Monday, August 3, 2009

Payment Processor

I have not introduce to you all of what is a payment processor (payment type), as I believe you all know some of the payment processor. But just in case, i will briefly explain about it (the common usage only).

As you all know there are many types of payment processor out there, which is paypal, alertpay, liberty reserve, perfect money, strictpay, webmoney, c-gold, solidtrustpay, ecumoney, moneybookers and many more. You have to use either one of these if you want to received money from the sites you earn, as different company/ sites used different types of payment processor.


All these payment processor can be used to send and received money from the same payment processor, but not on different payment processor. If you want to received money from your one particular payment processor to another different payment processor, you have to find someone who is willing to exchange with you or any other exchanger sites. Beware, as it is dangerous to exchange in this way. The reason is simple, "scam by people". Other than this reason, it may also violate some of the payment processor's terms. So make sure you choose the right person to exchange with you.

Some payment processor, such as paypal or alertpay, allows you to withdraw and deposit your money through and from your bank or credit/debit card. But of course, the money you received will be lower. It is because of the fees and the exchange rate of different currency. As for other payment processors, if you would want to deposit and withdraw your money, you will need to find someone from your area to sell payment processor money to them and they will pay you for that. As usual, if is unknown person you sell to, you have to be cautious and avoid from being scammed.

There's one payment processor called Perfectmoney (well there may be more) that will pay you interest rate if you leave your money in your payment processor, which is similar with your local bank's fixed deposit. Compare with my country, Their p.a.(annually) interest rate is more than 2 times higher than my country's local bank, which is 7%. They credit 0.58% per month if you did not touch your money for the whole month.

Well, the rest you may need to find out on your own by refering to their site's content or contacting them.