Noca, a Palo Alto, Calif. startup founded by former Visa employees, recently launched an online payment system that should allow merchants pay lower fees, according to VentureWire. Most credit card companies, as well as payment systems like PayPal and Google Checkout, charge merchants 2 percent and 3 percent to process online payments. Noca’s online checking system, on the other hand, only costs 0.25 percent, the company says.
Noca recieved less than $1 million in angel funding from former PayPal employees and other unspecified angel backers last year.
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