Monday, April 14, 2008

Alternative to Paypal

Here is a new online payment system similar to Paypal called Revolution Money Exchange. They have no fees for accepting payments. It looks very promising. This basically appears to be a bank account of sorts and the bank is First Bank and Trust in Brookings, South Dakota. It's FDIC insured as well. Since you are opening an account with them, they do request your Social Security number.

There is a forum post on Etsy showing all of the sellers who now accept RME.

From their website:

Collect online payments for free when your customers use MoneyExchange.

  • It's free to collect online payments from buyers with MoneyExchange.
  • Sending and receiving payments online between accountholders is free.
  • Online transfers to and from your bank account are free.
  • Get $10 for accounts you refer — up to $500.*
  • Plus, your customers, can sign up for free, and they will get a $25 bonus** if they open an account before April 15, 2008.
You can click the link below to get more information or sign up for an account.

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