The day of the credit card is numbered. Don't get me wrong, credit cards have a bit to run, but as a payment device the reason for their existence is no longer in the market place. They do not offer the credit device they once did, and if you use them for credit you are charged a hefty percentage rate.
To accept payments online the need for a merchant back account, % transaction charges and all the other plethora of layered charges and percentages involved in normal credit card transactions are fast becoming a large target for technology finance business's .
Dwolla works like this.
You lodge money to your Dwolla account and spend it online with Dwolla accepting sites.
25c per transaction regardless of value and free for transactions under $10. It is so simple it leaves you scratching your head wondering why this and other internet payment systems are not taking off. One will and when it does it will rock the retail banking sector to its core. It will be more powerful than Facebook twitter because it will be underpinning retail finance in the world.
A network of stores, mobile to mobile payments and a plethora of other really cool time saving finance tools are going to explode onto the market.
www.dwolla.com for more information.
Really cool video here too.