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Noca

The Guru likes this payment system and thinks it is one to watch out for over the next 5 years.  Currently Noca is only available in the United States although the company does plan to expand internationally.  Noca are testing on micro payments on Facebook through two applications they have launched – OneClickPay and HelpYourWorld.

Noca is a way to accept check payments online and was started by a few ex Visa employees who wanted to find a cheaper method of payment.  Check payments cost less for a merchant than credit card payments with fees starting at only 0.75% with no fixed costs.   If you want to use Noca as a consumer then you will need to sign up on their website and also have a checking account with a bank.

Noca claims their system is safer than using a credit card and also a cheaper option for the merchant than others in the market.

At the moment Noca is not something you would use to really broaden your customer base but as the system advances merchants may look to take it up as an alternative to PayPal or creditcard due to the lower costs.

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