Moni - electronic currency exchange monitoring

PayPal, in their ‘not so evil’ attempt to rule the world’s payment systems, is now offering a super charged new virtual card product for its users. The new service is no doubt in response to the growing popularity of Google Checkout and contains some similar features.In partnership with MasterCard, they are launching this virtual card payment solution so account holders can spend money and shop at web sites that don’t currently accept PayPal. According to other press reports, PayPal’s new Secure Card plug-in was offered for testing to three million customers and is available to US consumers from this day forward.

The technology is from Orbiscom and here is how it works. Shop the Internet, land on a shopping cart check out page and your Secure Card browser plug-in will automatically fill in the form with your stored personal data. Then the PayPal system will generate just for you a unique Mastercard virtual card for that payment specific payment amount. This is a one time use card transaction and comes complete with the card verification code and directly debited from your PayPal account.

What is the cool part of this transaction? For the merchant receiving your payment, the entire check out looks and feels exactly like a standard card payment. The transaction infomation does not specify, “this is a PayPal virtual card transaction”. The whole check out looks just like another MasterCard payment and the merchant is no wiser. To further simplify things, the payment shows up in the PayPal shopper’s account just like another payment. This new feature is so simple and so convenient how could anyone ever shop online and NOT use their PayPal account, its magnificent.

Plug-In works like a signature debit card, with funds drawn from users’ PayPal accounts and then paid within a few days into merchant accounts through the MasterCard backbone network, with processing provided by First Data Corp. “The biggest thing is [account holders] can still use their PayPal accounts to pay and check out,” says a PayPal spokesperson. If the user’s prepaid account holds insufficient funds, the product defaults to the user’s checking account. *orbiscom.com

Another brilliant product from PayPal.

Yes, you heard it right!

PayPal now offers withdrawal to a Bank account within 2-5 days. This is amazing news for people living across the globe as now there is no more delay in getting the money to exactly where you guys want.

previously, only USA/Ca/UK/AU had this facility but now.. more countries are added to the list.

hang on hang on.. no need to get excited..

remember, in order to withdraw, you still need to verify your PayPal account with a credit card and/or bank account so the party is still on and you may look around on this blog to find really cool things.

Cheers until next time when I get some more cool news for this blog readers.

The FinCen items below are certainly not the first appearance of laws, regulations or articles detailing some scary Iranian financial dealings around the globe. Especially lately, there have been many items in the press and remarks by various governments detailing how funding for terrorists and various dirty money deals have originated in Tehran.

At that time there were volumes of protests from the local Iranian e-gold users. That was almost one year ago, it was on November 24, these users all claimed that e-gold Ltd. closed their accounts and ‘absorbed’ their deposits. At that time, even some other more well known DGC players stepped in and added their two cents about how it was a travesty of justice for a global payments company to selfishly block this one country.

Lots of them even signed a petition and claimed it was headed for the US Treasury Department in protest.

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PayPal has announced its 2007 holiday promotions program offering consumers 20 percent cash-back from PayPal on holiday purchases through select merchants, a daily shopping sweepstakes, and special offers, including free shipping, from PayPal merchants.

“Consumers choose PayPal because they know it is the safer and easier way to pay online,” said Susan Phillips, vice president of marketing and PayPal’s Online Purchase Pro. “Now, PayPal is giving customers even more reasons to use their PayPal accounts with cash back offers, big savings, and the chance to win great prizes just in time for the busy holiday shopping season.”

Chase Paymentech and Preferred Health Technology have announced A-Claim - calling it “the first fully-integrated healthcare payment solution designed to reduce accounts receivables for physicians and simplify claims payments for patients.”

A-Claim combines award-winning technology innovation with Chase Paymentech’s state-of-the-art payment functionality and enhanced payment processes to provide physicians with reduced accounts receivable, shorter collection cycles and decreased risk of non-payment. A-Claim achieves the full-cycle automation of information and payment flows, from the submission of claims to the receipt of payments and reconciliation. Patients benefit by being able to use their credit or debit card, along with their health insurance information, to automatically pay their portion of the bill.

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