Reviews of Payment Methods Online
As a frequent online shopper, I have used quite a few of the most popular payment methods used by online sellers. While all work, some obviously I prefer over others. Here are my thoughts on the most commonly offered payment methods.
- PayPal is obviously the best known and most frequently used payment method of its kind. It is convenient for sellers, because they can accept credit card payments without selling high enough volumes to justify an international merchant account. Buyers also have the convenience of paying with account transfer or credit card, without the seller ever seeing their account numbers. Recently PayPal also changed their system so that you don’t have to actually have an account in order to pay with this service, making it easier than ever for buyers and sellers. However, some people dislike PayPal’s policies and big-company attitude, and refuse to support the company by utilizing its services.
- Google AdSense is pretty much the same as PayPal, just lesser known, and therefore not accepted by as many sellers. There are also several similar services, such as Paymate, ProPay, and Moneybookers.
- Credit card payments are also very common online — meaning the kind where you type your credit card number into the seller’s (secure!) website page. Buyers have to be extra cautious about this, though, because there are scams online that collect unwary buyers’ credit card numbers for fraud purposes. Always make sure the website is secure — no bank or card payment processing service will try to collect your card number on an unsecure site — and be sure not to give your card number to companies you don’t know or haven’t researched.
- Check payments are no longer as popular, now that credit card payments are so easy and common online, but some companies still do take check payments. For instance, you can even send Amazon.com a check, which they will credit to your account. The drawback to that is that you then have a balance that you have to spend — and add more to as it dwindles! Also, check payments aren’t as convenient for many buyers because some sellers will wait for the check to clear before shipping the order.
Which payment methods do you prefer to use online?
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