Banking & Investment

Payrolls On-line

A novel internet based payroll can be implemented using an offshore electronic gold system. This is non taxable being based in a non taxing location, remotely manageable over the internet and of high liquidity as far its conversion to the local currency is involved. In addition to all that its physical gold status can qualify as an investment to the benefit of the employee.

An electronic gold account representing the employer’s company is setup (at no cost) and the funds to pay the employees with can be deposited either by using the electronic gold provider or a third party exchanger. Electronic gold accounts for the employees have to be setup with the requirement that they should provide their own email and be capable of using the internet on a basic level. A debit card compatible with the gold account (such as provided by Netpay) is purchased at a small expense and distributed to the employees.

Alernatives to PayPal System

Very few people on the internet have not heard of Paypal, the ecurrency system based on the US Dollar which offers an alternative to the use of a merchant bank account to process payments on the internet. Their basic service is free and their credit card processing ability is an advantage yet this system has some very serious disadvantages.

Paypal is not a truly international service, full functionality is supported in only a few major countries such as the United States, Great Britain, France and others. Limited functionality where the owner of the account can only make payments is supported in a further list of countries and finally a lot of countries are completely left out providing no capability for receiving or sending payments.

Another very serious disadvantage is that Paypal has the tendency of confiscating funds from merchants who violate its agreement. This tactic is strongly enforced especially for merchants related to the adult industry targetting any online business that is found to be related in anyway to adult traffic. Businesses in this class are not restricted to websites that contain adult content but also branches out to web hosting companies and internet traffic resellers. Not only is the Paypal service for such businesses cancelled but the funds in the account are confiscated.