While PayPal continues to have a very good name in the world of third-party payments systems, we are seeing more vendors moving away from the payment system. iTunes, the world’s largest online music store has dropped PayPal in Australia, for example. The reasons for why this is the case, are not very clear. Rumours have been circulating on the internet for some time. The biggest rumour is that iTunes has been subject to fraudulent activities, although iTunes is not admitting this directly.
One thing is for sure, when there have been fraudulent activities on PayPal, the users have been reimbursed. If you are in the business of e-commerce, and you are preparing your web design, the choice of your payment system will be very important. PayClick, a new payment method is gathering traction fast. Here is a look at PayClick, how it works, and how it is providing more secure payment methods for both sellers and consumers.
Setting Up PayClick
Setting up a PayClick account is much like setting up any other third-party payment system. You set up your account, and you verify it through your email. The interesting part of the process is when you have to set your password. PayClick will force you to use a number of symbols and letters. This makes it harder for people to have a simple password and automatically creates increased security.
Where PayClick Really Differs
Unlike PayPal which has access to your bank account and your debit or credit card, PayClick uses a system which is more like one-off purchasing. You load up your PayClick account with your source of choice. You do not have to store your credit or debit card details on your account, for example. Even if you do use your Visa card to load up credit on PayClick, you will still need to use your VerifiedByVisa password.
This is another level of security for your Visa credit or debit card, and needs to be set up by you, through your personal online banking services. If you do not know how to set your VerifiedByVisa password, you need to speak to your card provider or your bank in most cases. Payclick also uses verification icons, above and beyond the normal use of passwords
PayClick is designed for smaller purchases on the internet, such as buying music from iTunes, or loading credit onto your mobile phone. There is no direct connection between your bank and/or your credit or debit card. For example, you put 50 dollars into your PayClick account, and use it to buy products or services like you would do with any other third-party payment system, and the balance of your PayClick account is reduced. Once it reaches zero, you need to manually reload the credit in your PayClick account.
The Big Advantage
The real idea behind PayClick is that you limit the amount of money in your PayClick account. Even if your account is hacked, then there is only a limited amount of money that can be abused and misused. PayClick by Visa is fast turning into the popular choice for many big-name companies, and becoming a part of this system will only help your online sales and online marketing strategy.
It should be noted that PayClick (by Visa) is not limited only to Visa, and Mastercards can also be used to fund your account. PayClick is a little guarded with their fees, although they do claim to be very competitive. With so many big-names already using PayClick, we know they have to be a threat to the costly fees of PayPal.