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April 31, 2006
Welcome DigitalECO to the e-currency world. We are here to make a difference!.
As an Internet user without a credit card or debit card, you will definitely want to sign on with Digitaleco. Merchants looking for an additional revenue source should consider registering too.
Digitaleco has opened up a whole new world of possibilities as it enables those without credit cards to shop from online sites such as Ebay.com Amazon.com, Yahoo.com, Google.com, lookingforromance.com and a wide variety of other merchants. The service is hassle free and straightforward: the only requirement is enough funds in one’s account to cover planned purchases.
For customers who possess a credit card but are concerned about the privacy of their financial information as well as protection from credit card fraud, Digitaleco offers peace of mind. According to the Federal Trade Commission, credit card numbers and expiry dates are the two most sensitive pieces of financial information one can ever disclose to others. By using Digitaleco, customers are guaranteed that fraudsters have no way of getting to that information.
For merchants, Digitaleco is a dream come true as it gives them access to additional sources of revenue without having to worry about charge backs. Recent studies show that at least one third of the estimated 750 million Internet users worldwide do not have credit cards to buy goods online with. This is due to the inability of their countries to accept credit cards. When a merchant begins to accept Digitaleco, these underserved millions become viable customers immediately. Since Digitaleco is a prepaid service, merchants are protected from the threat of charge back and fraudulent purchases. Customers make their payment at the time of purchase and all transactions take place on a secure web site.
Digitaleco is the sole owner of all information that customers supply during the process of registration and when using the Digitaleco website. While data such as names and shipping addresses may be shared with merchants from whom the customer makes purchases, bank accounts and credit card details are not divulged to third parties.
Since registration and online shopping is free for customers, the obvious question is how does Digitaleco make its money? Digitaleco’s main source of revenue is fees and commissions. For example, on conversion of an account to an online debit card, activation fees starting from $3.95 are charged. Monthly debit card statements cost $0.99 and another $0.99 is charged as a monthly service fee. Merchants pay a one time $45 to activate their account while Digitaleco’s per sale commissions ranges from 2.99 to 5.4% of the total sale plus $0.44 per transaction.
The key challenge to this payment solution is signing up enough merchants who will accept Digitaleco. As Digitaleco account-holders are now able to convert their funds to an online debit card and make direct payment to merchants instantly, this problem seems to have been solved. Overall, buyers may still experience some minor glitches when paying on some web sites that are not set up to accept prepaid debit cards, but these are common problems and should not be a major issue.
As the boundaries of the digital economy expand daily, Digitaleco will likely be one of the key players bringing in customers in currently underserved countries into the world of e-business. As its recognition grows, it may just become the premier method of online payments for those without credit cards in over 260 countries.