Finance

The Online Payment Methods That Are Now a Household Name

The Online Payment Methods That Are Now a Household Name
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In an age where technology is vastly revolutionizing the financial industry, you have likely used an online payment method. These payment methods are fast and secure and make transactions easier to a massive degree.

In this article, we will walk you through some fintech solutions that resonate with a large populace. Without further ado, let’s get straight into it. 

Venmo

Venmo is a payment platform that took the whole world by storm. This platform offers users multiple benefits, making it one of the most popular online payment methods. One of its most outstanding features is the striking resemblance to a social media platform. 

Thanks to this, it massively resonated with younger demographics. Venmo facilitates bank integration, making sending and receiving funds a walk in the park. This feature proves massively resourceful in gaming. 

Players can use Venmo when purchasing a particular power-up or wire funds into an online wagering account. Luckily, numerous reputable sites accept this payment method. As a wagering enthusiast, you can see the best casinos that accept venmo on trusted platforms. 

PayPal

If you have transacted online, PayPal is a platform you have most likely run into. A popular household name, PayPal offers quick financial transfer solutions to businesses and individuals. Several factors accredit its popularity, with ease in account setup topping the list. 

Additionally, PayPal is available in 200 countries/regions and is well-versed in 25 currencies. This level of inclusivity makes it easier for everyone to use the platform for wiring funds. Service fees are also a big determinant of PayPal’s popularity.

The app offers varying transaction charges, including PayPal to PayPal accounts and cards. Expect to fall in a 3 – 5% fee bracket when transacting on this platform, with the latter figure predominant in cross-border transactions. 

Skrill

Small and medium business owners must feel blessed to have Skrill. This platform makes a great selection for these kinds of institutions because of the benefits offered. A particularly outstanding quality is the lower fees compared to other payment platforms. 

In terms of security, Skrill ensures your transactions are safe. While not common knowledge to the public, this platform was initially known as Moneybookers, and they’ve been around for the past two decades. 

During this time, constant security revision measures have been implemented to curb fraudulent incidences in businesses and the online gambling industry. This is because the online casino niche is highly volatile in terms of security and prone to such occurrences. Generally, skrill is a great platform and offers a fantastic user experience. 

Amazon Pay

Amazon Pay covers you if you seek a cross-border payment facility with minimal costs. While relatively new in fintech, this platform continually garners millions of users due to various advantages. 

Featuring extensive multi-currency and cost-effective costs, Amazon Pay makes a good choice for businesses and individuals seeking to transact internationally. This platform also streamlines checkouts, making paying for services easier through details saved in your Amazon Alexa and account. 

Google Pay

Google is a technological giant with fingerprints in the financial industry. The reason Google Pay appears on this list is its wide integration ability. It is almost unlikely that you transact online and miss a Google account. Statistics show Google Pay has over 150 million users in 132 countries globally. 

With Google Pay, initially known as Android Pay, you can easily transact using your Google account. Since millions of users enjoy Google services, it becomes easy to transact. Furthermore, with Google Pay, storing your financial information is safer, easier to access, and more reliable. An added benefit you can take advantage of is the absence of payment processing fees. 

Stripe

In the modern age, we all prefer convenience and the ability to customize platforms to suit our needs. No payment platform comes close to enabling this like Stripe. With a robust Application Programming Interface, you can rearrange the interface to suit your business or individual needs. 

For instance, if you wish to integrate it into a subscription-based business model or to fit an on-demand scene, you can do so on Stripe. This platform accepts over 135 currencies and extends assistance to local currencies. 

The only downside to this household name is they don’t offer customers local payment methods. By only accepting payments via cards, you might be susceptible to high transaction fees. 

Conclusion

Online payment solutions have made transacting easy, secure, and, in some instances, like on Venmo, more fun. Regardless of the numerous platforms offering these services, a few meet global needs due to their usage extent and features offered. Some household names include PayPal, Venmo, Stripe, and Google Pay. 

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Miller Willson

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