Best of the Week
Most Popular
1. Dollargeddon - Gold Price to Soar Above $6,000 - P_Radomski_CFA
2.Is Gold Price On Verge Of A Bottom, See For Yourself - Chris_Vermeulen
3.Dow Stock Market Trend Forecast 2018 - Nadeem_Walayat
4.Gold Price to Plunge Below $1000 - Key Factors for Gold & Silver Investors - P_Radomski_CFA
5.Why The Uranium Price Must Go Up - Richard_Mills
6.Dow Stock Market Trend Forecast 2018 - Video - Nadeem_Walayat
7.Jim Rogers on Gold, Silver, Bitcoin and Blockchain’s “Spectacular Future” - GoldCore
8.More Signs That the Stock Market Will Rally Until 2019 - Troy_Bombardia
9.It's Time for A New Economic Strategy in Turkey - Steve_H_Hanke
10.Fiat Currency Inflation, And Collapse Insurance - Raymond_Matison
Last 7 days
Precious Metals Sector: It’s 2013 All Over Again - 19th Sep 18
US Dollar Head & Shoulders Triggered. What's Next? - 19th Sep 18
Prepare for the Stock Market’s Volatility to Increase - 19th Sep 18
The Beginning of the End of the Dollar - 19th Sep 18
Land Rover Discovery Sport 'Approved Used' Bad Paint Job - Inchcape Chester - 19th Sep 18
Are Technology and FANG Stocks Bottoming? - 18th Sep 18
Predictive Trading Model Suggests Falling Stock Prices During US Elections - 18th Sep 18
Lehman Brothers Financial Collapse - Ten Years Later - 18th Sep 18
Financial Crisis Markets Reality Check Now in Progress - 18th Sep 18
Gold’s Ultimate Confirmation - 18th Sep 18
Omanization: a 20-year Process to Fight Volatile Oil Prices  - 18th Sep 18
Sheffield Best Secondary Schools Rankings and Trend Trajectory for Applications 2018 - 18th Sep 18
Gold / US Dollar Inverse Correlation - 17th Sep 18
The Apple Story - Trump Tariffs Penalize US Multinationals - 17th Sep 18
Wall Street Created Financial Crash Catastrophe Ten Years Later - 17th Sep 18
Trade Wars Are Going To Crash This Stock Market - 17th Sep 18
Why Is Apple Giving This Tiny Stock A $900 Million Opportunity? - 17th Sep 18
Financial Markets Macro/Micro View: Waves and Cycles - 17th Sep 18
Stock Market Bulls Prevail – for Now! - 17th Sep 18
GBPUSD Set to Explode Higher - 17th Sep 18
The China Threat - Global Crisis Hot Spots & Pressure Points - 17th Sep 18 - Jim_Willie_CB
Silver's Relationship with Gold Reaching Historical Extremes - 16th Sep 18
Emerging Markets to Follow and Those to Avoid - 16th Sep 18
Investing - Look at the Facts to Find the Truth - 16th Sep 18
Gold Stocks Forced Capitulation - 15th Sep 18
Hindenburg Omen & Consumer Confidence: More Signs of Stock Market Trouble in 2019 - 15th Sep 18
Trading The Global Future - Bad Consequences - 15th Sep 18
Central Banks Have Gone Rogue, Putting Us All at Risk - 15th Sep 18
Gold Price Seasonal Trend Analysis - 14th Sep 18
Growing Number of Small Businesses Opening – and Closing – In the UK - 14th Sep 18
Gold Price Trend Analysis - Video - 14th Sep 18
Esports Is Exploding—Here’s 3 Best Stocks to Profit From - 13th Sep 18
The Four Steel Men Behind Trump’s Trade War - 13th Sep 18
How Trump Tariffs Could Double America’s Trade Losses - 13th Sep 18
Next Financial Crisis Is Already Here! John Lewis 99% Profits CRASH - Retail Sector Collapse - 13th Sep 18
Trading Cryptocurrencies: To Win, You Must Know Where You're Wrong - 13th Sep 18
Gold, Silver, and USD Index - Three Important “Nothings” - 13th Sep 18
Precious Metals Sector On a Long-term SELL Signal - 13th Sep 18
Does Gambling Regulation Work - A Case Study - 13th Sep 18
The Ritual Burial of the US Constitution - 12th Sep 18
Stock Market Final Probe Higher ... Then the PANIC! - 12th Sep 18
Gold Nuggets And Silver Bullets - 12th Sep 18
Bitcoin Trading - SEC Strikes Again - 12th Sep 18

Market Oracle FREE Newsletter

Trading Any Market

The Changing Face of Payments: Online & Mobile Payments

Personal_Finance / Mobile Technology Aug 03, 2018 - 04:32 PM GMT

By: Steve_Marks

Personal_Finance

Back in the day, it used to be the case that cash was the only mainstream way to pay for pretty much every transaction. When cheques and bank cards became popular, they were considered to be cutting-edge payment forms that were about to change the world. Now, both of these payment methods are becoming increasingly obsolete. This is evident in the UK as more people use online payment and baking methods. One popular example of this is e-tailer payment methods. Popular examples of these include Amazon’s Amazon Pay and Apple’s Apple Pay. Originally envisioned as an extension of both Apple and Amazon, both payment methods can now be used elsewhere. Meaning that traditional payment methods like debit and credit cards are being used less and less. Another reason for this is the growth of online shopping. In the UK it is estimated that over 70% of households use online shopping. This follows the trend of increased internet usage.


Online payments are now ruling the roost – and from speed to convenience, there are plenty of reasons why this has occurred. Here are just some of the ways that online payments have grown and developed.

Easier and faster

The major benefit for most users of online payment systems, of course, is the speed and convenience that it offers. Many major systems, such as PayPal, are now integrated into online storefronts across the internet, so all it takes to pay is just one click or tap. Balances can be viewed on smartphones and laptops in seconds, while there’s no need to call the bank if you want to arrange a cash transfer to a friend or family member. For businesses, these time-saving methods save vital staff resources – which means that the staff member who may previously have had to visit the bank every day can now do something more productive.

Versatile

One of the major additional benefits of online payment systems, meanwhile, is how versatile they are in an age of unrivalled online choice. The internet is full of products and services, many of which aren’t available at in-person stores – so by shifting your personal finance focus to online rather than physical money, you’ll automatically be making it easier for yourself to pay for everything that the internet offers. Whether you make a deposit in your online casino wallet using Interac payments or simply settle an online shopping bill via PayPal, your trusty online payment system will deliver a versatility that cash simply can’t match.

Secure

When it comes to the internet, there have always been concerns over the security of financial transactions. With many people worried about the ways that data shared over the web can be hacked or otherwise maliciously accessed, online payment systems have to be robust in order to prevent problems. Thanks to developments such as two-factor authentication and end-to-end encryption, however, it’s now harder than ever for malicious eyes to find your payment data. In fact, in many ways, it’s safer to place your cash in a secure and reputable online payment processor than it is to have it in your wallet!

It’s no exaggeration to say that online payment systems truly have changed the world. From the way that they can provide speedy settlements, to the versatility that they offer in the age of online choice, there is all sort of benefits to these innovations. While there are still some important considerations – such as security – to take into account, it’s clear that online payment systems are robust enough now to take over as the primary way to pay for a whole host of transactions.

By Steve Marks

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules