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  Information 23/Apr/03  
Why we use PayPal

We did quite a bit of research on the subject of online credit card processing. We found that there are many companies who provide merchant accounts and processing gateways, but virtually all have minimum monthly fees. For a small startup operation like electro-music.com, these monthly fees are prohibitive. We found that PayPal offers us the best solution for processing credit card orders and for transferring funds to artists.

PayPal offers us secure credit card processing with no monthly fees.

Since we transfer all credit card processing over to their secure SHTTP server, we don't have to buy a digital certificate for our server.

PayPal is owned by EBAY, the largest online auction business. Their server is very reliable and secure. PayPal's service is excellent.

Buyers of CDs don't have to get a PayPal account.

By using PayPal to process credit card orders, we do not have to keep customers' card numbers in our database. In fact, we don't ever see this information. We think this protects our customers, and ourselves.

The only downside is that the fee PayPal charges for each credit card transaction is relatively high, about 3%.

We pay our artists through PayPal as well. Artists can get a PayPal account for free. There is no monthly maintenance charge. PayPal can be setup to transfer funds directly to the artist's bank account, again at no charge. There are no fees when transferring from one PayPal account to another. It's an instantanious transfer.

There is an online record of fund transfers that is available to both parties. We think this could minimize disputes and misunderstandings.

More information can be found at the PayPal web site: http://www.paypal.com
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