Entropy itself is a “virtual” prepaid credit card. In layman’s terms, it is essentially a card that exists purely in a digital form. When a user creates an account and assigns funds for the first time they create a “card” that will be displayed on the user’s screen. The card looks and acts like any normal card, with a sixteen digit card number, expiration date and Visa style security code. Note that it is a Visa card that won’t be made in print, secured on their servers. Each card is validated by Visa, though without the need of a standard credit check. Due to its prepaid nature, the user can only spend just the amount that they have on the digital card’s account.
The methods of adding monetary funds to the account is by a direct charge to a credit card, debit card or directly through a checking account. As stated earlier, the funds set into the account is all a user can spend through that card before the need of adding more funds, so there is no worry about overdraft or any fees associated with the negative balance possibility of other cards and accounts.
The card is usable just as any Visa card for online purchases, including almost everything from Amazon to gambling sites, eBay and other online retailers and services. The company boasts a high satisfaction rating, and is very useful for those finding means to reduce the chances of identity theft and financial theft across the net.
Other features that Entropay has is a fast and easy way to convert currency from one country to another. The entire list is extensive but this makes the most common currency exchanges for online shopping, like Euro to USD or vise-versa, instantaneous without the usual red tape you would find in other payment methods. There is a fee associated with this, but it is one of only a few. Each transaction is guaranteed secured and transferring funds near instant, without hold times and posting delays.
Fees are a small part of the Entropay setup, but creating an account and a virtual card are both free, as well as having the virtual card “destroyed” from their server and account. The biggest fee is possibly from loading the account from a personal debit or credit card, at a standard 4.9 percent rate. All other fees are minor and would be seen through almost all other payment and account services found throughout the US and other major nations. Spending off the account balance is free, which is a major plus.
All around, the service itself is promising for any user in need of a safe and secure way to spend and shop online. With highly maintained security featured throughout their system, a user can rest assured that their information, and their finances, are safe.
Consumer side is cool, but what if I run a business and have similar needs? No problem. Entropay also has a business side that helps businesses big and small with their fund claim and or account needs. They offer many services for corporate and business needs that are easy to use and just as especially secured.
They offer multiple virtual card creation, funding and destruction services for corporate accounts. Also offered is easy and instant payments that are backed by MasterCard rather than Visa. MasterCard is more business friendly, and eliminates a lot of the bank fees and other controllable expenditure associated with corporate banking.
Their business side offers ease of use, placing people first with a user friendly interface and simple design. Their business solutions allow for complete control over business needs to make reaching deadlines easier.
Entropay was founded in 2003 by the parent company, Ixaris Systems, Ltd. Based in London, England, the parent company is a Financial based transaction company that specializes in the movement of electronic funds. The founders recognized that there was a major need for a payment method that would allow anyone to pay without worrying over credit worthiness or location. Their goal from the start was to lower the hassle of sending and receiving payments electronically.
Entropay is now accepted almost everywhere online, due to its visa established cards and highly secured transaction protocols. Entropay is even certified by the UK Financial Services Authority (FSA) to issue electronic funds.
Entropay is the name the company uses as its front end for consumers and clients alike, though the transaction server handling and maintenance is through the parent company. Ixaris Systems is running in over ninety countries world wide, with a user base of well over one and a half million users. A company with that strong of a user base is sure to be well loved. Ninety percent of the workforce at Ixaris is dedicated purely to innovating the electronic payments industry, with a goal to unify the world under its ease of use and globally accepted financial services.
The Final Answer
Entropay and its parent company, Ixaris Systems, Ltd, is a virtual prepaid credit card for personal and business use. They have designed their systems to safely, securely transfer funds electronically for several services around the world, including travel agencies and large scale online shopping. These uses are made to encourage use by users who have not or could not make payments through other services, like banks, to online purposes. This is addressed with Entropay and their services.
Their services also extend greatly into the business needs market by giving business tools and services that might not have otherwise been available to them in the past. These business solutions include virtual prepaid MasterCards for use in online spending as would the general consumer, as well as payment and other transaction needs that the business needs. Their user friendliness greatly helps in reducing time and hassle spent in payment and transaction clearance and ensuring all electronic fund needs are met.
In short, Entropay is a strong company with high security standards for the regular consumer and business financial needs.