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Decision Time – Must You Ditch PayPal For Alert Pay?

The struggle for supremacy between PayPal and Alert pay has been a subject of controversy on the internet recently. There is no doubt that the former has been dominating the internet payment processing service industry for a considerably long time. Until recently, the possibility of any competitive organization emerging to threaten its supremacy was hardly contemplated. Now the jinx has been broken. We can now see new online payment processors springing up and many online merchants and individuals already using their services. Some of the popular ones are, Money Bookers, E-Pay, Bid Pay, Pro Pay etc. Of all these newly emerging online payment processors, Alert Pay is the strongest, fastest growing and most famous. Its gaining so much acceptability that people have started comparing it with PayPal. Some even predict that it is going to overtake the latter very soon in terms of acceptance and popularity. Is that really going to happen at all? A growing number of people are even considering shifting their payment services to it. Is that a wise step to take? I want us to consider certain facts that will shed further light on this debate. I agree that the appearance of new online payment processors is a good development as it will bring the long awaited competition in this line of business. But it is too early to consider Alert Pay as a strong competitor or a credible alternative to PayPal. One must appreciate the success it has achieved in a very short time. The fact that it gains acceptance among many online merchants is quite commendable. I think three factors are responsible for its success. These are its simplicity, adaptability and freedom. It is easier and quicker to set up. That is what we mean by simplicity. Its accounts are also adaptable. Multiple currencies are allowed on Alert Pay. That is you can operate an account with pounds and dollars at the same time unlike PayPal which restricts you to your local currency. Not only that, an individual is allowed to open more than one account at the same time. Even, businesses with multi-level marketing and adult contents are allowed. Many traders who have been rejected by PayPal on the basis of the above reasons now turn to Alert Pay as a save haven. Also adding to the popularity of its are the outbursts of some PayPal users who think they have been unjustly treated at one time or the other. Such people campaign vehemently against the giant processor and they try to promote its rival as a punitive measure. Some of the things that people complain about in this regard include abrupt freezing of accounts without notice, difficulty withdrawing large amounts on time, restriction to single currency, banning of obscene materials such as adult contents and banning of pay to click (PTC) sites. If Alert Pay plays its card very well, it can use the opportunities mentioned above to its own advantage as a perfect means of attracting more customers to its services. Despite all the benefits enjoyed by Alert Pay, it is still far behind PayPal in terms of acceptability and versatility. PayPal has been able to establish itself as ultimate leader in online payment services. It is accepted worldwide and its charges are cheaper when compared with that of the new processor. For instance, it charges 4.9%+30 cents or credit cards while Alert Pay charges 5%. PayPal’s internal transfer of funds is free while Alert Pay charges $1 for a similar service. As of now, PayPal has 153 accounts in 190 markets, in 17 currencies and 42000 shops. Alert Pay has not published any data regarding its membership yet. In addition to that, the strong link between PayPal and eBay cannot also be overlooked. It is more or less the official payment processor for eBay. Imagine the number of people buying or selling on the eBay on a daily basis. Let me conclude this article by advising anybody considering leaving PayPal to be very careful. You can open an account with the new processor as a means of support for the new company to grow but do not close your account with PayPal. You may need it again some day.

May 18th, 2012 | Category: General, Online Business

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