With the world of internet transactions becoming more and more sophisticated, it’s now becoming more important than ever to keep our eyes peeled for secure online payment systems. Whether we’re using online banking or online shopping, internet security is a growing but very relevant concern. Thankfully however, there are a number of advanced online payment systems available to keep our minds at ease.
PayPal
Founded in 2000, this new easy to use payment system and ecommerce site negated the need for cheques and money orders in favour of simple online payments. The system was altogether easier for those making payments online everywhere, and soon became the money transfer system of choice for online retail sites. Known as an ‘acquirer’, PayPal acts on behalf of the merchant by processing credit or debit card payments, and charges a small fee to withdraw funds. The system is associated with well known card brands including Visa, Mastercard and American Express, making it the payment system of choice for 106 million users.
Google Wallet
As Google’s answer to PayPal, Google Wallet is available exclusively to Google customers, allowing them to pay for goods and services through an account connected to their Google profile. While PayPal may be the payment processor of choice for some, the benefit of Google (and indeed to Google) is that so many millions of customers use Google’s services for other uses, for example email, so it is easy and secure to set up.
Stripe
This one’s a little different as it caters for a more niche market – specifically, the web developers’ market. Stripe’s robust API system is perfect for web developers who want to integrate a payment system into their projects, and akin to PayPal, it also acts as a merchant account for its providers. With Stripe, however, there is the added bonus of handling all PCI compliance and merchant approvals, so it’s a trustworthy choice for web developers.
Fast Engine
One of Fast Engine’s key components is its capacity for fraud prevention. This makes it the payment processor of choice for online gambling sites, many of which will be based in areas geographically distant from their users. So for example, users in the USA comparing slots sites for that region on gamblingafrica.com can rest assured that, though their site of choice may be based in Malta, their money will be transferred safely.
Bitcoins
The beauty of Bitcoins is that it operates with no central authority or banks, using peer to peer technology which manages transactions and Bitcoin distribution on its own network. Created in 2009, the system is open-source and public, and is also available to everyone, making it a unique system of choice for those who want to try something different. Available for individuals, businesses and developers, Bitcoins are the newest payment system that are attracting users from all walks of life.
