People are talking about PayPal is becoming a virtual monoploy in US after the shutdown of Yahoo's PayDirect. This reader from Estonia is wondering why US still don't have any decent service, when over ten years ago it is already possible "for anyone with bank account in any Estonian bank to pay anyone else with a bank account."

I use the free Yahoo Bill Pay to pay my bills whenever possible (hope this service won't be affected.) The downside of this free service is that it can only pay to a limited number of participating merchants, payment have to be scheduled one week in advance, and the website goes offline regularly. All other places charge a ridiculous amount of monthly fee to use this kind of services. Come on, I elect to make my payment electronically and the merchant's bottom line is stand to benefit, since they can avoid the costly paper check payment processing. Now you even ask customers to pay for this?

2004.10.24 [web, finance] - comments (0)