Adnerds

First of all: I am not a believer. Not for the moment. It’s a new technology that has to prove itself and I guess the main temper on my enthusiasm (because I really think there is a market for this) is the fact that it is too expensive to use for now. Besides the fact that the user-base is pretty small of course.

The two systems explained:

• Tunz = you open an online account which you have to add funds to your account (the Proton or Paypall system)
• Pay2Me = the Banksys alternative offers a payment method linked to your banking account. Adding funds is not necessary, it uses your current account’s funds.

My thoughts:

• First bummer: I hardly ever have enough money on my Proton because it is hard to add funds. Besides that: I don’t like adding a lot of funds that I might not use. That’s why I hardly every add funds to it. I’m guessing I won’t be using Tunz for the same reason. Using Pay2Me is easier because of the direct link with your banking account. If you don’t use it, the money is still where it is supposed to be: on your current account.
• It is not cheap to pay or to receive payments from other users (0,40€ @ Tunz – 0,25€ @ Pay2Me / receiving is costless at Tunz and 60 cents at Pay2Me). I think it is only a matter of time before they drop the costs. The use of a credit and debit card had also started with a payment model – however less expensive – and nowadays it’s a costless payment solution.
• The setup process for the Pay2Me-solution is hard, but afterwards the use is pretty straight forward. Setting up and account and adding funds at Tunz is pretty easy (however waiting 2 or 3 days before my funds are added to my account seems pretty long).
• Tunz can be used (free of charge) for an online payment - thé alternative for online shopping without a credit card. One problem for the moment: too little sites offer the Tunz method. For me: I have my credit card that I find easy to use…
• Tunz allows you to add funds up to a mere 150 euros (too limited?) which isn’t much if you are buying some more expensive stuff (an ipod for instance). Pay2Mey offers a limit of 2500 euros (and a minimum spent of 6 euros – can’t use it when buying a bread in other words)
• The Tunz ‘product’ offers a solution for receiving payments in between individuals (receiving money is free) whereas the Pay2Me way of working demands a 60 cent fee for receiving money, which is imho only interesting if you are a company (face it, that’s about 25BEF – nostalgic me;-) ).
• Another Pay2Me advantage: you can (at no cost) charge your prepaid card.
• Thé Pay2Me head start: from now on every sim-card is a standard m-banxafe enabled card. Swapping your old one is also free of charge. In other words: using it is as easy as using your cell phone’s menu and one stop at the ATM, whereas I really dislike the fact having to charge funds every time especially if the limit is only 150 euros.

I think I will rather be using the Pay2Me method for now since it’s cheaper (in my opinion this should be at no cost) and since I do not have to add funds once in a while.

So far my two cents…