Online Payment Methods are the methods by which the buyer chooses to pay the value of his purchases from the seller via the Internet. There are many online payment methods to facilitate online cash transactions. In this article, we will show you the most popular online payment methods for 2019.
It is one of the methods of paying all your daily, weekly or monthly obligations electronically. It is also a system provided by the financial and banking institutions to make the electronic payment process safe and easy, and this system is subject to laws which make all financial movements in strict secrecy to ensure protection and security The electronic payment system has emerged in conjunction with the emergence of electronic commerce, so it is considered to be closely related to information and communication technology, which complement its electronic procedures of sale and purchase.
The Most Popular Online Payment Methods
Credit Payment System
A card issued by a financial company that enables the cardholder to borrow money. Funds can be used to pay and pay for goods and services. The issuance of credit cards requires the cardholder to pay the original amount of the borrower plus any additional agreed fees after consuming the maximum so that he can use them again.
E-Wallets or Wallets is a virtual wallet that stores payment card information on a mobile device, such as PayPal and is one of the most important electronic payment methods around the world. This can include buying items online using a computer or using a smartphone to buy something from a store. The individual bank account can also be linked to the digital wallet.
A smart card is a physical card that contains a built-in chip that acts as a security token. Usually, the same size as a driving license or credit card can be made of metal or plastic. You communicate with the reader by means of direct physical communication, or through short-term wireless communication standards such as radio frequency identification (RFID) or semi-communication (NFC).
Cash Payment System
A financial transaction in which a person withdraws funds from someone else’s bank account. Direct debit is typically used for recurring payments, such as credit cards and utility bills, where payment amounts vary from payment to payment.
Is an electronic version of paper checks that provide different processing times for payment and little waste. With Electronic Checks eCheck, funds are electronically transferred from the Defenders Check account and deposited directly into the Vendor Account, after passing through the ACH network.
It is an online system that facilitates the anonymous transfer of funds. Like credit cards, eCash is now free for users, while vendors pay fees.
Stored Value Card
It is a kind of electronic debit card bank. The stored value cards have a dollar-denominated value programmed into them. Banks offer these cards as a service to customers who can not open deposit accounts or other deposit accounts.
Electronic websites are the most important means of electronic payment because they play the role of intermediary between the one who buys and the trader and is preferred by many people at the moment for the convenience of buying any product through the Internet.
These companies work on the latest payment method through the Internet, and rely on these companies on their own programs are created and developed in their sites, which are easy to transfer, you can transfer a certain amount from one country to a country without having to go to the bank for conversion, only intentionally On your phone or use the app from your device.