When you go into a physical store and buy a physical item, you can typically pay for that with physical money. Cash. However, as I’m sure you are keenly aware, things are nowhere near as simple anymore and there needs to be an easy and secure way to send and receive payments over the Internet. Your physical wallet needs to be supported by an e-wallet too.
And that brings us to today’s review of ePayments, a comprehensive online payment system with competitive fees, money transfers across the globe, and a secure infrastructure so you know your funds are safe.
Practical and Simple Online Payment
According to the About Page, ePayments got its start in 2011 as a means of facilitating payments within the affiliate marketing industry. The London-based company has since expanded to handle transactions from over 100 countries around the world in numerous other industries.
The fundamental principle behind ePayments should sound like a familiar one, as you’ve surely come across more than a few payment processing services while making money online (and making online purchases). In the case of ePayments, you can collect payments from anyone, make online payments to anyone, and put money into and take money out of your ePayments e-wallet quickly, conveniently and securely.
Transfers and payments within the ePayments ecosystem are free. If one ePayments user wants to send some money to another ePayments user, assuming the funds are already in the account, there are no fees whatsoever. And this is true on a global basis.
Spending with a Mastercard
One of the most common challenges that affiliate marketers and other online professionals face is figuring out the simplest way to access their money. They might have to wait several business days to withdraw the funds into their bank accounts, for instance. ePayments wants to make that easier for you.
The most convenient and efficient way to access the funds in your ePayments account is through the ePayments prepaid Mastercard. You simply transfer the money from your e-wallet to load up your credit card, spending the money just like you would with any other credit card.
Point of sale purchases carry a 0% transaction fee. Grab lunch, pick up the groceries, and buy a new flat screen TV. If you’d rather have cash on hand, there’s a daily ATM withdrawal limit of $3,000 and you’ll be charged $2.60 per transaction when withdrawing at an ATM.
Understanding the Fee Structure
You can already be assured that your funds are being kept securely, but how much is it going to cost you to use ePayments? The extensive fee chart is worth checking for the finer details on that matter.
To deposit funds into your ePayments e-wallet, bank transfers are free, while funding your account with WebMoney carries a 1% fee. Funding with a Visa or Mastercard has a 2.6% fee. To take money out, you’ll be charged 2.9% to your credit card, 2% to WebMoney, and 0.8% as a bank transfer. Withdrawing to a cryptocurrency like Bitcoin or Litecoin is free.
Realistically, the best way to get at your cash is by withdrawing to your ePayments prepaid Mastercard. The credit card does carry a $35 annual account maintenance fee and you’ll be charged a $10 monthly fee if your account is inactive for longer than six months.
There’s a Mobile App Too
With the mobile app, you can check on the balance on both your e-wallet and your prepaid Mastercard, conveniently shifting funds between the two with just a couple of quick taps. You’ll also notice that ePayments supports US Dollars, Euros and Russian Rubles. The app will let you exchange between currencies too.
If you want to check your transaction history or withdraw your funds to an external account, that can be accomplished through the mobile app as well. It’s really comprehensive.
Sending and Receiving Money Like a Pro
The three key components to ePayments is that your payments (and fund management) are fast, cost-effective and secure. This is great for affiliates, to be sure, as well as freelancers, small businesses, and even the general population.
There are two main types of accounts offered, Personal and Business, and signing up for an account takes less than 15 seconds. You simply provide either an email address or phone number and they’ll send you a confirmation code. That’s it.
To encourage more people to register, ePayments has a referral program in place where you’ll get $15 (or 12 Euro) for every new customer you send who orders and activates the Mastercard. It’s all very robust, convenient and easy.