Lancore Merchant Services

Lancore Merchant Services

March 19, 2010 08:00 ET

Lancore Cool on Online Payment Changes

EDINBURGH, UNITED KINGDOM--(Marketwire - March 19, 2010) - Recently customers of PayPal received an ominous email about changes to how their payments will be handled in the future. As of the 21st of January 2010, PayPal would no longer be accepting Maestro for certain types of UK website payments including reference transactions, recurring payments and recurring billing. This had a major effect due to the numbers who used both Maestro and the PayPal service.

In addition to this, Google will also soon be dropping Maestro payments for their Google Checkout service adding further reason for online buyers to turn their backs on the Maestro method of payment. What this all seems to suggest is that the use of Maestro as a payment method is rapidly going out of the window. One element that also seems to suggest this is that the banks are no longer putting their backing behind the payment service as a variety are already supplying their clients with replacement cards. RBOS has recently replaced many members Maestro with Visa alternatives.

What this all seems to suggest is that Maestro is very much on its way out on and off the internet. But what does this mean for payment service providers and how we pay for things online. A spokesperson for Lancore the online payment service provider Yvonne Lankry was very upbeat on the whole situation. "While this does affect how many people will make their online payments there are clearly a variety of successful alternatives available. The end result will simply be that more shoppers will now be using services such as Visa instead." When asked how this was likely to affect online payment service providers she stated; "It won't have any real lasting effect. It has simply brought about a transitional phase whereby many money transfer services are moving away from Maestro. Lancore's services will remain as secure and reliable as they always have been."

Lancore are a market leader in providing secure payment gateways for a variety of internet based clients. They provide secure measures that ensure all of their clients monetary exchanges are handled quickly and securely. As a result their ecommerce clients can run the day to day aspects of their business safe in the knowledge that their customers transfers are handled securely and that the money will be deposited in their account quickly and efficiently.

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