Alternative Payment Methods
While credit cards still dominate online payment methods there are
a lot of other options available. Let’s look at a few options that you
may not have considered when sending or receiving money online.
eWallet
The most popular alternative to credit cards are electronic wallet options
like Neteller, Ecocard, Click2Pay and Moneybookers. eWallets avoid the
credit check, risk of denial and bank problems that credit cards have.
Customers simply deposit money into their e-wallet and then use it like
a credit card without the fear of rejection or of going over their spending
limit.
EFT
You probably know about EFTs (electronic fund transfers) but you may
not understand just how easy they are. The EFT is basically a bank transfer
where the money goes from your bank account to the online merchant or
vice versa. Sometimes you will have an independent provider that handles
the EFT so a bank is not always involved.
eCharge
Sometimes people are still reluctant to charge things online so they
prefer to use their phone. eCharge offers that option as goods and services
are charged to a phone bill.
e-check
This is really just an online version of a check where the funds are
drawn on a bank account. The e-check does require a standard checking
account but it is usually faster than using a regular check.
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