In the year 2015, statistic shows that 87% of those in the US who are over 18 years old had access or owns a mobile phone. This percentage has dramatically increased since then, with more people owning a smartphone and even own more than one mobile device. More people are making online payments now than ever before, and contributing to the boom of the global eCommerce industry.
Various payment methods
There are many options for you to make payments online. You are no longer limited to using your debit or credit card like you were a few years ago. With the influx of online payment processing services being developed, the methods of payments have also increased.
Using a money services company
You may make payments using a browser whether you are on your computer or on your mobile phone. This option can be used also by downloading the money services company’s app. It gives you the choice of making payments in a number of methods such as through your credit or debit card, wire transfer, peer-to-peer payments, or through online payment services. This is also one of the most common ways that you can go about sending and receiving funds.
Mobile apps
Most of the online payment services out there also have mobile apps available for download onto your smartphone. You can easily make a payment simply by logging into your account on your app and processing it through there. As long as you remember to use a secure server and not do this with the use of a public WiFi, then this method is as safe as any other online payment type there is. These mobile apps are typically e-wallets that can store, send, and receive funds.
Direct carrier billing
Direct carrier billing is a method of online payment that you can perform through your mobile as well. This entails you paying for a purchase through your mobile’s service carrier. This makes it easier to do your online shopping through your phone since you will only have to pay for your purchases along with your monthly phone bill.
Online banking
Online banking has been rising in popularity especially in European countries like Sweden and the UK. This is a way that you can make transactions through your bank without actually having to go there. You can also monitor your banking transactions in realtime through your bank’s online account. There are also mobile apps that you can download to make your banking even easier.
Email transfer
To initiate the sending of funds, there is this money services app enables you to use this kind of secure payment system by using an email. It is a secure payment system that is widely used in countries such as Canada. The advantage of using this money services app is that you can send money to nearly anyone in the world, using different channels.
Mobile financial services
The adoption of using mobile financial services steadily increases worldwide. The developments are astounding due to technology, which makes it possible to make online payments with ease. It is best to use the multi-functional app of a reliable money services that has integrated the various types of online payments.