They are so many different types of online payment methods out there to purchase the things that you need for your everyday life. Online shoppers in the U.S. overwhelmingly prefer to pay for their purchases by credit card. Foreign shoppers, however, often use other methods because credit cards are not as readily available and widely used in other countries. But credit cards aside, there are several other alternate payment methods that are safe, efficient and easy to use. Usage and processing costs for many of these alternative methods are often inexpensive. The more consumers become familiar with these ways to pay, the more widely used they will become.
Here are some ways that we pay all over the world:
Debit card, alternately called a bank card or check card, is a way to pay directly that draws cash for a purchase directly from a bank account and transferring to an account held by the seller. Most online merchants will accept debit card purchases.
The bank transfer is similar to the debit card method – it’s a method of transferring cash from one bank account to another account. The debit card in a bank transfer transaction is not necessary, although the results are the same. The bank transfer method provides security and speed, and is widely used in Europe, but is also available in the U.S.
Bill Me Later
“Bill me later” is a way to use PayPal and pay without a credit card. Users provide their birthday, the last four digits of their Social Security number and agree to accept the contract terms. Once this process is concluded, the purchase is made. The bill is sent later. Users are subject to a credit check before being approved.
PayPal is an e-commerce payment processing company owned by eBay. Users set up a PayPal account and pay a fee for each cash transaction. Rules and fees vary for currencies used and cash amounts transacted. The PayPal website has an easy, step-by-step sign on process. Rules are spelled out in detail. Users can pay from their PayPal account.