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Thursday, July 26, 2012

Payment Processor Problems Continue

As of  today July 26,2012 the Majority of Payment Processor's are continuing to have troubles. Take a look at the List:
1) SolidTrustPay: Continues to have problems with the API interface and is unable to do automatic payments for clients. And most people that I have talked to is having so much trouble withdrawing money their respective programs.

2)Payza formerly ( AlertPay ): Still not taking credit cards from US Banks. And in the latest News they will not be accepting or processing any payments from HYIP type programs.

3) Liberty Reserve: US citizens still continue to have troubles converting money through the transfer companies since the US Government Black List almost all of them.

4) Paypal: Does and will not deal with type of HYIP or business that deals in the online advertising market ( those sites that offer payments for listing with them. Commonly known as MLM Schemes. )

Now what do we all do now. It is apparent that we have to come up with some form of Reform for the Global Market. I myself have talked to many people involved in the Poker Industry. And have suggested Legislation that would make the US the first to start a Bank that use's the Certification Program. What I proposed was a Banking system that accepted credit cards and the Player would have to go down to a place like the Department of Motor Vehicles and get a Certified Photo ID that would entitle that individual to play poker. Then once they had their Photo ID they would have to apply to the Banking system for an account to deposit money into.

The Banking system would of course be run by the Internal Revenue Service. What this does is create more needed jobs. And allows the US Citizens to get all the proper Tax Identification and the taxes held directly out of the Individuals account when they wanted to withdraw the money. In that instance the player is completely legal and pays the taxes that are required of US Citizens.

Now in my opinion the Global Internet Market is way more complicated. I do have one point to make about Payment Processors there is for some reason a Hacker Security Risk involved. From my point of view the Payment Processors lack the Security Measures that almost all US Banks incorporate into their system. I have had my accounts hacked and have had to go in and change my passwords. But as a rule of thumb any account You have that has any amount of money in it, you should always change your password atleast once a week. And when you do change and verify that change write it down in a notebook and destroy the email that contains the confidential information in it. As you know a hacker can access your email account and retrieve all your accounts that you have online. But the is one big Danger of any hacker getting their hands on your information. They can change your passwords to all accounts and lock you out completely.

One of the best growing Security measures that is being implemented now is the Phone text message confirmation. Meaning if they try to change your email the text is sent to your phone to confirm the change with a pin code. If you do not use this service I recommend you do. Before they can change any information on any account that has this you will know cause it has to text you first. Even in the case of changing the number to do this cant be changed unless you verify it first.

Now back to how to solve the Global problems of Payment Processors. It is my believe that as a world we can do the same as the above mentioned. See in order for anyone to do anything with money the banking systems have to regulate it. Meaning the Stock Exchange and Global Stock Exchanges all rely on the banking system to keep the money moving. And please don't tell me that it can't be done. Even banks in Africa,Milaysa,Japan,Caribbians, and all around the world have them otherwise there would be no money. But as far as all the world needing it who knows.

My opinion is that if the Internet is the way that the Global market is going to do Business then we need to consider so sort of United Photo ID program and offices around the world that can handle the Processing of credit cards. Now with that said I also understand that the Biggest problem anyone accepting credit cards is the fraud that is involved. I can say this though with the Photo ID also comes the credit card. It is a all in one card that allows you to do business anywhere in the world and is recorded and handle to pay any taxes if any are owed by that Individual. Now for those that disagree with me can you imagine having to carry to forms of ID. It is not really that bad and could work, meaning that one without the other could not be used. And that gives you the two forms of ID.

In closing I want you to know that this only my personal opinion and beliefs. And that anything that I have wrote is not an endorsement of any kind. It is only intended as to point out somethings that could be changed.

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