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Internet video games are a craze that has swept across people of different ages. Normally, one would think of such games as being played by children and individuals in their early teens. But there are now a variety of video games out there that cater to people of different age levels. In fact, a large number of professionals around the world are video gamers after their work. It is no surprise, therefore, that video games are highly searched on search engines in the internet. Video games are, of course, best found on the internet. Countless video games are being auctioned on eBay. Numerous games are also being sold at fixed price on online stores such as Amazon.com. Video games are just the tip of the iceberg when it comes to products being sold and promoted on the internet. An abundance of goods can be found on sale online. Even services such as guitar lessons, translation, or PC-fix are being advertised and offered on the internet. This goes to show that money moves rapidly in the electronic world. Although fund transfers using banks are still being used nowadays, these are considered quite outdated in the digital world. This is because people have less time to wait (or maybe less patience to wait) for the products or services to be delivered to them. Therefore, the traditional process of bank fund transfer wherein the fund is only recognized once it has arrived is not anymore practicable in the digital age. A number of payment gateways exist on the internet, but perhaps one that is gaining much popularity is electronic wallets (e-wallets). Much like real world wallets, e-wallets are able to hold digital cash. The money in the wallet can be deducted (if used to purchase a product), may be added with more digital money (when you are a merchant, for example, and somebody has purchased your product) or may be redeemed (that is, converted into real world money). E-wallets are very practical and convenient online payment tools. Perhaps the downside is that most wallet servers operate individually. As a result, fund transfers can only be done between wallets under a single provider. Interactions between wallet servers are not practiced. This would limits eCommerce as major wallet providers tend to monopolize the market. Smaller players, since they are not able to transfer funds with major players tend to be overshadowed by the latter. iCoins to provides a solution by acting as a link between e-wallet servers. Instead of competing with providers, it forms a partnership with them. It therefore creates a means for the providers to interact with each other. While traditionally, transfers can only be done between wallets within the same system; with iCoins it has become possible for transfers to be done between disparate wallet systems. As a result, the market has been opened to a larger number of players, thereby introducing greater competition and consequently, increasing efficiency and encouraging innovations. iCoins ensures that any enabled wallet is able to receive and send digital cash. The transfer of funds using iCoins is absolutely free of charge. This feature is perfect for people (e.g. merchants) who receive money in their e-wallet but also have to pay for products or services over the internet (the suppliers, for example). The money can just change hands again, without any cost to either party. As long as the money stays in digital format it can move as much as is desired with no fees. If at some stage it is desired to redeem (convert to old style money) the money, there is a minimal fee. iCoins can be redeemed at selected Treasuries through integrated payment providers and e-Wallets. These Treasuries are carefully chosen by iCoins and are guaranteed to be financially stable and properly licensed, ensuring the stability of iCoins. Transfer using iCoins is guaranteed to be safe and secure. iCoins implements anti-money laundering controls that are superior to those existing in cash transfer mechanisms. Aside from being able to make purchases on the internet, iCoins also provides the luxury of being able to pay for your bills even when you are on vacation (provided you have internet access). As more companies accept online payments, online payment providers have become a part of daily life. While you enjoy being relatively paper-free and your bill history being more organized and can be easily viewed online, the companies that you are paying are likewise enjoying the savings they get if they do not have to send your bill through the mail. Again, it doesn’t matter if the company is supported by a different wallet server. iCoins has patterned its services after bank fund transfers wherein any bank can make a transfer to another bank. iCoins has extensive uses. It can be used in almost any online transaction which involves the transfer of money. It can be used to buy that ring tone you’ve always dreamed for your phone. It can be used to pay for the ads you wish to place on websites. And if you’re a merchant, it can be used to collect money from customers even if their wallets are supported by servers different from yours. Perhaps one of the best parts of using iCoins is that you’re freed from the need to have multiple wallets in different providers. You can only have one and enjoy as many online transactions as you like.
Article Source: http://www.articlebase.info
Sara Waller- Marketing Manager, iCoins Ltd E: sara@icoins.com www.icoins.com Tel+ 350 48595
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