What is Compuceeds and how can it help businesses better than any Payment Processor?

The Compuceeds on the Cryptoceeds eWallet

We’ve heard about Bitcoins and all the rest of Bitcoin wannabes. Have you heard about the virtual currency Compuceeds?

Both online and offline Businesses everywhere are being enticed with a new type of virtual currency called Compuceeds. This new virtual currency was invented in 2007 and is created and produced at the Compumatrix Social Network where it got its acronym Compuceeds (Compumatrix Proceeds). Unlike other virtual currencies, Henry James Banayat, Compuceeds’s creator, developed it in such a way that transactions are centralized and not let users use anonymous names. There are also no banks involved in Compuceeds transactions, which means zero transaction fees. Can this be good news for businesses?

What is Compuceeds?

Compuceeds is a digital currency, primarily used to make online purchases and it is also being used by offline businesses. Consumers using Compuceeds store it on their Cryptoceeds eWallet. It can be accepted as a form of payment to purchase anything from digital services to tangible goods. Compuceeds provides merchants with a way of receiving instant payments by way of peer-to-peer technology using the Cyclos platform developed by the Social Trade Organization (STRO). Social Trade Organization (STRO) provides communities innovative solutions that increase the purchasing power through new forms of money. Compuceeds are managed by Compumatrix and use the Cyclos platform on a global scale.

In other words, there are no government agencies and central banks involved. This alone sets Compuceeds apart from digital payment processing gurus like Paypal and digital wallet companies such as Google Wallet. This new virtual payment technology allows merchants to accept digital payments, much like credit card payments, without the added associated processing fees.

Why Compuceeds for Businesses?

Because consumers can buy merchandise using Compuceeds, the premise is that this may help to increase their sales both online and offline.

Technically, Compuceeds transactions are recorded centrally and does not disclose a public log thus keeping transactions truly private.

Compuceeds vs Payment Processors for Business Payment Processing

When consumers buy goods and services using Compuceeds, they’re paying with virtual cash. This is much like the idea behind Payment Processors, where the money is placed in the merchant’s account instantly. However, there are some major differences between Compuceeds and Payment Processor:

Frozen Accounts — Thousands of online merchants have had to deal with the issue of Payment Processors freezing their accounts for various reasons. When this happens, the online payment processor rarely returns the money left in those frozen accounts. Because of the global concensus of no chargeback and no freezing policy, Compuceeds has no reason to freeze accounts based on shared IP addresses, identification verifications, etc…

Fees — Payment Processor fees can run anywhere from 3% to 9%, depending on the transaction. There are also some serious conversion fees involved with international transactions. Compuceeds currently charges no fees whatsoever for their services. Businesses can save substantial amounts in virtual payment processing fees alone using Compuceeds.

Pegged to a Dollar — The value of each Compuceed is not traded like cryptocurrencies as consumers using this virtual currency abide by a global consensus that the value may not be sold nor traded among peers at an amount lower than $1.00.

Global Access — There are currently numerous countries that do not allow their consumers to utilize the services of a Payment Processor, in any way, shape of form. Compuceeds can be used by any consumer anywhere in the world. This makes it very easy, and financially feasible, for businesses to sale goods and services internationally.

Irreversible Charges vs Chargebacks

So, should businesses fear buyers using Compuceeds?

Compuceeds transactions are not only secure, but they are 100% irreversible. This ensures that merchants are protected from losses resulting from fraudulent chargebacks and other fraud-related activities. Policies such as this allow businesses to expand into markets where fraud rates are exceptionally high or credit card payments aren’t available.

Payment Processors like Paypal is infamous for its “buyer protection” policies. But, these policies are not always in the best interests of their merchants. Many businesses have lost revenue do to fraudulent chargebacks being granted by Payment Processor. Compuceeds gives merchants more peace of mind with their “all transactions are final” policy.

How Do You Feel About Compuceeds Payments?

Have you used Compuceeds to make online purchases? Are you a business owner or manager thinking about accepting Compuceeds payments for your goods or services? We’d love to hear your thoughts on how Compuceeds can help your business to grow in 2014.

Originally published at www.compumatrix.ph on February 15, 2014.

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Compumatrix is a Decentralized Community and Ecosystem thriving on the Bitshares blockchain. We publish our members’ curated articles and updates here.

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