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The Perks of Using E-Money in Your Online Transactions

Updated on May 7, 2013

In my hub— What You Need to Know About E-Currency--we talked about what e-currency or e-money is. In this hub, we’re going to find out how this innovative electronic payment system can make your online business transactions more convenient and safe.

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Perk # One: Convenience

Perhaps the greatest advantage that you can get from using ecash is convenience. With the use of an ewallet, you can easily send and receive money anytime and anywhere you want to. You can purchase almost anything from the US even if you’re in a holiday in the beautiful and mesmerizing island of New Caledonia. Likewise, if you’re a merchant, you can easily receive payments from a European client even if you’re in the exotic country of Thailand.

Aside from that, e-currency is faster and more reliable than bank checks. Usually, you need to wait for a couple of days for the check to clear, however, with e-money you can receive or send payments right away. In addition, the fees of online money vendors are significantly lower compared to that of the banks. This payment method is not only convenient, it’s cost-effective as well.

PERK # Two: Anonymity

Keeping your identity anonymous is another perk of using ecash. Unlike paying with debit or credit cards, you don’t need to reveal your name and other important details when using this electronic payment system in your online business transactions.

Your chosen ewallet provider will keep your identity secure and will not reveal it during your virtual transactions. The person whom you’re doing transactions with receives your payment but may not know your real identity, unless you choose to disclose it to him.

Using e-money is an effective way to avoid identity theft and credit card frauds.

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PERK # Three: Security

Many people avoid doing any transaction on the Internet simply because they think that it is unsafe. Likewise, a lot of people do not opt for e-currency because they have this false notion that it is unstable and unreliable. However, this is far from the truth. In fact, using this payment method is one of the safest means to send and receive money. For one thing, using an ewallet will protect your identity, as discussed above.

Aside from that, every transaction that involves the use of electronic currency requires a PIN or a personal identification number before it can be completed. This simply means that as long as no other person knows your PIN, your ewallet account and money is highly secure and safe from getting hacked. You can be sure that no transaction will be authorized unless you approve it since only you have the access to the PIN.

Perk # Four: Dependability

Another benefit that comes with using an ewallet is thorough recording of online business transactions. Everytime you receive or send money via e-currency, your bank documents your transactions in their database.

These recordings contain all the important details of your transactions such as the date and the venue, the name of the receiver, and the name of the sender. Since your bank has all the information regarding your virtual transactions, you can easily access or view them anytime you want to if in case there are details you need to know or there are disputes that you need to settle.

With the use of this electronic payment system, you can conveniently and securely conduct business transactions in the Internet. However, you also need to make sure that the e-currency vendor you will choose is legitimate, reliable, and trustworthy.

Now that you already know the perks of using this payment method, it’s time for you to take advantage of it.

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