When you pay for something or transfer money to your bank account, with all probability you decide to use a credit card or an app. Did you know that many more banking methods for online use may work better on certain occasions? No matter if you are making a purchase in an online store or transferring money from one account to the other. Find out what are some of the most popular banking methods and how to use them.
Credit card
We must mention credit cards as they are the most popular payment method used by people all around the globe. However, they are slowly being replaced by other banking methods, as they might be inconvenient in some situations. If you wish to purchase something and pay with your credit card, you need to provide its number, expiration date, and its security code. First, it’s time-consuming and when you do not have your credit card within reach, it’s troublesome. Second, it might be a little dangerous, as you need to be really sure of the website when entering such information. Otherwise, these data might get stolen, and your bank account will be empty in no time.
PayPal
A highly popular payment method that is used by people from all over the world is PayPal. Even if you have never used it before, you have probably heard the name. Here is a brief explanation of what PayPal is and how it works. It is a system that allows you to send and receive money to and from your account. It sounds a bit like a bank account, but, in fact, you can link your bank account and credit cards to PayPal, while the platform only works as a middleman. Why would you need such a service? PayPal ensures that your payments are secured. What’s more, there are situations when your bank account won’t work, e.g., in the case of online entertainment such as online casinos or sports betting. When you want to bet some money on your favorite sports team or withdraw your winning, you need an account to store money. However, bank accounts rarely provide such an opportunity. That’s when PayPal comes in handy. When you are betting on sites like SBO, you can send money back and forth in a safe way. Such betting platforms allow the use of other forms of payment as well, and everything is secure.
Google Pay and Apple Pay
As thousands of people use Google every hour to search for products and services, the idea to create a convenient method of payment for them was only a matter of time. Currently, people can use Google Pay to save a few payment methods, including their credit cards, and use them when necessary in a few quick clicks. There is no need to search for a credit card, transfer data, or provide security codes every time you want to pay for something. What’s more, Google Pay allows customers to store loyalty and gift cards as well.
The same path was chosen by another technological giant, Apple. It provides its users with a chance to pay quickly and conveniently with the use of Apple Pay. If you are using one of their products, you can verify your payment with the Touch ID fingerprint sensor.
Digital currencies
When discussing popular payment methods, it is impossible not to mention digital currencies. Cryptocurrencies are gaining popularity among regular users. They are no longer a tool for companies. Ordinary people decide to invest in cryptocurrencies, mostly Bitcoin, and try to make a profit out of it. Some companies allow people to pay for goods or services with the use of digital currencies, so they are certainly getting more popular among the public.
Buy now, pay later
In the world of online shopping, people love to spend more money than is necessary. They purchase and purchase, but then it turns out that half of the things they have bought are not what they expected. That is the threat of online shopping. There is a solution — you can buy now, pay later. Interest-free credit providers are gaining popularity and customers all over the world, and if you are interested in the subject, the Nerdwallet article gives an inside into the topic.