Online payment is simply an electronic exchange of money. These are payments that are made over the Internet or via telecommunications networks, generated from either a computer or a mobile phone.
Online payment by credit card
With a growth rate of almost 30% per year the growth of electronic commerce is giving all the online payment systems a growing importance. The bank card, of course, is followed by a surge in emerging technology, which simplifies and makes these payments more conventional. Card payment was very popular on the Internet since the end of the 1980s thanks to the proliferation of open and protected platforms by introducing complex signature protocols. This phenomenon has been successfully attended by major corporations including Mastercard, Visa or American Express. This makes it possible for a merchant account inUK, thanks to easy to install kits, to set up an online payment system. At the same time website hosts built data encryption systems that ensure a high degree of protection for exchanges. Via the HTTPS protocol, which replaces HTTP in address bars, the internet user may identify these pages.
Other online payment methods
Other parallel systems have been developed in recent years, in addition to the standard form of payment by bank card. PayPal is the most popular and the oldest. His performance also won him buying from the giant eBay to allow its members to pay. Skrill, formerly Moneybooker, can also be listed. These payment platforms offer internet accounts that are financed by a card or transfers that allow you to pay or receive money without having to enter your bank information. Other types of online payment, such as direct debit to the user’s telex payment account or the use of virtual convertible currencies like Bitcoin, have come to light recently.
Consumer habits die hard, cash has never really been dethroned. One of the indirect effects of the global health crisis, called for by all institutional and payment players, was to accelerate changes in habit. And this to the region’s most reluctant to part with cash. Apparently global phenomenon, which observers unanimously note. The consultancy firm McKinsey & Company reports a 40% increase in contactless payments, including mobile payment. A trend that analysts see continuing, supported by new deployments of solutions.
Apple Pay, Google Pay and even Samsung Pay wallets are also starting to do well, by contracting with ever-increasing French banks. Other practices and other solutions are found elsewhere. These include the QR code, widely used in Asia, or even instant payment (immediate transfer), particularly suitable for B to B transactions. There is also a growing appetite for payment by link, particularly in tourism and rental, which allows several people to pay.
We say of new payment methods that “to try them is to adopt them”. In any case, this is confirmed by the recent Capture study on contactless and mobile payment. Thus, “92% of respondents who installed a mobile wallet used it during the crisis”. While “90% of them want to continue paying via mobile wallet once the health crisis has passed. In other words, when it comes to payment at least, habits die hard. On the consumer side of course, but no doubt also on the side of the traders themselves, whose multiplication of payment methods is not necessarily the priority?