Top Four Payment Processors

What is a payment processor?

If you are wondering what a payment processor is, then here is the answer to you question. A payment processor is basically an online money transfer website. With an online payment processor you can either withdraw the money to your bank account or you might ask them to send you a check.

Paypal

Paypal is the most well known payment processor and is used widely. Paypal belongs to Ebay and is used basically as a medium to purchase goods form the website Ebay.

Features of paypal

• The staff support of paypal is very good and very quick to reply. Usually the staff would give a reply within 24 hours duration.
• The withdrawal system of paypal is very good and after withdrawing the money in the bank account it reaches within 7 days of request.
• The password recovery options are really good and very easy to use.
• Paypal is the most widely used online payment processor.
• Paypal is free to use and has got a very minimal fee for sending and receiving funds.
• Paypal supports over 100 countries.

Image via Wikipedia

Moneybookers

Moneybookers was established in 2001 in UK. It supports many countries and is very famous. It supports bank withdrawal to many countries and is now gaining popularity very fast.

Features of moneybookers

• The website is very old now and has established its roots in these 8 years.
• Moneybookers allows customers to send, receive and hold funds in 30+ currencies worldwide and offers local payments in 40+ countries.
• Moneybookers has a very easy to use interface and everyone can use it without any trouble.
• Moneybookers offer free registration and the money which you get is automatically converted to the home currency.

Alertpay

Alertpay is now well established as an online payment processor. The headquarters is situated in Canada and it is a Canadian enterprise.

Features of Alertpay

• Alertpay supports over 190 countries and a user can send money if he belongs to one of those 190 countries.
• Alertpay has a good bank withdrawal system and a person can easily withdraw his money to his bank account but still many countries are not supported.
• It is a very easy to use website and the account is free.

Liberty reserve

Liberty reserve is a fairly new online payment processor as compared to the other 3 and it has its headquarters in Costa Rica. The only negative point which in liberty reserve is that it does not support bank withdrawal.

Features of liberty reserve

• The website has got better security features as compared to any other online payment processor.
• There are 3 different codes for the user account protection.
• The only negative point is that liberty reserve does not support bank withdrawal facility.
• It has a fee of 1% on receiving any amount of money.  

Image via Wikipedia

The image above shows the location of Costa Rica.