Why are foreign payment systems worse than ours?

2016-05-15 00:00:00:

Why are foreign payment systems worse than ours?

When choosing a payment system, users inevitably compare their characteristics and try to give preference to only the best option. In this case, the choice is always between two options - foreign or domestic systems. What points to pay special attention to? Are foreign payment systems really worse than their domestic counterparts, or is it a myth? The main options are discussed below.

PayPal

In order to understand why foreign payment systems are worse, it is worth considering the features of the most popular of them. Thus, the PayPal system stands out among its competitors in the greatest demand among users, whose number exceeds 160 million people. The system itself operates in 190 countries around the world. Since 2002, eBay has acquired PayPal for $ 1.5 billion, making it the premier settlement tool.

So is the foreign payment system worse? From the point of view of its functionality and possibilities of international trade, there is no at all. The payment program can be easily “tied” to the site and receive payments for goods or services. In addition, funds can be transferred to other users or received. But that is not all. It is possible to send notifications about payments, make payments simultaneously to a group of users, and so on.

The main difficulty of PayPal lies in the fact that CIS residents have the right to deposit funds into the system, but they will not be able to withdraw them. On the other hand, many users see this as an advantage. Today, thousands of resources accept payments through PayPal and with a plastic card. The payment system allows you to make payments using "plastic", which guarantees the protection of personal data. To open an account in the system, you just need to have a MasterCard or VISA card in your hands.

When registering, it is important to be careful and only enter truthful data. A slight deviation may cause the account to be blocked. The registration process itself used to be an insurmountable obstacle, because there was no Russian interface. Today this problem has been resolved.

The linked card can be opened in any of the currencies, but during the verification process it will be charged an amount of $ 1.95. As soon as the payment is made, it is worth taking a printout of the invoice and finding the 4-digit code in the line of the payment made. This password is entered in the system account. The money is returned to the account after the first operation.

Why is a foreign payment system worse than domestic counterparts? The following points should be highlighted here:

- Restriction on withdrawal of funds for CIS residents - it is possible only to deposit funds. For many people, the limitation creates difficulties and forces them to seek alternatives. It is allowed to spend available money only on the purchase of goods;

- High commissions. When making a payment through PayPal, you will have to fork out for currency conversion (if purchases are made abroad). There may be situations where the seller does not want to pay the commission. In this case, the money is charged to the buyer (4%). If you "tie" the payment system to an online store or website, then you should accept the regular payment of 10 rubles for each operation and the need to pay a percentage of the cost of the goods (2.9-3.9%). The amount of the payment depends on the total volume of transactions, as well as the place where it is carried out (abroad or within the country);

- There are a number of restrictions for users from CIS countries. For example, in Russia it is forbidden to make transfers worth more than 40 thousand rubles per month. Moreover, the size of one transaction should not exceed 15 thousand. To increase the limit, you will have to go through identification;

- Ability to block an account. In this case, the administration reserves the right not to explain the reasons.
 

StormPay

The Stormpay payment system has been operating since 2002, and within a short period of time it managed to become popular. Anyone can register in the system. In this case, the account number is an electronic mailbox. If necessary, e-mail addresses are allowed to be added or removed. To transfer funds to another person, it is enough to enter his mailbox number.

Why is this foreign payment system worse? The following points should be highlighted here:

- There is a minimum amount for transfer, which is $ 1;

- It will not be possible to convert money from a Stormpay account to other payment systems, for example, WebMoney or e-gold;

- When making a transaction, a commission is charged, the amount of which is 6.9% plus 0.69 dollars of the total payment amount. If the user is verified, then the size of payments is almost halved - to 3.9% plus 0.39 US dollars of the transaction volume.
 

Moneybookers

The Moneybookers payment system has been operating since 2003. Her experience in the market is less than that of other competitors, but that does not stop her from gaining momentum and gradually squeezing out giants like PayPal. After three years of operation, the payment system reached the threshold of transactions, the volume of which amounted to one billion euros. Today this figure has increased tenfold.

Is this foreign payment system worse? Based on the specifics of its use, Moneybookers is notable for its convenience and accessibility for domestic users. But there are a number of disadvantages:

- Commission size - 1% of the transaction volume. In this case, the sending party must pay the funds;

- There is no possibility of private registration in the system. On the one hand, this is an inconvenience, and on the other, the risk of fraud is reduced significantly;

- The buyer cannot make payment to the seller directly from the credit card. First you will have to open an account and then carry out the operation;

- In some CIS countries the Moneybookers payment system is not yet available.
 

E-gold

The E-gold payment system is well known to many Internet users. It has been operating since 1996 and is distinguished by its reliability and positive reputation. The last factor is confirmed by the fact that the banks of the United States of America and Switzerland are the guarantors of the system. The main difference of the system is that the funds have physical support, which is gold. The number of users is growing every year.

Why is this foreign payment system worse? There are a few disadvantages, but they are:

- The money that circulates within the system is tied to the gold rate, which makes it dependent on the market price of precious metals. A user who invested in gold and left it in storage risks losing part of the money in the system;

- You will have to pay a certain commission for keeping funds - 0.08%;

- When transferring money, you should be prepared for a commission of 1% of the total transaction volume.

Above, only a small part of the systems operating abroad and available in the CIS countries is considered. But are foreign payment systems worse? To summarize, the following disadvantages should be highlighted:

    High commission rates that often scare users away.
    Inaccessibility of withdrawal of funds (typical for some systems).
    Lack of a Russian-language interface (almost everywhere this problem is solved).
    High requirements for user identification.
    Additional verification costs.

The above is considered, the worse foreign payment systems are. But do not forget about the advantages, which often overlap the negative sides.