elgato
Joined: 24 Feb 2005
Posts: 16923
Location: Texas
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| Posted: Thu Mar 08, 2007 10:14 am Post subject: PaidByCash Launches Payment Service For Ecommerce |
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Retail Expansion Network has launched PaidByCash, a way for shoppers to complete cash transactions over the Internet at all sites that accept MasterCard, including eBay sellers. Consumers pay cash at one of 60,000 neighborhood retail outlets in the company's nationwide network. They verify their payment on the PaidByCash website, where they are then instantly issued a Virtual MasterCard that is used to pay online merchants.
Any Internet retailer that currently accepts Debit MasterCard can add the PaidByCash logo to their checkout process. The company said that by leveraging the MasterCard system, PaidByCash works seamlessly with any existing ecommerce platform or payment gateway.
Michael Marubio, CEO of Retail Expansion Network, addressed questions about the use of PaidByCash by sellers on eBay, which has a strict "Accepted Payments" policy. "PayPal explicitly accepts MasterCard. As long as PayPal and eBay continue to accept, process, and settle MasterCard transactions, buyers and sellers may use PaidByCash. There are, of course, specific rules about the limitations of displaying this option to eBay consumers from a seller's site - though they mostly deal with logo size limitations. PaidByCash has made available the correct sized logos for display on any eBay page, and are available once a merchant is signed up. At the end of the day, buyers are simply purchasing a prepaid MasterCard, which they then "spend" on the seller's site through PayPal."
more.. link to news article |
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