Online sellers will be pleased to know that a new online payment service has launched operations and this new Canadian corporation is targetting the micro payment niche, with lower fees and better online security than PayPal. Here are the details:
The Vancouver-based company is called
www.CashSender.com-CashSender splits the fees equally between payment sender and payment receiver.
- CashSender charges a 2.5% fee to send and receive payments (with .05 minimum). If you are an online seller, this will save you a fortune in fees, specially when receiving lesser value payments. With PayPal, if someone sends you a 6 EUR payment, the fee to receive this payment will be .60 EUR which is 10%. With CashSender, the fee to receive this payment is only .15 EUR. The payment sender also pays a .15 EUR fee but this is a lot cheaper (and faster) then sending payment through the mail.
- CashSender charges the same fees for all site members resident of all countries:
https://www.cashsender.com/?cmd=feesWhereas PayPal charges different fees to citizens of different countries. With PayPal, US residents have the lowest fees, while Canadians and Europeans pay much higher PayPal fees.
- PayPal's fee structure is not entirely transparent. There is not a webpage on the PayPal site that presents a complete overview of all their fees for all residents in all countires.
- CashSender's fee structure is completely transparent as all their fees for all residents of all countris are presented on one single page:
https://www.cashsender.com/?cmd=fees- CashSender does not have a different fee structure for business accounts versus personal accounts. Whereas PayPal has higher fees if you are using a business account with them.
- At this time, CashSender only operates in USD, EUR and CAD (whereas PayPal offers a whole host of international currencies).
- CashSender does not accept credit cards, and the high costs of credit card related fraud are not passed down to the site members with high fees.
- CashSender account can be funded by check, money order, or direct from Euro Zone bank accounts and Canadian bank accounts (USA bank accounts in 2010).
- CashSender offers a much higher online security features to protect your account than PayPal
https://www.cashsender.com/?cmd=security
