Lower fees and better online security than PayPal

[admin]

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 1.5% 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 .09 EUR. The payment sender also pays a .09 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=fees
Whereas 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

[admin]

Here is their latest Press Release:

CashSender.com Becomes Every Small Merchants Payment Pal Slashing High Industry Fees For Money Transfer Services

Firm Charges a Flat 1.5 Percent Fee Per Payment Sent or Received

VANCOUVER, British Columbia – January 27, 2010 – Small businesses have a new low cost pal to handle the online payments for their products and services. CashSender.com announced today a service designed to slash exorbitant e-commerce money transfer fees for online merchants to as low as pennies per transaction.

“The competition simply charges small online retailers too much in fees to handle low dollar transactions,” said Henry Tenby with CashSender.com. “We are going to cut the fees to spur the growth of online commerce and promote international trade while offering better service and advanced security features including sitekey technology.”

CashSender.com will simply charge an industry standard 1.5 percent transaction fee for every payment sent or received. Merchants can elect to pay both ends of the transaction fee, saving their customers money. Also CashSender does not allow payments via credit card which saves merchants the headaches of chargebacks, pending payments, reserves and service charges.

“The result is we only charge pennies per transaction compared with the competition,” Tenby said. “How big of a pal are they when they charge more to handle the same pay transaction.”

CashSender.com is also eliminating the high fees related to cross border payments; business account status; use by international residents and use of foreign currency.

“With the United States economy struggling, we really wanted to do everything we can to help small business grow by lowering their costs,” Tenby said. “After all, small business is the engine of growth and employment in the United States.

United States residents can add and withdraw funds from their CashSender accounts with bank-to-bank e-checks and paper checks, as well as electronically from banks in the iPay Technologies network. Full electronic facilities for United States customers are expected later this year. CashSender currently offers full electronic funding and withdraw facilities for its Canadian and Euro Zone members, and the company plans to ultimately service the remittance markets of China, India, Turkey, and the Philippines

“Our service is perfect for the small merchant selling downloads, subscriptions, ring tones and other low cost items online and across borders,” Tenby said. “We aim to be the payment transaction processor of choice for small market merchants.”

For more information about CashSender, or to start saving money on your online merchant transactions today, please visit them online at www.cashsender.com.

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