If there is one great thing the unstoppable technological progress has bestowed upon us then that is definitely the variety of online payment methods we can use to conduct our financial dealings.
Today there are more viable payment solutions for online payments than one could name and compiling a single list of the most popular – and more importantly most safe, secure and convenient ones – is not an easy task.
Split across the four separate categories, further below are methods that are being used to a biggest extent by the online community.
Debit & Credit Cards
Still sitting strong as the absolute favourite when it comes to the most popular online payment methods in the United States, cards are the go-to choice for accepting and making payments on the web. Being the pioneers in online payments, credit and debit cards remain the most widely used method.
Whether it’s the American Express, Visa or MasterCard, the plastic piece holds incredible power over the electronic and digital options that grow in abundance around us.
Often referred to as digital wallets, these payment services have been the groundbreaking invention in the online industry – allowing individuals to make electronic transactions and purchases with incredible ease.
E-wallets are basically electronic cards connected to the individual’s bank account. It is a type of pre-paid account in which you can store money for further transactions but also pay for goods and services online and also receive money. Online casino players are particularly keen on e-wallets. A more detailed list of available e-wallet services can be found on CasinosOnline, along with many other popular payment methods widely used in the online gaming industry.
A quick look through the options listed there will provide a clear insight that Pay Pal still holds its dominance over services such as Neteller, Click2Pay, E-Check and others.
In contrast to banknotes and coins, digital currency is intended to make payment and financial transactions instantaneous, allowing borderless transfer of ownership. The basic premise behind digital currency is to make payments faster and more convenient, which technology as a whole is all about in the first place.
Cryptocurrencies are easy, secure and fast. They come in many forms and shapes such as Litecoin, Ethereum and more than 50 other. However, the undisputed popularity champion in this segment is Bitcoin. Available for individuals and businesses alike, Bitcoin deploys peer-to-peer technology which does not involve any form of a central authority such as banks. An open-source service, it is designed to be public and available for everybody.
If E-Wallets were a groundbreaking product that helped steer the online industry one big step away from plastic to contactless forms of payments than Bank IDs are definitely the next big milestone.
Initially introduced in Sweden as a simple service that further facilitates the process of sending and receiving money, Bank ID erases the bank chip out of the equation. This service is now being developed by a number of large banks for a widespread public use which deploys a bank identification number – a four to six digit unique code – that eliminated the trouble of having to register, open account, and validate identity before you actually get to make a purchase online. The first one to embrace the brave new world of bank ID payments is Trustly, a Swedish company specializing in online payments.
Bank IDs are introducing us to a new world and we’re blessed to be given a peak into its possibilities but who can dare guess where the future will take us?