1. PayPal:

Good ol’ PayPal…or is it? PayPal is world’s most used payment method online serving millions of users across the globe but it has one major mistake - it allows withdrawing funds to only few selected countries and this is where it all stops. Most of you probably want to sell stuff and not looking to buy anything but you’re cut off and there’s nothing you can do about it. If you live in Ghana you shouldn’t worry too much because I live in European Union and I still can’t use PayPal. If you’re on the other side of Atlantic, I’d recommend it to anyone because it really makes your life easier. If there’s a website online selling anything, it’s PayPal enabled.

2. Google Checkout:

This is probably the next killer from Google Productions. Since Google is monopolizing everything it was just a matter of time before we could see an online money processing method. It doesn’t directly compete with PayPal because you can’t make transactions between users but there has to be something about it since PayPal banned Google Checkout on E-Bay. Don’t worry about your approval because Google recognizes over 140 countries world wide so you only need a credit card to get started. It’s simple and easy and soon there will be tons of websites offering Google Checkout.

3.Moneybookers:

This is the best option currently available. Registration is very simple and you don’t have to wait for days to get approved, your access is granted instantly no matter where you come from. Transaction fees are very low and what’s best - you don’t need a credit card to get started. Ofcourse it’s an option but you can also manage your funds with your bank account. This is why more and more people use it every day (currently 3,5mil registered users). Sending process is the same as with PayPal, you only need one’s email address to send money and you can withdraw your funds anytime.

4. E-Gold:

E-Gold is a digital gold currency system which allows instant transfer of gold ownership between users. You exchange money for electronic gold units which you can send or recieve and then convert back to cash. This is how it works. You don’t fund your account the way you do it with PayPal or Moneybookers. All you have to do is choose one of hundreds gold providers, which will convert your money to gold for low fee via any kind of method possible (bank transfer, wire transfer, credit card…), and start buying or selling. E-Gold is popular because it doesn’t categorize accounts and it’s easy to use but there’s no fraud protection system because it’s all user operated. 

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