Friday, August 15, 2008

Is Graphcard Becoming a Let-Down as Africa's dependable Internet Payment Solution?

Graphcard acts as an online payment solution which allows members to convert their Graphcard funds into an online Visa card. This is accomplished by simply purchasing a virtual card using the funds from one’s Graphcard account.

Graphcard then allows the account holder to view card details such as the card number, expiry date and CVV2 code via their secure 128 bit SSL encrypted website. The virtual card does not have personal information such as names and enables Graphcard account holders to shop online as they would with a traditional credit card but with the added benefit of anonymity.

Graphcard members can convert their fund to online Non personalized Visa prepaid debit cards to pay for services online. Graphcard’s claim that it acts as a means of payment for 1/3 (250 million) internet users in over 260 countries who don't have access to traditional credit cards is being marred in recent times by series of criticisms by its subscribers.

Subscriber’s criticisms range from:

  • Referral commissions not being paid

  • Lack of communication whenever major changes are made to their operations e.g. the removal of e-gold from its services

  • Delays in getting credit Cards

  • Login Problems e.g. Firefox users cannot login to Graphcard

  • Funding is a bit of a challenge; especially if you are located in Nigeria. The easiest way is to have someone else with funds in his/her Graphcard account transfer funds to your account

  • Delays in Shipping i.e. late arrival of ordered items, an example was a DVD ordered by one of my referrals for the past 3 months now, this item has not been shipped by Graphcard. I believe if an estimated arrival date is included on their site for goods bulkshiped, it would go a long way to help.

  • The recent removal of e-gold services from their operations is somewhat fool hardy in my own estimation; although e-gold inc. is trying to put its house in order after its indictment (See current News on e-gold Indictment story here). We loyal citizens intending to do businessonline are now left with the option funding our accounts with Wire transfers, Money gram and Western Union, while Cheques are meant for US subscribers only.

The advent of credit cards in Nigeria would have been a welcome development but that is not the case. There are many setbacks associated with credit cards issued by Nigerian Banks.

I do believe Graphcard will take steps to look into all the points mentioned above and make amends if they do not want to lose their loyal subscribers in droves.

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