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Electronic Payment Systems: Top 6 Popular in the World

Electronic Payment Systems (EPS) is a system of payments in the Internet between individuals or legal entities in carrying out various operations: the purchase in an online store, money transfers between users, payment for services, etc. Such transactions are conducted non-cash and are a substitute for the cash money we are accustomed to.

Anyone can register in the electronic payment system. Usually, the procedure includes filling in the registration form and is free of charge. Afterwards the account in fiat currencies USD, RUB, EUR, UAH etc. and/or cryptocurrency is provided. If required, it is necessary to verify the account. This increases the limits and the number of ways to deposit and withdraw money maru gujarat.

There are many different electronic currencies and wallets. Advcash and Payeer are popular lately. In this article we will consider popular international electronic payment systems.

List of electronic payment systems

PayPal

PayPal was founded in 1998 and serves more than 200 million users worldwide. It supports personal and corporate accounts. There is a mobile detectmind application, supported by a number of convenient functions for quick payments, for example, One Touch – money transactions without having to enter the password every time. The company is registered in the U.S., but has offices in many countries.

Features of PayPal payment system:

  • To make financial transfers and purchases without any service restrictions, it is required to be verified (confirmation of confidential data and bank card). Non-verified users have certain limits on transactions, which are displayed in the personal cabinet.
  • There is no possibility to get a PayPal debit card.
  • 25 currencies of the world are supported.
  • You can replenish your account in the koiusa system with a bank card and cash. Withdrawal to the bank account is available.
  • Transfer between members of the system without commission, with the card 3.4% + 10 ₽.
  • Cryptocurrency is not supported.

WebMoney

The owner of the WebMoney system is the company WMTransfer Ltd, registered in Lithuania. The system serves to carry out instant and irrevocable transactions. For convenience, all purses of one user are united in a single storage (keeper), which has a registration number – WMID.

It is, without exaggeration, the most popular electronic payment system in the former CIS countries – says Кирилл Юровский in his interview.

Features of the WebMoney payment system:

  • Verification is a receipt of the certificate of this or that level. The certificate is a virtual certificate made on the basis of the personal data provided by the user. The higher the WM-certificate level the more opportunities for business and personal transactions open to the participant.
  • There is an opportunity to order the card PaySpark UnionPay International, tied to the wallet. The fee to issue the card is $12. Ordering is available only to the member with a formal certificate.
  • Supported currencies, cryptocurrencies and assets: ruble, dollar, euro, Belarusian ruble, dong (Vietnam), Uzbek sum, hryvnia, gold, Bitcoin, Bitcoin Cash, Lightcoin.
  • You can replenish your account via cash and electronic money, bank account, payment terminals. Withdraw via cash, card, bank account, digital wallet.
  • Fee for sending funds within the system is 0.8%, but no less than 0.01WM*. Is not charged when transferring between purses of the same WM-identifier and between purses of the same certificate (above initial).

Payeer

Payeer e-wallet belongs to the company PAYCORP LIMITED, registered in Vanuatu. When registering, each user is given a so-called Master Key, which is necessary to perform some financial transactions. There is an online exchanger inside the system and mass payments are available.

Features of the Payeer payment system:

  • Verification is not required. It is necessary for the safety of the account and to remove the funds withdrawal limit of 2,000 USD per day.
  • Three types of fiat currencies are supported: dollar, euro, ruble. And seven cryptocurrencies: Bitcoin, Ethereum, Ripple, Bitcoin Cash, Tether, Litecoin, Dash.
  • You can replenish your balance from bank cards, through well-known EPS, with cryptocurrency or from mobile operators. Withdrawal is carried out by the same methods, including Ukrainian bank accounts.
  • Fee for internal transfer of funds 0.95%, to external purses differently, from 0 to 5%.

Skrill

Skrill is an electronic payment system that has been in operation since 2002. It is registered in London, UK. Now together with Neteller belongs to the Paysafe Group, so these two EPS are much alike. Service allows you to send and receive money, linking to an account cards and bank accounts. This way you can conveniently pay at any time, using only your email address and account password.

Features of the Skrill payment system:

  • Account verification is a way to gain full access to the full range of Skrill Wallet services. Initially, limits are set, upon exhaustion of which an unverified user will not be able to use the platform’s services.
  • You can activate the Skrill Virtual Prepaid Mastercard to make purchases online.
  • Supports all world currencies (over 40) and several popular cryptocurrencies: Bitcoin, EOS, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, XRP, Stellar, 0x.
  • You can deposit and withdraw funds via cryptocurrency, bank cards, and various electronic payment systems.
  • The exchange of different currencies within the service is subject to a fee of 3.99%. Withdrawal fees range from zero to 4.99% to 7.5%. Transfer to another user of the system will cost 1.45%. Deposits to the account – 1% of the amount.
  • As with Neteller, failure to use your account for 12 months is punishable by a monthly fee of $5.

Neteller

Neteller is a payment system founded in 1999. The country of registration is Great Britain. The service is a fast and easy way to transfer money over the Internet. Allows you to send funds even to those who do not have an account Neteller, notifying about it by an electronic message.

Features of the payment system Neteller:

  • Verification is not required, it affects transaction limits and available deposit methods. Verification is available only after making a deposit.
  • It is not possible to order a card.
  • The resource supports 28 world currencies.
  • You can replenish the balance and withdraw finances using a bank card, cryptocurrency, a large choice of widespread and even rare payment systems.
  • All transactions requiring currency exchange are subject to a 3.99% commission. Deposit fee is 2.5%. A commission of 1.45% for a transfer to another user. For withdrawal – from zero to 1.45% + 0.50 USD, depending on the method of withdrawal.
  • You can work with Bitcoin, EOS, Bitcoin Cash, Etherium, Etherium Classic, Litecoin, Ripple, XLM, 0x cryptocurrencies.
  • If you do not use the account for 12 months while its balance is positive, you will be charged a monthly fee of 5 USD (equivalent to the account currency).

Payoneer

The Payoneer payment system appeared in 2005 and is registered in New York. It is distinguished by its focus on entrepreneurs and specialists, gives them an opportunity to enter new markets more easily, thanks to the smooth execution of payment transactions. In 2016, the company opened an additional branch in India, where the technology sector is now booming.

Features of the Payoneer payment system:

  • In some cases, the service requires documents to confirm the user’s identity or asks for more details about the transaction. Documents need to be sent by email.
  • You can order a personalized plastic card. Free of charge, annual fee $29.95.
  • Supported currencies: USD, EUR, CAD, GBP, JPY, AUD, CNH.
  • You can deposit by bank cards, payment systems, as well as receive payments from connected services (Amazon, Shutterstock, etc.). Withdrawal is carried out on your own or someone else’s bank account.
  • Transactions between purses Payoneer are free of charge. Deposit fees are 0-1% for deposits and up to 2% for withdrawals.
  • Cryptocurrency is not supported.

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