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The e-gold payment system is a secured internet payment solution. It is 100% backed by gold bullions and is widely accepted on the internet as a means of payment. egold is one of the only means of payment available to people with no access to credit/debit cards.

Merchants that allow the use of e-gold as a means of payment for products and services in their website enable millions of internet users without credit/debit cards to shop online.

In this page, we highlight some of the advantages of e-gold electronic payment system to merchants:

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easy to start receiving payments

You can start receiving payments online as soon as you open an e-gold account. e-gold system provides merchants or any account holder for that matter with a simple web link to paste on their websites. This link when clicked by a visitor to your site will provide a page for them to make a secured payment to your e-gold account.

The web link provides you with an easy solution to receiving payments online, however when you need a more powerful ecommerce application or you have a wide range of products and services and have a shopping cart integrated, then this simple link will not be enough.

Grow your online visibility

In such situation a situation, you need to build a shopping cart interface (SCI). e-gold shopping cart interface is based on html forms and enables a merchant to integrate their shopping cart system to the e-gold payment system.

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immediate payment 24/7

Once a payment is made by a customer your account is updated. You do not have to wait till the end of the week or months. Once a payment is made to your account from any part of the world your account will be updated instantly.

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Payments are Final (No Charge backs)

e-gold system does not support charge backs. This is an advantage for merchants. This simply means that once a customer pays for a product he/she can not deny execution and you can safely account for the payment. In some payment systems a customer can deny execution and the merchant may be required to refund the payment some how, this might be inconveniencing.

e-gold payment system eliminate charge backs, once a payment notification is received you will not be made to refund it.

Secure and Robust payment solution

e-gold payment system is bi-directional this means that before payments are validated their will be interaction between your website and the e-gold system. This ensures that there is enough value in your customer’s account to meet the payment at hand.

e-gold system also provides information to ensure that merchants are able to validate that the payment is indeed from egold.

A large number of potential customers (global payment)

e-gold is perhaps the only electronic payment solution available to people without credit cards or people that live in countries where credit/debit cards are inexistent or very hard to come by. The number of such people runs into billions. In Nigeria alone there are millions of people without a bank account and even more without any credit or debit card.

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e-gold is probably the only option open to these Nigerians to pay for products and services on the internet. The ease at which e-gold can be acquired and the low transaction cost make the system very popular for consumers.

This electronic payment system is available to anyone with an internet access anywhere. There are currently users in over 165 countries according to the company. Accepting e-gold as a means of payment, for your products/services will give you access to all these people.

e-gold accounts can be accessed via mobile phone. Even in Nigeria, e-gold accounts can be accessed via mobile phone.

reduce the impact of currency fluctuation

e-gold is 100% backed by gold bullions. This means that buying or receiving egold for payment is just like storing up gold. This means you can use it as a hedge on currency. This also implies that egold is an investment.

If you are looking for a payment system that reduces the risk of currency exchange then try egold.

easily convertible to other payment systems

There are lots of independent exchange companies some of which may be available in your country. In Nigeria there are a number of independent exchange services that exchange e-gold for cash (Naira) one such exchange is at

In other countries their may be similar services that exchange e-gold for cash. Other channels that independent exchange services use for exchanging egold include direct account deposit, bank wire, PayPal, Western Union, money order and lots more. No other system supports so many options.

Open as many accounts as you want

There is no limit to the number of accounts you can open. As long as you abide by the terms and conditions of the e-gold system you can open multiple accounts. This means that as a merchant you can open different accounts for your different campaigns.

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Paschal Okafor is NaijaTechGuide Team Lead. The article BENEFITS OF e-gold TO MERCHANTS was written by Paschal Okafor. The article was last modified: June 10th, 2016

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