Top 5 Common Ways to Pay For a Payment Nowadays
With the continuous development of modern science and technology, it has become much easier for people to operate an online business and payment process instead of using cash. How many methods do you know? Please read our list in the following to find out what they are
Pay by card
This is the most common way to pay for a payment when shopping on the Internet. Paying by credit card accounts for 90% of all e-commerce transactions. With this payment method, online shoppers can easily make transactions with suppliers anytime, anywhere at the fastest time.
- Online payment by card includes 2 types:
+ Pay by credit card or international debit card: With this payment method, customers who own Visa, Master, American Express, JCB cards can pay on more than 60 websites connected to OnePay payment.
+ Payment by domestic debit card: this method is not really popular in Vietnam but it is used widely abroad
Pay by digital wallet (e- Wallet)
Digital wallets is a new generation of electronic, secure payments and cashless future.The facts, they are beneficial are beyond any doubt because they provide us safe system, stable speed and high portability. Shopping with m-payment, uniquely facilitates the process of selection and purchase of goods or services. Therefore people using digital wallet are getting increased recently. In 2016, the amount of money in digital wallets, available from mobile phones will be about $ 500 million.
Here are some several popular digital wallets: Google wallet, Paypal, M- Pesa digital wallet for developing country, Square cash, Venmo,…
Pay via payment gateway
A payment gateway is a service that authorizes and processes debit/credit card or PayPal payments for online merchants and traditional brick and mortar businesses. A payment gateway facilitates these transactions by encrypting sensitive data and transferring it between a payment portal (a website or a mobile device) and the bank/front end processor. Integrating payment gateway into e-commerce business becomes an obvious job when setting an online platform because it plays a vital role in generating revenue.
Paypal, Authorize.net, 2Checkout.com, Stripe,… are several names you should consider when choosing a payment gateway for your online business.
Pay by cash
This is the most-trusted method for shoppers because it ensures the goods will be delivered to consumers before paying. Most e-commerce websites use COD (Cash on delivery) method which allows shoppers to order in advance without making any deposit and after receiving the goods, the buyer can check commodity’s quality, if they are satisfied then pay cash directly to the shipper.
Pay through banking
Through ATM or direct transaction at the bank, the buyer transfers his money to the seller’s account before receiving the goods.
People often use this form of payment when they shop at large and reputable websites or from a seller they are truly trusted. Although this method brings huge benefit to sellers and buyers when they can not reach others, it also contains several risks for buyers such as delivery delay, poor quality, the commodity is not as committed…which is hard to return.
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