PayOutOnline??

[Chris]

peterw,

I'll echo some of Collin's sentiments by thanking you for coming and clarifying the logistics behind payoutonline. You're the first corporate rep to actually make a positive move like this. 8)

I must admit that having read the additional facts from Webb and yourself, plus the fact that you've come and addressed the constructive criticisms, my impression of the payoutonline service has improved. I can truly appreciate some of the challenges faced by the service, and hope that the powers that be in the financial sector will make the appropriate moves towards addressing these issues.

I would be remiss if I didn't also highlight one of CKnight's points. Why not try to facilitate payment by credit cards for those who may have smaller payments to make or for those with generous credit limits ?

[peterw]

Thanks for the kudos - like I say, I really get a lot from your forum's feedback thread. Keep it up, it's a dynamic and incisive group!

When we looked at credit cards, we saw the market potential as being limited. That is, only customers with credit cards will use them (obviously) and if you can pay your bills through PayOutOnline with a credit card, wouldn't you also be able to pay the payee directly with a credit card anyway?

Your drilling down on this as an issue is leading me to look at it again...watch this space.

[CKnight]

[quote author=peterw link=board=1;threadid=30;start=15#1153 date=1033684901]
if you can pay your bills through PayOutOnline with a credit card, wouldn't you also be able to pay the payee directly with a credit card anyway?
[/quote]

Not if the payee doesn't offer that facility, or at least, not remotely.

That's where the middleman (you) comes in. I make a CC payment to YOUR bank account, you then forward payment to the intended payee's bank ac. with a conformation sent to them that payment has been received.

All you need is an understanding between your service and your list of coorporate clients that once you send them conformation of payment, they should go ahead and deliver their product or service.

[peterw]

Just wanted to update the forum - I checked with BNS, NCB and Citibank - and none will give us a merchant account for online credit card use, although NCB says "soon". Still checking....

[Collin]

That would be so as none of them currenlty offer that facility to the best of my knowledge. You would have to use an oversees bank to implement that facility.

Word is, NCB is currently working on revamping their entire network systems and also will soon be offering internet banking to its customers upon completion. They were expected to have started offering suhc facilities as early as July of this year, but I figured they had some issues with the system.

[vicesquad]

I normally find the TeleMidas system great for money under JMD20000. Over that I better wait a day or two for it to hit the desired account/merchant and/or not try it on the weekend. Of every ten transactions I normally have to call in for assistance/query/cleanup or for them to download the transaction records once.

Back to PayOnline, my limited understanding of the problem was that the banks were behind technologically so it is a problem for PayOnline to work as we thought it should have. Something about the laws here as well.

Please correct me if I'm wrong, but if paying locally via telephone causes problems, with even a credit/debit card swipe at a merchant site is problematic, then PayOnline might be more reliable if I hand deliver the form and cash to JNBS it might reach when I want it to. Just say PayOverseas or something.

[peterw]

I'm surprised that TeleMidas needs to have so many transactions "cleaned ip" - our experience, and the reason that PayOutOnline is designed as it is - is that the systems usually work well when you can get the people out of the way. Our transactions are getting posted to the recipients' accounts very predictably, which is gratifying.

As we go on we'll find ways I hope of making these even simpler, and quicker. The JNBS alternative now is realtively painless, and opening an account with them makes it even more painless!

[CKnight]

goto: www.payoutonline.com

sign up with my information including credit card info, and merchants I want to add to my payment list.

enter: <username>, <password>
select: <merchant I wish to pay>
enter: <amount>
enter: <payment date>
click: <make payment>


That's e-commerce. Anything else is a joke.

[Chris]

I just received correspondence by e-mail that Jamaican YAP Jack users may as of October 21, 2002, begin using PayOutOnline.com as an additional means of adding value to their YAP Jack account. As the correspondence indicated and I agree, this move will greatly assist those YAP Jack users without US$ credit cards. I suspect that Webcom's plans to use Paymaster as an alternative payment vehicle will be put on hold