Yahoo PayDirect Launches International Online Payment Service
By Ina Steiner
Yahoo! launched Yahoo! PayDirect International, which allows Yahoo! and Yahoo! en espanol users to send money to family and friends in 182 countries throughout the world. With PayDirect International, recipients worldwide do not need a PayDirect account, Internet access or even a local bank account to obtain their funds.
After the sender makes the initial remittance, the recipient receives a Yahoo! PayDirect World Card, which is delivered within five days. The PayDirect World Card is a stored-value card can be used to withdraw local currency at any of the more than 800,000 Cirrus ATMs around the world, just like a traditional ATM card. In lieu of the PayDirect World Card, recipients can also collect funds within minutes at any of the 60,000+ MoneyGram international money transfer locations worldwide.
The maximum amount of money that a user can send at one time is $899 or the available funds in the sender's bank account, whichever is lower.
PayDirect International fees for the PayDirect World Card varies depending on the amount and destination country. Fees starts at $5.95. Recipients of the card must also pay a fee (minimum $1.50). Fees for MoneyGram transactions are different, see Web site for details.
About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to email@example.com.
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