When Coach C.J. Liu bills her clients, all it takes is a few mouse clicks, and for the most part their payments end up in her bank account a few days later.
She does not need to send out invoices or to track accounts receivables. She never has to wait for checks to arrive in the mail, and she does not have to visit the bank. Like many others who run small businesses, Liu, who offers business and personal coaching in Seattle, is a PayPal customer.
Liu can send email invoices to her clients by clicking on the PayPal website. The clients--who at Liu's request, have also set up PayPal accounts by registering bank account or credit card information---click on a button embedded in the message to charge the sum to their credit cards, and the money is transferred to Liu's bank account. Along the way, Liu receives confirmation when the bill has been paid and can review the status of her accounts receivable online.
From its inception seven years ago, PayPal, based in San Jose, CA, has grown to service more than 86.6 million accounts in 55 countries, and it expects to process $25 billion in money transfers this year. About 70 percent of the payment volume comes through PayPal's parent company, eBay, and is used to buy and sell items on the Internet. But more and more small businesses and sole proprietors outside of eBay are using PayPal as their back offices.
Source: Julie Bick, The New York Times
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Coach John Agno believes, due to PayPal's success a new fledgling system, GreenZap has evolved and is attempting to compete against the big kid on the block, PayPal, by offering better value to its members.
WebCash can be used as a way to pay for your GreenZap transaction fees, as well as a unique way to pay for part, or all of, products being sold at GreenZap Stores where hundreds of online merchants are offering thousands of brand name products and services.
You may also use WebCash on eBay® or Yahoo Auctions®, and send or receive WebCash between you and your community. The only difference between cash and WebCash is that WebCash can only be used, as the name says, on the Web. Browse GreenZap Auctionz on eBay.Every company, organization, and individual needs to move money more efficiently. GreenZap’s sister company, www.Mazumah.com, does something very unique for sales organizations, network marketing companies, and anyone who pays commissions to independent contractors. Mazumah helps companies to act as a bank, via a private-labeled (with their brand and logo) online banking site, and provide all of their members with a GreenZap account. All of these new GreenZap members end up in the community of the member who refers that company to Mazumah.
For more information on GreenZap, go to: http://coachthee.greenzappers.com
You can also listen to a recent interview by Barry Goss with Alex Sonkin, president of GreenZap, on the subject of PayPal versus Greenzap at: http://manifestlife.com/audios/alex-sonkin.html