Retail is no longer principally notes and loose change. With the growth of the internet, the possibilities to buy and sell practically anything have slowly evolved before our eyes. Simultaneously, the development of new and unique payment opportunities has changed dramatically in recent years.
Just like businesses, consumers want to be on the cutting-edge of technology and to be included in emerging and exciting trends. Therefore, it’s imperative that online stores cater for every requirement of the customer, by having a range of divergent payment options, so to ensure their company expands and stands out.
Fast becoming one of the go-to virtual wallets for online shoppers, PayPal is simple, intuitive and easy to use in conjunction with a bank account – not to mention highly trusted in terms of online security. The real kicker is its ability to be used across the world with minimal transaction fees.
A growing amount of online consumers are becoming nervous with the rising rate of cyber-crime in recent years. With this in mind, paysafecard have flourished by offering a method of payment which doesn’t require the user to connect their bank account. Users can purchase pre-paid cards from dedicated outlets such as supermarkets and local stores, and then use the service across the net.
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Even if you’re unfamiliar with cryptocurrencies, you’re more likely to recognize the name of Bitcoin. With fees lower than the typical credit card companies, merchants are increasingly accepting the relatively new virtual currency.
Retailers and customers will undoubtedly know about debit and credit cards, however pre-paid credits from Visa, MasterCard and American Express for example, are helping shoppers to not overspend what is currently in their bank account. When using pre-paid credit cards, no account or credit check is necessary.
What’s more, with virtual wallets such as the Apple Pay and Google Wallet harnessing NFC (Near Field Communication) technology, in which the user can simply tap their phone on a reader in-store, there are quickly becoming a wealth of options to supersede cash payment.
Soon there’ll come a time when having no money in your wallet won’t be an excuse for avoiding payment.
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