To be honest I’m no great fan of payment processors. To me they seem a somewhat unnecessary hurdle to jump when wanting to invest online.

If banks would spend some time and effort on verifying the accounts of online investing opportunities we could end up with legitimate investments and straightforward ways to transact with them. Unfortunately, there is nothing I see that will make that happen.

So, if we need payment processors then at least they should be upfront, honest and accountable. Perhaps, at last, we may be seeing just such an entrant.

Paybox is currently in development and embraces user feedback as to what their platform should look like and how it should perform. They entice interaction by crediting money to your account and the more you interact the more you can potentially earn.

The Paybox style appears to be informal and approachable so it will be interesting to see what suggestions from the members they take up and how their offering will differ from others.

In recent posts I’ve mentioned that freezing of accounts has created problems for many opportunities and many of these actions seem to be bordering on the illegal. Hopefully Paybox will recognise that both sides of the transaction require fairness in dealings.

If you join now as an Early adopter there is potential to be in a good position when the processor is officially launched in the first quarter of 2011.