[HIB]Visa Launches PayPal Alternative

Credit card giant Visa has entered the micropayment processing space with payclick, a pre-paid hosted service aimed at teenagers purchasing online line content such as music and games. Like PayPal, payclick is an online money repository that people can pay into with a bank account, credit card (Visa or MasterCard) or BPay and use the funds to purchase products online. No PayPal integration yet. Developed in Australia, payclick is available for use from today and content online businesses including Telstra’s’ BigPond and Apple iTunes are offering the payment option. According to analyst firm Investment Trends, the market for online micropayments where the transaction is less than $20 is about $646 million this year and will rise to more than $1 billion in 2012.

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