Electronic payment systems are a feature that allows for secure transactions. Online services emphasize confidentiality as well as the speed of crediting funds. New payment methods continue to appear on the market so that customers can conduct a transaction in a matter of minutes using a smartphone, tablet, or laptop. The creators of the functionality are interested in acquiring primacy, so the new services exclude fraud. The relevant systems on the market are discussed below.
Visa Checkout
Visa Checkout is a payment tool that allows instant transactions without the need to enter bank card details and personal information. The total number of registered accounts in the system reaches 20 million users with the support of more than 1,500 issuers.
The virtual wallet first appeared in 2014. The advantage of the tool is security. User data is protected – an additional authentication measure. It is worth highlighting the possibility of conducting transactions using a mobile, stationary device.
Masterpass
Masterpass technology is the corporation’s answer to rated international payment systems from rival Visa. It first appears on the market between 2016 and 2017. The technology is used by about 5,000 online stores in the region, allowing customers to pay for purchases in a few clicks.
The advantages of the system are as follows:
-Easy registration. It is enough to install a mobile application, create an account. For authorization completion you need to specify the code from the SMS-message.
-Confidentiality. Emphasis is placed on confidentiality and security of information.
-Devices and NFC. The technology allows you to pay for goods in a contactless payment format – not online.
Masterpass competes with a similar service from Visa.
Google Pay
Contactless payment system from Google. It is used on devices under the Android operating system. This technology is used by several million users in the region. It officially cooperates with the leading banking structures of the market, as well as online stores and brands.
The advantage of contactless payment technology is security. Added feature to track lost devices with the program installed. Supports adding Visa cards.
Apple Pay
NFC payment technology developed by Apple Corporation. The system is used on iOS operating systems – smartphones, tablets and smart watches. The model is used by several tens of millions of users.
The advantages of the system are the following:
-supported adding bank cards, transport and prepaid cards;
-The ability to pay quickly in online stores;
-The confidentiality of the information and high speed of transactions.
The wallet is used by more than half of active users of iOS devices.
PayPal
PayPal is an international service for fast payment for goods and services on the Internet. Registration takes a few minutes with a quick verification and the option to add a bank card of any bank Visa, MasterCard.
Transactions can be performed with a bank card or current account. The advantage of this service is the speed of transaction, absence of commission.
Amazon Pay
It is a rating platform that is considered a direct competitor of Pay Pal. Demand for this service is high in the USA and not so popular in Europe.
The main advantage of this model is the confidentiality and safety of funds – it guarantees Amazon. A quick payment function has been added, as well as the ability to send donations to charities.
Revolut
An international system that is used for convenient transactions with the use of any card, which does not depend on the issuer, on the bank.
The advantages of the service are:
-low cost of transactions to foreign countries;
-A variety of bank products;
-Commission is not charged when making transactions up to 1 thousand pounds;
-Functional mobile application.
Privacy of data and speed of payments are guaranteed.
Skrill
Operates on the market since 2001 with support of base currencies, including dollars and euros. The condition of obligatory verification was added to change the commission amount.
The system is notable for its ease of use, as well as the presence of a bonus model. Loyalty points are awarded for transactions, which can be converted into real money. It is allowed to credit funds from any bank card; other payment systems can be used for the transfer.