With the number and value of online purchases rising all over the world to a total of close to $4 trillion in 2020, it is a good moment to consider the best ways of paying over the internet. There are several popular options that allow you to pay safely and speedily, so which is best for different situations?
An Ewallet for Keeping a Separate Balance
Ewallets such as PayPal, Google Pay, Skrill, and Neteller now make up a large percentage of the online payment market. PayPal alone has over 360 million users and they also offer a physical card reader that allows land-based transactions in addition to virtual purchases.
This type of electronic wallet offers a safe and secure approach, with users setting up their own username and password, as well as having the option of linking it to their existing bank account or cards. It is a particularly popular approach for keeping some funds separate from the person’s main bank account.
This method may be best if you regularly send money to sites that accept a certain wallet. On the other hand, if you use a variety of different websites for varying types of purchases, you might find that they don’t all accept the same wallet. It is worth noting that certain wallets tend to be prevalent in specific industries.
For example, e-wallets are widely used in online casinos and Asiabet.org confirm that Skrill is one of the most popular banking methods chosen by Indian customers. The site lets new players see at a glance that casinos like Happy Luke, Come On, and Dafabet accepts Skrill as well as a range of other payment methods.
Bearing this in mind, it is a good idea to do some research to see which option is likely to be of most use to you on the sites that you use regularly. This will allow you to make the right decision and open an account that is going to be of great use to you.
Bank Cards for Ease of Use
For many people, one of the simplest ways of paying for anything online is by using the same bank cards that they use to withdraw cash at ATMs and pay in physical shops. This can save time because it doesn’t involve moving money around or having to remember new passwords.
However, the negative issue here is that all of your bank funds will be linked to the card, meaning that it is even more important to choose a safe, reliable site to make payments on. Always look for a website that used the HTTPS protocol and shows a padlock in the address bar.
An alternative option is to look for a pre-paid card that can be used for online purchases. Some of the options in this sector include the Paysafe card and ePayService. The benefit, in this case, is that you only need to load it with the amount you are going to spend each time you plan to use it.
This is arguably the simplest payment method for anyone who likes to buy things now and then from a variety of online shops. As long as your current bank card is activated for online purchases and has a suitable spending limit, there isn’t really anything else that you need to do to get started.
Cryptocurrencies for Privacy
The growing trend for using cryptocurrencies to pay for goods and services online shows no sign of slowing down. In fact, PayPal’s reach decision to let users buy, sell, and spend crypto using their wallets has helped to increase the number of people doing this.
Other big brands that have started accepting cryptocurrencies include stock platform Robinhood and payment app Venmo. All of this has meant that more of us than ever before have the choice of paying using Bitcoin or one of the other popular digital coins.
Perhaps the biggest advantage when doing this is the privacy it offers, as these currencies are pseudo-anonymous. Any payments you make using them won’t be linked to your main bank account, making it perhaps a safer option.
Among the possible negatives with this approach is the fact that cryptocurrencies can be highly volatile, so you might lose money if you get some of these coins purely for buying things with but the price drops before you spend them.
The security aspect is also worth considering. Cryptocurrency wallets have an extremely high level of security but the potential downside of this is that you could lose your virtual cash if you lose your password or key. Overall, cryptocurrency may still be a better option for someone who is interested in the investment side of them, rather than just looking for a quick payment method.
All of the payment methods we have looked at here are useful in different situations. The key is in working out which one suits you best right now and then using it safely.