Readers, you’re going to love this. A new service has just started that will allow anyone without a credit card to pay cash for online services. The new service is called PaidByCash and I imagine that almost everyone is going to find this to be one of the most useful new online services to come out in the last decade.

PaidbyCash works very much like a credit card, but it’s not a credit card. It’s a prepaid virtual Mastercard. The value of the card is limited to the amount of money that you load into the account, and it’s accepted by virtually every online merchant.

It’s easy to activate your account with PaidbyCash. Just register on the site with your name, address, telephone number and email. No financial information is exchanged since this is not a credit card.

You can load your account with up to $350 at a time and you can make multiple purchases with that single load.

This new card will open the door to many consumers who do not have, or possibly do not qualify for credit cards. Now they will be able to use just about any online service to which they had previously been excluded.

Services such as online games should expect an increase in business now that PaidbyCash has arrived, as I’m sure many gamers that were limited in their choice of sites to play on due to not having a credit card will now be playing on all of the sites that had required a credit card payment prior to Paidbycash arrival on the scene.

Unfortunately this program is only available to those with a valid U.S. address, but do keep an eye on this service if you live outside the US. Perhaps as it’s popularity increases it will expand it’s services to more areas.