UK-based payments firm netCash Ltd has begun targeting internet retailers, making its eponymous digital currency available to the retail community as a possible alternative to card or PayPal payments.
The company claims that netCash, the first digital currency to span both mobile devices and the PC, offers a compelling alternative for retailers looking for a solution to the costs and risks of accepting credit card payments over the internet.
The digital payment allows for real-time funds transfers, eliminates the risks of chargebacks from stolen credit cards, and boasts processing costs of just 1%.
netCash has already been adopted by companies4u.com, a specialist in developing e-commerce solutions for businesses, and there are plans to develop the payment option for plastic electronic newspapers, which are anticipated to hit the market in 2008.
More immediately the company is targeting the eBay community. In addition, during its retailer recruitment campaign, netCash is waiving the standard sign-up cost of GBP450, which includes integration of netCash as a payment option on the retailer’s website.
I’m really not sure why a business would want to process credit cards given what we’re offering, commented Mark Hodkin, international marketing coordinator for netCash.