The Bloog

I remember the first time I used Google as well as my first Paypal transaction. These services changed the way we use the internet; a better search engine and a simpler, more secure way of paying online. 

Here comes another name and service that is bound to cause some change: Noca. Until now, Paypal, while ubiquitous in the e-commerce world, has been charging a hefty fee to merchants for processing transactions. The fee is not far from what credit card companies like Visa & Mastercard charge merchants to accept credit cards in their place of business – from 3% to 4%.

Noca tries to change that. The new service promises a zero cost payment system to merchants. But to be fair it’s not exactly zero; 0.25% to be exact. It also allows customers to pay with their chequing account, rather than with a credit card.

Read more at Noca’s site: Noca – Transact freely

We’ll have to see how many (online) merchants will jump on the wagon and how soon. Noca definitely has potential and I will look forward to making my first transaction as soon as it will roll out internationally (currently available only in US).

More information in this CNET article.