:: Online payment methods

Today Internet is not only the world biggest source, but the largest shop with the great number of online stores and auctions. Of course, this suggests that you'll be paying for your purchase. In this regard, many users simply don't know where to start and how to make money transactions. Considering that most users prefer to make as less efforts as possible, you can easily understand that today we have a wide range of electronic payment methods, most popular of them being:

PayPal

Probably one of the most well-known methods of payment which go as the first choice for buyers and sellers world-wide is PayPal. The reason of such choice is easy to understand, because PayPal payment method has a great number of benefits. Besides the fact that this method is fast and convenient, where money transaction goes straight away to the seller's account, you can track the order easily addressing to your PayPal account. In addition to it, with PayPal it's not all necessary to use your credit card, if for any reason you haven't any or simply do not want to use one. In terms of safety it's a good way to protect your credit card data, as these details are encrypted through bank account. PayPal prevents you from online fraud to make sure your payment is absolutely secure.

How does it work?

If you select PayPal payment method, you have a choice to pay by your credit or debit card or bank account. In case you never used this kind of payment you just sign up to create an account, enter all the necessary information and then send the payment. It's easy and doesn't require you a lot of efforts.

Credit card

Credit card payment is also considered to be quite popular due to its convenience. Though, there are of course some drawbacks of this payment method. First of all, this payment is traceable. And when you provide your credit card information to the seller, it's all up to your credit card company to give you necessary protection and all the problems that should arise with your purchase are generally referred to you credit card company.

How does it work?

When you place your order and submit necessary information, your transaction should be accepted by the issuing bank and then transferred to the receiving bank, which on its side credits an account.

Wire transfer

Wire transfer is one more electronic payment method that is actually a money transfer from one bank account to another. It is also thought to be one of the most secure methods especially if you need to make international payment. There is only bank involved in the transaction and there are no actual funds to touch between both parts-the seller and the buyer.

How does it work?

When you use wire transfer to pay you should provide your bank address and account number, company's mailing address as well as your home address. You simply don't need to use cash or cheque, because the transaction is done directly from one bank to another.

Personal Checks, Cashier's Check or Money Order

This payment method is mainly spread among small business sellers. If you decide on any of these forms, you should know that it is a choice for those who are absolutely sure of the seller. This kind of payment is traceable. Besides there are also some difficulties for both parts: the seller should take precautions in order to ensure that checks or money order is lawful to prevent themselves from fraud which is more easily to commit when paying with the check. For the buyer it can also be a problem to back up if things go the wrong way.

Escrow service

Escrow service is considered to be very convenient when you need to buy expensive things like jewelry, car or bulky items. This can be quite a secure way to protect your from online fraud.

How does it work?

When you use escrow service, your payment is being stored at a thrirdsman and come into force when the particular term is carried out. For example, you may hold any of your payment, like credit card, check or any other at escrow service and after you get your merchandise, the escrow service proceeds with the payment to the seller. This service is to be paid for.