Pumapay www.pumapay.net

The concept of Pumapay's service appears to be very similar to that of PayPal, its closest targeted competitor. Pumapay.net 's system differs from PayPal in that the receiver is sent an P-Card. The P-Card is a VISA Electron/Interac card, which the recipient of funds may then take to a bank machine and make an ATM withdrawal. Because this is a VISA Electron card, it may also be used to purchase goods and service online; the recipient may alternatively elect to send money via his/her own P-card to other Pcard users.

The fees for Pumapay.net services are very similar to PayPal's; 4% ($2.00 minimum) is deducted for each person-to-person transaction, and 2.9% + $0.29/transaction is charged to merchants. Unlike PayPal, there is an additional $1.50 deducted for each ATM withdrawal and no mention of a sliding scale based on volume for merchants.

Delivery options for the P-card vary in price; for many countries in Europe, the P-Card may be shipped free of charge via express delivery. However, countries such as the United States and Canada, an express delivery charge of $9.95 applies.

P-card accepts VISA and MasterCard, but not debit card or banking information.

Pumapay.net caps customer sending and receiving at $500 USD per month; however, these limits may be raised at the request of the iKobo user if said user sends copies of various documents to www.pumapay.net (such as a driver's licence, utility bill, or note from a chartered bank indicating the customer's account is in good standing.) No explanation is given as to the usage of this additional information and why it is required.