Jack Hepburn Tait Unit 8 NoChex E-commerce payment techniques.

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Presentation transcript:

Jack Hepburn Tait Unit 8 NoChex E-commerce payment techniques

How to use First, you must of course have an account. When you wish to purchase an item you will be directed to their secure online payment pages. You must now enter your details/information. Done  NoChex claims that ‘Paying online using Nochex could not be simpler.’  Nochex also claims it ‘is the only online payment provider that delivers such a secure, simple, and low cost online payment system.’

Good Points Trading Accounts No monthly or annual fees Instant availability of funds Sometimes gives special offers (Free merchant accounts etc.) Personal Accounts Ability to send and receive money Pay for online purchases Suitable for bumblebee auctions Suitable for police auctions

Controversy/Issues  Nochex doesn’t offer refunds if you are scammed out of your money by a seller, or do not receive your item. Instead, Nochex urges the customer to attempt to settle the dispute or report the seller to law enforcement.  The company intends to pursue changes to their protection policy to avoid people being scammed whilst using their service, but so far nothing has been done to combat the problem.

Controversy/Issues Cont.  Nochex was accused of adding transitional fees to purchases without telling the customer.  The company claimed that the fees were a result of Mastercard or the consumer’s bank treating the purchases as cash advances.  Mastercard stated that they weren’t responsible for the fees, while another bank stated that purchases from Nochex were treated as cash advances. Nochex have now put up a warning on their site about additional fees.

Forum opinions… “Ive got about £500 in my nochex account thats been there for nearly 2 years and they will not let me draw it out after countless amounts of correspondance.” jaspey - 8th May 2010, 18:55 “It doesn't take much reading on forums to convince oneself that Nochex are as dodgy as a very dodgy thing with small dodgy bells attached to it and a pretty dodgy red bow.” sysops - 7th May 2010, 12:22 “I used Nochex a few years ago. When I closed my account, there was £80 left which they said they would transfer to my bank account after three months. I NEVER saw that money. Maybe problems arise when you want to leave them...?” Christiane - 10th May 2010, 21:15

Comparison NoChex is not as good as other services such as PayPal in my opinion as PayPal not only allows you to transfer money online but it also protects you from any wrong doing done by the other member. Credit/Debit cards have a good level of protection also unlike NoChex. Electronic cheques have a high efficiency although it also does not protect you like PayPal does.

Conclusion  After researching NoChex I believe that it is a bad service, it does not offer the user protection and the company itself seems a bit dodgy in areas.  PayPal seems to be its main competitor and PayPal is a far better service, it is more widely available, offers security, more efficient and it goes on.  NoChex’s service is disliked by many and it seems to be the general opinion that it is bad.