Comments on: Noca Targets Transaction Fees with New Online Payment System

By: Noca - New online payment system

Noca - New online payment system — Tue, 01 Jul 2008 01:36:27 +0000

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By: Knowledge Base: more articles « Oronjo.com

Knowledge Base: more articles « Oronjo.com — Sat, 15 Mar 2008 11:58:26 +0000

[...] TechCrunch: Noca Targets Transaction Fees with New Online Payment System [...]

By: Anonymous

Anonymous — Sat, 08 Mar 2008 01:27:09 +0000

free car quote…

Excellent post. Keep it up!…

By: Michael

Michael — Fri, 15 Feb 2008 17:58:50 +0000

Lots of alternate payment processors have been doing micro-payments for years. The digital previous metals industries all handle micro-payments, all with different types fee structure. e-Gold, e-Bullion & Goldmoney are the oldest that come to mind.

By: Micah

Micah — Thu, 14 Feb 2008 19:45:20 +0000

Amazon FPS has some micro-payment support. It isn’t great, but it allows you to bundle a lot of micro payments into a single larger transaction, thereby cutting down (but no eliminating) the transaction fees.

By: Leonard Sellem

Leonard Sellem — Mon, 11 Feb 2008 11:08:51 +0000

What is the legal status of Noca? Is it a bank? A financial intermediary? Or is it simply a services company? If so, how can it act directly on bank accounts without any bank processing?

By: Adam Hyman

Adam Hyman — Mon, 11 Feb 2008 06:45:33 +0000

Does anyone know of a company that is similar to Noca?

What other companies are doing the same thing as Noca?

By: Mar

Mar — Thu, 07 Feb 2008 05:12:29 +0000

Actually, Amazon FPS charges only 5 cents plus 5% for transactions less than $10 that use a credit card, not 30 cents as you posted Mark.

I just finished a post of micropayment providers and how Amazon, right now, is the best choice for $1 transactions.

http://www.trumptheniche.com/2.....developer/

By: Danno

Danno — Mon, 04 Feb 2008 16:20:17 +0000

Banks and credit card companies are gouging here - no question. Could it really cost 3-5% of a payment to process it? (almost as ridiculous as real estate agent fees So there is an obvious market, especially for smaller payments where fixed fees drive the percentage up further. Can this be done securely? Yes, the world has the technology. We already use it to pay bills online. To me the “returning goods” thing is a lark. My credit card company would not lift a finger to return fees to me. As a matter of fact, my card was used fraudulently online and it took me 4 months and two sworn affadavits to get credited for fraudulent purchases on a canadian credit card with delivery going to Hong Kong. Bring it on, and worst outcome is the monopoly players will reduce their fees to represent reasonable margins. And how much does a GD transaction cost?

By: JackD

JackD — Fri, 01 Feb 2008 01:52:19 +0000

Doesn’t Paypal do this exact same thing and still charge merchants for it? I thought they had millions of users with bank info and Paypal just takes the spread on the 2-3% they charge.

By: CanCar

CanCar — Thu, 31 Jan 2008 17:24:45 +0000

The purchases and payments online are more and more common, therefore the security must be greater. Personally I had a bad experience with paypal, with this I do not mean that the system is bad.

By: David Mackey

David Mackey — Mon, 28 Jan 2008 03:23:18 +0000

Right now the product isn’t revolutionary. We can already pay for most items with a check - or a debit card - without transaction fees. If they add lines of credit with no transaction fees, thats when they will become something.

By: Marcos

Marcos — Sat, 26 Jan 2008 13:53:07 +0000

It’s a great idea. So good.

By: John

John — Fri, 25 Jan 2008 23:48:19 +0000

I will bet that companies will simply continue to charge the 2 to 3% anyway. They are not going to display two prices because they will also want to have the other payment options. Nothing will probably be gained here.

By: Alleagra

Alleagra — Fri, 25 Jan 2008 18:51:59 +0000

Can Bokon Too Koonet explain how giving out a routing number ( = sort code in the UK?) and account number can ‘drain’ an account? Anyone who writes a cheque does this.

By: gary

gary — Fri, 25 Jan 2008 14:32:06 +0000

Great to see someone has figured out a way to use the ACH system at such a low cost per transaction. The problem for regular merchants however is the time lag ACH requires for processing the cash transfer. For everyday retail stores, vending machines, taxis, etc. this system will not work because there is no guarantee to the merchant for payment. Once NOCA figures out a way to provide some kind of middleman guarantor to merchants, they will really have something that can change the world of credit/debit cards. I hope they do.

By: you're all wrong

you're all wrong — Fri, 25 Jan 2008 08:06:32 +0000

noca as in no card

By: Noca

Noca — Fri, 25 Jan 2008 05:22:51 +0000

Seems more like no ca as in northern california ?

By: It's Easy To See

It's Easy To See — Thu, 24 Jan 2008 23:26:47 +0000

Noca backwards is “A con”

Hmmmm.

By: WC

WC — Thu, 24 Jan 2008 16:31:56 +0000

@47

Mine is not on there! Hehe. I did find it on another online list, though.

By: Geoff

Geoff — Thu, 24 Jan 2008 16:09:03 +0000

I Have all your routing numbers!

http://www.gregthatcher.com/Fi.....amp;arg=FL

Now, you do to.

By: Grammarian

Grammarian — Thu, 24 Jan 2008 15:07:56 +0000

“eliminate transaction feeds” Transaction fees?

By: Jens

Jens — Thu, 24 Jan 2008 14:58:20 +0000

A secure easy way would be something like this. Selling company provides account# and an identity number where as to identify the payment.
The buyer connects to his/hers internet bank and pays the accurate account with the sum and identity number. Exactly as paying an invoice or rental payment. This way the customer only need to find a bank with easy to use online banking and low transferring costs. Normal payments through banks are “free of charge” only the interest rate that the bank can gain trough the transfer process.

I am aware of that the banks love their small fees. This is something for EU and US to work out. Just as they have with rooming costs for mobile phones.

Also an on-line bank financed by advertising could solve this. By letting people open temporary accounts. Like on-line checks. Me as a buyer can then transfer $1000 to an account where I pre-register the account numbers and or payment numbers that should be valid transactions.

There you go!

By: Preston

Preston — Thu, 24 Jan 2008 14:57:23 +0000

I sell robotic lawn mowers and we take Paypal, in fact we sell so much they gave us a “personal” account manager. Noca is not something we could probably use until they got very strong, since almost everything we sell is in the 2k+ range.
However, we have had several of these “significantly not as described” issues come up through Paypal and have lost 3 out of 4 of them. #43 Biz Dev is right, Credit Cards usually favor the buyer over the seller. Even though there is nothing wrong with the units they purchased we still have to take them back, even though the unit does not get shipped until 21 days after the chargeback (they only have 10 days to ship it out after the agreement) we still have to take it back. Even though in the agreement it says the unit must be in sellable condition, and it comes back to us with parts missing and dirty, we get no compensation. So far as sellers rights, there are none, it’s all a big joke. But the few problems that we endure is worth the successful transactions we get.
I will be interested in this once they grow a bit stronger and have some real success.

By: Biz Dev Person

Biz Dev Person — Thu, 24 Jan 2008 13:55:01 +0000

@#42 PEU

If I understand your comment/question - you’re questioning how the buyer/seller dispute is resolved ?
The credit cards have a dispute resolution process involving chargebacks. Generally its in favor of buyer - but sometimes in favor of seller (e.g. if you dispute a charge posted by an airline the seller i.e. airline almost always wins - try it sometime
Noca currently does not arbitrate between Seller/Buyer (since they are only microtransactions) but may have a similar/dis-similar process in place in future depending on user feedback.

Disclaimer: I work for Noca