Short summary of article about: liberal payment systems – principles and benefits.
Liberal Payment System
Users of electronic payment systems often find that such systems — especially those that have been on the market for a long time — somewhat restrict their users' freedom.Some payment systems require users to provide excessively detailed information about themselves, and their registration procedures are notably complex. Others offer a limited set of features that do not allow a system's client to fully meet their needs related to business or purchasing goods online.
When using such systems, a client often cannot shake the feeling that their creators are constantly trying to catch them out and view anyone who signs in and performs actions related to electronic payments with suspicion.
This tendency did not go unnoticed by the creators of the Perfect Money payment system, and they tried to avoid the shortcomings that are typical of many modern online money transfer systems in this respect.
First of all, the system's creators chose Panama as its place of registration. As a result of their research, the company's lawyers concluded that the country's liberal legislation regarding Internet commerce would allow users to make unlimited payments and transactions with their accounts. As a result of this choice, the owners of Perfect Money assure their clients that their accounts cannot be frozen under any circumstances, except in cases where there is an order from a Panamanian court. However, the company's headquarters are located in Zurich, from where all of its operational activity is conducted.
Another aspect of Perfect Money's liberal approach is the set of tools that allows the user to independently adjust account settings according to their needs. First and foremost, this concerns security settings. From the three offered security levels, the user chooses the one that best matches their level of business activity and comfort when working with accounts. The user can also choose the level of account privacy that suits them at the moment, either completely hiding their personal data and account balance from other system clients, or, on the contrary, making their business as transparent as possible.
No other electronic payment system currently offers such possibilities to its clients.