htm
Lower transaction fees is another compelling reason to add DGC to your sales web. When using e-gold instead of PayPal, the saving on multiple smaller transactions is astonishing. Additionally, all DGC payments are non reversible. When using e-gold you are guaranteed against any chargeback's, cancelled sales or fraudulent transactions. There is NO fraud or chargeback's with DGCs.
Taking a closer look at our reasoning and examples used comparing 'PayPal vs. DGC' a strong argument can be made for the use of DGC in addition to or in place of PayPal. While PayPal is a fantastic product, there are millions of Internet users and shoppers around the globe who would greatly benefit from the addition of digital gold currency on their retail webs.
Mark Herpel
mgmt@gold-companies.com
In this brief article we are making a quick comparison of PayPal vs. Digital Gold Currency (DGC).
The focus is on e-gold and drawing some comparisons between the sale of products using PayPal and DGC.
Internet shoppers use PayPal because it is convenient and generally the places they shop online will accept PayPal. This is just stating the obvious. So why does PayPal have 115 million client accounts and e-gold Ltd. just over 3 million? This is harder to explain, but the difference in sales may be explained by the 'convenience factor'.
Most people, especially Americans, are comfortable whipping out their plastic and instantly buying goods. Consequently, it is no hardship to further press that plastic online and use your PayPal account. The familiar credit card to PayPal set up is accepted and comfortable for a majority of shoppers. It is also fast, safe and most would consider it very convenient. Credit card transactions, especially for Americans, are like the old comfortable blanket you have on your couch. It is so familiar and second nature it just feels right to use it. There is nothing strange or unknown about credit cards, you can see their ads on the TV every 15 minutes. American love them and even put their pictures on them.
If fact, from the PayPal web, we can read their Q&A section.
Q. Why should I use PayPal?
A. PayPal is far less time-consuming than making a trip to the bank or writing and mailing paper checks. And unlike checks, which can take days to clear, PayPal transactions clear instantly.
Today, convenience drives online consumers. The convenience of using your credit card with PayPal goes even further, because when you add a card for PayPal purchases, you are also interacting directly with the PayPal web. There is no real mystery to visiting this web and giving them your personal information. One can conclude that shopping with PayPal may be a lot like the exciting casino slot machine. An instant online PayPal purchase provides some measure of instant gratification to shoppers. The ease of use may even have created a kind of 'impulse' online PayPal buyer.
Much different from using PayPal, e-gold accounts cannot be funded directly through the e-gold Ltd. web. E-gold users do not send money and do not interact directly with the e-gold domain on the transfer of account funds.
To purchase e-gold you have to fund your account using a third party agent such as OmniPay or Instant Gold Exchange. To add more confusion to the equation, with credit card fraud so widespread online, most third party e-gold exchange agents do not accept plastic. Right there, you have ostracized most American online shoppers. In fact, complicated wire transfers are one of the most popular methods to fund a digital gold currency account. That type of transaction takes time. E-gold account funding is rarely concluded 'instantly' and in fact most funding takes about a day. That impulse sale or instant gratification may be lost on an e-gold retail exchange. Its hard to conclude but already we have a few small reasons why PayPal may be more accepted than a DGC.
However, for millions of online shoppers who don't have a wallet full of plastic or even a bank account, PayPal is simply NOT the online shopping answer. Remember, there are more people in the world today with cell phones then have bank accounts!
These folks also want to shop online, so a digital gold currency account such as e-gold could be the very good solution for them. If you are an online merchant and you only accept payment from PayPal and not DGCs you are missing out on a large segment of Internet spenders. Growth on the Internet of shoppers and users is now creating a mammoth army of shoppers in countries around the globe. Not all of these users can throw down the plastic to shop. If you expand your operation to include these DGC users you are almost certain to expand your sales in the years ahead.
Plus Internet shoppers also often have trouble with cross border transactions using credit cards, so if you are having trouble shopping from your location, you may benefit from a DGC account. Online freedom from credit cards is a very liberating thing. Digital gold transactions can instantly be denominated in any one of 21 different currencies without the loss due to wild credit card currency conversion rates.
Comparing PayPal vs. DGC, the differences can be large. Especially considering the fact e-gold account funding does not require a bank account or credit card. Users can buy e-gold through an agent using cash, money orders, checks, Western Union, MoneyGram or a host of other options. Throughout all major cities in the US, anyone can walk into a bank branch office or S&L with cash and make a deposit for a fast generally same day DGC purchase. The Gold Pages E-currency Directory (www.gold-pages.net) details more than 20 easy methods of funding for DGC accounts and categorizes the agents by the methods of funding. The bottom line is if you have the money, using a DGC account will allow you to shop online from anywhere in the world. You won't be restricted by borders, currencies or your local banking relationship. Additionally, if you are an online merchant only accepting PayPal or credit cards, you can expand your online sales by becoming a DGC merchant. Gold-Cart.com is a very easy, free way to instantly accept 4 digital gold currency by using one easy application. This set up works as a stand alone DGC shopping cart or will integrate into an existing cart. It is free to set up, simple to use with no credit requirements, reserve account or hidden fees.
PayPal
The PayPal web states, "PayPal enables any business or consumer with an email address to securely, conveniently, and cost-effectively send and receive payments online." However, for e-commerce and retail sales, PayPal has a number of restrictions on who can use their accounts and what they can sell. A visitor to the PayPal web could literally spend one entire day reading and understanding the Acceptable Use Policy. PayPal imposes some restrictions which your business may need to operate online. In addition to these limitations the country in which you live could also exclude you from using PayPal or restrict your account to only certain transactions. If you give their Policy a quick glance you will notice some far reaching items such as these:
You may not use PayPal to send or receive payments for any form of gambling activities which includes: Online Casino Games and Sports Books or Sports Betting.
You may not use PayPal in the purchase or sale of, or receipt of donations for, any obscene or sexually oriented goods or services.
South African residents may not use PayPal to receive payments.
You may not use PayPal to sell humans, the human body, or any human body parts. (Well, OK, on this I think we all agree.)
In addition, as no one under the age of 18 is permitted to use the PayPal service. Regardless of the jurisdiction, under no circumstances shall the use of PayPal be permitted by persons under the age of 18.
e-gold
e-gold account holders are bound by the e-gold Account User Agreement. However, there are no restrictions such as PayPal. In a nutshell, e-gold says if the transaction is legal you can use e-gold. Any user and any age. This is a large contrast to a PayPal account.
PayPal vs. e-gold Worldwide Users
PayPal offers service to users in 55 countries and regions. E-gold can be used ANYWHERE in the world without restriction. E-gold and DGC accounts are available to anyone wanting to begin accepting Digital Gold Currency in any country around the globe. e-gold is also one of the 4 digital gold currencies accepted by Gold-Cart.com
There are a host of reasons why some Internet users find a large advantage using a DGC over PayPal. One reason, as stated above, may just be the country where you reside or the reason may be defined by your access to local banking faculties. With almost 2 dozen methods to fund your DGC account, exchange agents make it easy for all to use DGC. In the United States today there are an estimated 35 million Americans who do not have a bank account or credit card. Merchants accepting digital gold currency can include this market segment in their sales forcasts. PayPal can not.
Additionally, PayPal merchant fees can be very expensive for the small business person. If you are selling a low priced item of $5 or less, you may want to consider accepting a digital gold currency. The PayPal or credit card fees on small purchases can mount up to a good portion of your net income. However for small sales, transaction fees are much lower using a DGC. Unlike credit cards DGC transaction fees are very low. As an online merchant, if you accepts the sale of a dozen separate one dollar items using PayPal or a credit card, your profit margin will quickly shrink.
Here is a quick comparison:
A PayPal payment coming from a US account to another US user and based on the PayPal Standard Rate (2.9% + $0.30)*
A business receiving a $1.00 sale payment is be charged a PayPal fee of .33$ and the merchant would only receive .67$ net to their account.
An e-gold transaction using the same options (Spend Fees 5% + AUG 0.0002)*
The e-gold merchant receiving this same sales transaction in a $1.00 e-gold payment would only be charged a transaction fee in e-gold .05$ and would net a total of .95$
*http://www.ppcalc.com/
*http://www.e-gold.com/unsecure/fees.htm
Lower transaction fees is another compelling reason to add DGC to your sales web. When using e-gold instead of PayPal, the saving on multiple smaller transactions is astonishing. Additionally, all DGC payments are non reversible. When using e-gold you are guaranteed against any chargeback's, cancelled sales or fraudulent transactions. There is NO fraud or chargeback's with DGCs.
Taking a closer look at our reasoning and examples used comparing 'PayPal vs. DGC' a strong argument can be made for the use of DGC in addition to or in place of PayPal. While PayPal is a fantastic product, there are millions of Internet users and shoppers around the globe who would greatly benefit from the addition of digital gold currency on their retail webs.
Mark Herpel
mgmt@gold-companies.com
Subscribe to:
Post Comments (Atom)
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