Several years ago I run into solving the problem of fast and
the most comfortable money transaction from and to my credit card. I tried
different banking and independent payment systems and reveal some features of
different transactions. Below I want to share my experience about using
different types of transactions.
Retail
Indisputable the most widespread type of transactions. Every
card holder undoubtfully used it. Any purchase in the store or service payment
is paid by deduction of funds from credit card through the special terminal.
The same type of transactions is used for payment in Internet. I have not found
any shoal in this transaction. The most important is your confidence in money
availability in your credit card or in seriousness of online store. There is no
sense in telling stories about money transactions not to online store’s account
but to off-site account and not receiving the goods, because it is the case of
fraud not the system of money transaction failure.
Unique
I think it is the most actual type of transaction for me. It
is actual for those too who has an account in Forex brokerage companies, plays
in online casino or just want to transfer some funds from their card to any
other offsite account. It can be your account in broker’s company or casino or
one more bank account or electronic payment system. In other words this
transaction is used not for some services or goods but for any other purpose.
However not all the payment systems, banks and brokers use this type of
transaction. Moreover those who decided to replenish their own account or
account of any other person from the credit card will have to use processing
ceter, which controls money trasactions not too liberally and speed of
transacton is not that high. However now “unique” status of this transaction is
moving to “popular”. Moneybookers allows to transfer money from credit card to
third party’s accounts or to account in broker companies for its clients.
But you can partake of the delights of Unique transaction
using LiqPay payment system. However on the strength of its “youth” this system
is available for limited amount of people. For online poker players this
service together with LiqPay online casino Bwin is presented, for Forex traders
– international broker – InstaForex.
Talking in details I can tell that LiqPay payment system
allows to transfer funds from credit card Visa or MasterCard to the virtual
account in LiqPay system, which is tied to mobile number and vice-versa. After
that money can be transferred toward another phone number, wihdrawn back to
credit card or left in the account and spent later. In spite of the Unique
transaction in LiqPy system is still testing, I can say that LiqPay provides
the full spektr of this type of transactions.
And for the most curious people I describe shortly simplier
and dedicated transactions with credit cards usage:
- Cash. This transaction is used for cash
withdrawal in MVE.
- ATM. This transaction is used for cash withdrawal
in automated teller machine.
-
Credit. This type of transaction is used for
credit card replenishing in bank office, equipped with POS-terminal.
- Note Acceptance. This type of transaction is
used for credit card replenishing via ATM with cash-in function.
- Refund. This transaction is used for repayment
of the store in case you return the goods.
- Reversal. It is used for repayment but the
difference from Refund is that funds was not deducted from the card.
The article is added by Angelica Panfilenkova,
Senior specialist of financial department
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Posted by: Liza Marie | January 17, 2012 at 07:19 PM