Noca.com - The Next PayPal Arrives

Noca is a zero cost payment system for merchants. The service is currently in beta, and for the time being it is available only to businesses with US bank accounts.

The basic premise is to provide merchants with a secure payment system that has virtually no startup and recurring costs, and which can be easily integrated with shopping carts.



On the other hand, consumers can shop online in a way not very dissimilar from the one offered by the well-established web-commerce company PayPal. That is the most obvious comparison, actually.

The one difference between Noca and PayPal is the amount which is charged for the actual cost of the transaction. As you know, PayPal charges an amount which ranges from 2 to 4 percent. Noca charges only 0.25 percent.

Moreover, since operations use only debit transactions where the money goes directly from the account of the buyer to the merchant, the user doesn’t need to worry about identity theft and related considerations. That is, credit cards are kept out of the picture – the whole thing resembles a virtual check more than anything else.

The economy is not what it should be, and consumers are certain to appreciate new services that put something of a stop to the “pay-it-later” attitude that credit cards often instill. Whether it can actually displace PayPal remains moot, but the basis for a compelling platform are in position.