Bank cards and payment gateway. Payment on the Internet using bank cards is the most common way. The most popular for this type of payment international payment systems Visa and Master Card. To make a payment by bank card, you must enter your card data, security code CVV2 / CVC2, and pass authentication, for example, by entering the code 3D Secure.
To make the process of buying a product from your favorite online store convenient and take a few minutes, there are payment gateways. They are an excellent tool that helps make the buying process comfortable for the user and the seller quickly get the money into his account. And it also allows you to expand the geography of customers, thereby increasing sales.
This is a kind of intermediary responsible for sending transaction information from the buyer to the payment processor and vice versa. You can connect the payment system to your business and accept payments for goods or services online. Once the buyer pays, the money will be available in your internal account. You can manage funds inside the system or withdraw them.
Money Transfers and Electronic Wallets
Payment systems also allow you to make money transfers. Modern technology allows you to send money transfers to the recipient’s bank accounts, to the card or within the payment system itself. Transfers are made instantly, regardless of the day and time of day, in different currencies, for a small commission.
Many payment systems also have electronic wallets among their services. This is a place where you can store electronic money. Electronic wallets can also be used to pay for services and make transfers. E-wallets are often not tied to a country and work with different currencies. One advantage of e-wallets is that you do not have to pay for their service. A commission is charged only for transactions.
In addition to standard e-wallets, there are also bitcoin wallets. Their purpose is similar to traditional e-wallets, except for the fact that a bitcoin wallet stores cryptocurrency and performs transactions only in bitcoins. After you create a bitcoin wallet, you will receive an address through which all transactions are made.