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Currently, credit cards companies are are bearing down to increase services when it comes to transferring money. Many notable credit card companies have started usingpre-paid credit cards to make it easier for consumers to transport money online.

The model is simple; The sender simply goes online and opens an account, then submits the amount and the recipient . The company gives the receiver a pre-paid credit card and secret PIN which may then be used as any accepted credit card, at any ATM, or for any purchase. If the sender needs to wire more money they simply go online, and the money goes right onto the card the recipient already has.

Could it be? Have we seen the day we no longer need cash? Some businesses are already trying to get rid of traditional paychecks, so people have begun having their paychecks wired directly into bank accounts. Many businesses are also taking advantage of online companies to pay employees.

So what does all this mean for your run-of-the-mill money transfer services? Many experts have determined the number of people using credit cards or the internet to wire money will surely increase.

Many location based-services have come to grips with the fact that their value will drop off over the years as more people use credit cards to send money online. In an effort to fight back, many location based companies have teaming up with with big-name banks and it is said that by the end of 2009, most of these companies will be offering their services through those banks. And although most banks already have a transfer system set in place, this move might possibly be the swaying factor that keeps those businesses alive.

The model for companies like these is simple as well. If you decide on using a bank to wire money you will be charged a flat rate whether you choose to send $100 or $1000. However, location-based companies charge depending on the amount sent.

So why would anyone choose to use a location-based company over a bank? Well location-based services now let the sender to wire the money to a location, whereas a bank only allows you to send money from one bank account to another.

Regardless of how the money transfer world swings in the coming years, two things are clear; it will gradually become easier to use a credit card to transfer money online and the time it takes to get that money sent will only be lessened.