Monday, 22 June 2015

Different electronic payment systems

There are a lot of electronic payment systems present in our today’s world. In as much as they serve a common goal, they slightly differ from each other. Let’s discuss how different electronic payment systems work:

We pay
It allows consumers to make purchases without living the vendor’s site through a virtual terminal. This is advantageous because it makes customers feel that you are after their interests and not their credit card numbers. We Pay is best known for its outstanding customer service and fraud protection.

It enables consumers to receive PayPal and Google wallet. It doesn’t have features of PayPal but it is equally good. It allows you to send money directly from your bank account or Google wallet balance. It also allows you to receive or transfer money to your bank account free of charge. You however get charged a 2.9% fee if you send money via Credit Card.

With Payoneer, you can own a virtual US bank account and this is advantageous especially to people who don’t live in the US but need to get money in a US bank. When using Payoneer you will be charged an annual fee of 29.95$. If you make withdrawals from the ATM you will be charged about 3.00$ and for every transaction you will be charged some transaction fee.

Google Checkout
This system largely aims at merchants. This is because it enables them to refer buyers to a checkout page which is managed by Google. On that page a customer is to enter their payment information and then be send back to the retailer’s site with a confirmation of purchase.

These are just but a few online payment options. You can use whichever you prefer as long as it meets your needs as well as you customers’.

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