With the advancement in technology, and increased internet connectivity, many people are working online and others are setting up online businesses. We have so many payment solutions available now for online workers or businesses to choose from for their everyday transactions, but some of the key factors you need to look for when choosing any of the payment options are:
- If the payment option is secure
- The transaction fees
- Its availability in your country etc.
In this article, we look at some of the most used and top payment solutions for online transactions:
This is one of the most trusted payment platforms for online transactions and one of the pioneers in this field. PayPal allows you to accept payments in foreign currency and processes the currency exchange on your behalf at a minimal fee.
For small business owners, you have the ability to integrate PayPal checkout button on your website.This allows your customers to access the PayPal gateway to buy a product from your website. The customers are directed to a PayPal checkout page where they can use different payment methods to pay you. You can also create, send and receive payments for invoices with PayPal service.
PayPal is available in more than 200 countries and markets around the world, and accepting over 25 currencies hence makes it easy for Businesses targeting international customers to transfer and accept payments. Signing up for PayPal is easy; within minutes of signing up, you are able to enjoy the speed and security of online payments with PayPal.
Payoneer is also one of the best payment options for online entrepreneurs or businesses. They are available in more than 200 countries and accept 150 different currencies. Receiving Payments on this platform is free. Some of the reasons why Payoneer is preferred by most online businesses are:
- They have low fees
- They offer a unique service called, Global payment service which provides users with Local US, EU, JP, and UK receiving account number. Funds paid to this account, is easily received into the user’s Payoneer account, and then transferred automatically to user’s local bank account.
- They have a simple sign up process.
If you aren’t yet a member with Payoneer, you can sign up here.
Stripe offers a simple and easy to use platform for making online transactions. With stripe, you can transfer your money to your account fast and easily. Stripe is most popular with developers. Developers use stripe to integrate a payment system into their projects through stripes API. This prevents the need for a merchant account, and also allows them to build their own payment forms. It’s flexible API allows you to tailor the platform to meet your specific requirements. Once you setup stripe payment forms into your website, you can begin accepting digital payments from your customers. It works with over 100 currencies.
Skrill works in similar way to PayPal. They have a free set-up and low transaction fees. It’s very popular with international businesses with its features that allow you to transfer your account balance onto a prepaid debit card.
You can also read: Over 20 sites offering opportunities to make money online
Dwolla allows users to send and receive money through emails. Dwolla is mainly used to make payments within the U.S. They allow you to link only U.S. bank accounts or credit union account. They focus more on ACH/bank transfers.