These Online Payment Methods Have Been on The Rise Since 2020

Online payment involves the electronic exchange of currency, for any goods or services that have been provided. The internet as well as computerized systems are the enablers for online payments. There are various e-commerce networks that have been set up, to ease the transfer of money during transactions.

For instance, the  industry has extensively incorporated the use of online payments to facilitate players as they make their monetary deposits. This industry, among many others, has availed multiple platforms on their sites through which currency can be channeled. As a result, the use of these payment platforms has been enhanced, therefore gaining massive popularity.

Another factor that has led to the increased use of online payment platforms is the Covid-19 pandemic. Since the beginning of the year 2020, most businesses have been operating remotely, with online money transfers being the safest and most convenient means of making transactions. We will now take a look at the various online payment methods whose use has risen since 2020.

 

  1. PayPal

One of the most popular online payment platforms is PayPal. It has been in use for many years but since 2020, its use has tremendously grown and also gained more traffic of Indian users. When sending money, the only details of the recipient that are needed is the email address. Their account will then be credited with the money that you have wired to them.

If you are shopping online and the seller’s webpage has the PayPal logo, this means that PayPal is an accepted mode of payment on that site. You need to select checkout, for the payment to be made. For you to confirm the payment, you will be prompted to log in to your PayPal account. You can rest assured that online sites have no access to the details of your PayPal finances.

 

  1. Skrill

 

Close to 20 years now, Skrill is an online wallet that has been in existence. It is quite versatile and offers a broad range of services when it comes to the transfer of currencies. Up to 40 different currencies can be used and transferred on Skrill, therefore allowing this platform to be conveniently used globally.

 

This platform allows the exchange of money between Skrill users and can also be used to send money internationally. In addition to this, Skrill is a platform that also has room for the trade of cryptocurrency. Its operations are regulated by several authorities worldwide and as a result, this online payment platform is reliable and safe.

 

  1. Stripe

A customer can easily transfer money from their bank account to a firm’s account while using Stripe. This platform facilitates the processing of digital payment across different channels while supporting both debit and credit card modes of currency transfer. Stripe is fashioned to be most effective for use by small businesses whose operations involve minimal risks.

 

Setting up a Stripe account is easy, has few requirements, and takes a short period for the approval of the account. The structure on which payments are generated is integrated, to ensure that transactions are seamless without having to go through multiple tedious steps. Stripe has incorporated security elements, ensuring that its users are assured of safety while transacting.

  1. Neteller

If you need a safe international online wallet and a platform where you can transfer currencies, make digital payments and also do some cryptocurrency trading, then Neteller is what you are looking for. Neteller supports payments to sellers, digital gambling transactions as well as making international payouts.

Withdrawals and payments are channeled through banks or merchant platforms. Opening a Neteller account is quick, money transfer is safe and almost instant. There are multiple ways in which a Neteller account can be funded. It can be done by crediting money using Visa debit, cryptocurrency cash, or other means.

 

  1. Authorize.net

Firms can efficiently receive and process payments made through credit cards, debit cards, and other online payment modes while using Authorize.net. This platform is a peripheral of Visa and for more than 20 years, has been offering services regarding payment getaway. Authorize.net is a legitimate online payment method that is responsible for handling so many transactions, on behalf of its merchant clients.

 

  1. WePay

JP Morgan & Chase is responsible for the operations of WePay. It is an online platform that offers consolidated and tailored payment processing interfaces for different kinds of businesses. WePay is a method that is predominantly used by software traders. Transactions are made via a debit or credit card, with strict security measures to be followed, ensuring no fraudulent activities coming into play.

 

  1. Google Pay

 

Google is the developer of this system, which makes it simple for you to make online purchases. It is both an online payment platform and a digital wallet. For you to use Google Pay, you require a Google device, a google account, and a debit or credit card. The operating system of the device can either be android or IOS. Payments are quick and for more convenience, your credit card’s details are instinctively synchronized whenever you log in to your Google account.

 

Many benefits are enjoyed from the use of any of the above modes of making payments, hence their popularity. Using these methods, transactions are fast, the procedures are automatic, the cost of labor is highly reduced, it is efficient and saves time. On top of this, since this kind of payment is contactless, there is a reduction of health hazards especially during the Covid-19 pandemic.