An online payment method allows people to pay electronically for the services or products that they buy from your store. Although every business wants to offer flexible payment options for its customers, there are several factors that have to be considered when integrating a payment system with your website. For a start, you have to factor into the issue of security of personal details. And that’s not all. You have to select a method that’s widely accepted in different countries. Since payment methods generate income for the companies that develop them, you must look for one that charges a fair transaction fee. That’s why there are so many online solutions but only a handful of them are popular. Here is a collection of the most reliable online payment solutions.
1. Paypal
Paypal is definitely the pioneer of online payment methods. The solution was initially meant for facilitating payments on eBay. It’s only after a decade or so that it became independent. As of now, Paypal is the undisputed giant in cyberspace transactions. In fact, it’s widely recognized across different countries. The platform helps in protecting the credentials of its users by enabling them to link it directly with their credit cards and bank accounts. The other advantage is that the platform charges a very minimal fee of up to 1.91 per cent on all withdrawals. Moreover, the platform allows you to send money to a recipient for free. It’s actually the recipient that’s charged when making a withdrawal from his account.
2. Skrill
Skrill is based in the UK but accepts transactions from almost every country. The good thing about Skrill is that it’s compatible with foreign payment systems. The platform allows people to upload money using credit cards or from banks. Sending or receiving money via Skrill is like a walk in the park. You only need to specify the email address of the recipient and you are good to go. The money can also be withdrawn instantly. The platform also allows you to specify the currency that you want to use. You can secure your account by configuring a two-step authentification process that sends an alert to your mobile number whenever the account is being accessed.
3. Payoneer
Payoneer has been around for decades. It’s actually preferred by most freelancers because it processes transactions in more than 150 currencies. Users are not charged even a single cent for the payments that are credited into their accounts. The platform also offers a credit card that’s supported by the majority of ATMs that are used in various parts of the world. After registering your account on their website, you can request for a credit card and get it after a month if you live outside the US or Europe.
4. Amazon Payments
Amazon payments is affiliated with the giant retail store, Amazon. Due to the reputation of the retailer, the platform is trusted by many people. Although you will have to integrate the system with your website, all transactions are handled by Amazon checkout system. Once a customer has paid, the money becomes available for withdrawal instantly.
5. Payza
Payza allows internet users to set up an account for free and doesn’t charge a monthly fee. Once the account is up and running, you can start sending and receiving money right away. All the data of account holders is protected through encryption. Besides that, users can make payments without giving out the details of their credit cards. Moreover, money can be debited or credited directly into a bank account.