What's the best way to pay online?
Paying for goods and services online can sometimes be pretty difficult to get your head around, particularly if you're concerned about online security. And, as with anything in life, different payment methods are better suited to different purchases.
We’re going to take you through some of the most common online payment methods and ten general rules regarding each, so you can take some of the guesswork out of shopping online and figure out which one is best suited to your next online purchase.
Credit card
Credit cards remain the most popular online payment method, mainly due to ease and convenience and prominence in most households. Although when paying online with a credit card it’s important to make sure you’re not sharing your details with the wrong people. Card providers have introduced security features to make it even safer.
Debit card
Debit cards are also becoming an increasingly popular way of paying for things online, working in much the same manner as a credit card by allowing users to electronically transfer funds automatically from their account to the place rather than putting the payment on credit. This is useful for people concerned with incurring debt.
Online payment services
PayPal, Paymate and eWAY are examples of online payments services. The way they work is that they act as intermediaries between merchant and consumers. You’re technically still making the payment with your credit card but it’s coming via PayPal, with an extra layer of security protecting the consumer.
Electronic bill payment services
Larger organisations will generally get their customers to pay bills with electronic bill payment services which are handy when making regular, larger payments on a regular basis.
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