Linclik has a good CPM for all countries. It shows an intermediate page with captcha, plus another one below with a few seconds of waiting. It is not a very popular shortener, but neither is it repudiated by anyone, so we can consider it a reliable shortener, at least as long as it exists.
Working from 2016-08-03. Payments are send via
Paypal from 3$
Payza from 3$
Payeer from 3$
Bitcoin from 3$