With the rise of online shopping, safe digital payment methods have become paramount for every merchant. We live in a world where we want to be able to shop for everything in just a couple of taps from our smart device, whether it is our phone, desktop computer, or even smart TV.
So, today most reputable online platforms offer a variety of payment methods which is a major reason why users decide to make a payment or leave the platform. This article will take a look at some popular payment methods on e-commerce sites or any site which allows you to shop online.
Mobile Payment AppsÂ
As we mentioned earlier, mobile devices have become a go-to device among digital users. We generally spent over 100 minutes on average in 2022 on our devices, and in the future, it’s expected this number to go up.
Whether you are spending time for entertainment reasons or shopping online, every business targets your mobile experience online because there is a rise in purchases made from smartphones. Actually, it is expected that by the end of 2022, there will be approximately $1 trillion transferred via mobile apps.
Some of the mobile payment apps which are widely used are PayPal, Google Play, and Apple Pay. Apple and Google Play are similar in many ways, but the major difference is that Google targets Android users while Apple Pay is available to iOS users. On Google Play and Apple Pay, there is a useful option to send money to family and friends anonymously, which is at the time only available for users in the United States.
Google Play and Apple Pay function as digital wallets and are able to store credit cards, debit cards, and event tickets for your concert or vouchers. They can be used on certain platforms, but it’s still not as popular as PayPal. It is extremely popular not just amongst users as a safe method for making purchases but also as a payment option for businesses. It has its own separate mobile app, which facilitates in-store and offline purchases, and it also allows you to store different credit cards on your account and instantly send or receive a payment.
One of the rising platforms which use PayPal is online casinos. Casino sites stay on top of the latest developments in the market, which is why they also integrate PayPal as an option on their sites, among other payment methods, including credit cards like Visa, MasterCard, Maestro, Skrill, and others options. The accessibility of different payment methods makes it easier to claim the best highroller bonus or other regular promotions and bonuses.
So, if you see PayPal on an online casino, you can rest assured that it is a reliable platform, as PayPal is known for being really picky about its partners. Another advantage is that it allows for immediate transfer of funds which is always beneficial for both parties.
Contactless paymentsÂ
Contactless payments are based on radio frequency identification or near-field communication in order to facilitate transactions in brick-and-mortar stores. But you would need, for example, your mobile device in order to use contactless payment methods like Apple Pay.
Otherwise, you can also use credit cards and debit cards; there are other businesses that have this type of technology, but the real pioneers are mobile apps like Apple Pay, Google Pay, and Samsung Pay.
CryptocurrenciesÂ
The latest payment options which have gained traction are cryptocurrencies since the latest Bitcoin bull cycle in 2020. They have generated new media attention for BTC and other cryptocurrencies, which has resulted in massive support from businesses around the world, such as Home Depot, PayPal, Twitch, OkCupid, and many others.