Digital Payments: Why Online Retailers Look Beyond Credit Cards
How new digital payment methods are changing the e-commerce game
Buying things online has become the default way of shopping for most people these days. The amount of progress that e-commerce has made in the previous decade is remarkable. We remember when people didn't trust websites with their credit card info and online shopping was written off as a fad. Then Amazon came and changed the whole game. Now whenever we need to buy something, we usually look online first. Who wants to drive half an hour to the nearest mall when you can get it with just a few clicks?
However, the real revolution happening right now isn't driven by big stores like Amazon. It is driven by small retailers. The world of e-commerce is opening up for small businesses in a way that was never possible before. The biggest roadblock to accepting payments was drawing the attention of their target customers.
If you wanted to process a credit card, you needed to be registered with Visa or MasterCard.The registration process wasn't easy. It took a lot of money and required a lot of documentation which was out of reach for a small business.
New Payment Options Opened up E-Commerce
There were many problems with depending on credit cards. One was that it required the buyer to have credit cards. This is a big problem for retailers selling to countries outside the Western hemisphere, where having a credit card isn't the norm. Another problem was dealing with banks. Small retailers were often left wondering what to do after a chargeback or a customer dispute. New payment options have opened e-commerce to people who could never be a part of it ever before. How? Let's look at some of the exciting payment options we have available these days.
Read more -
https://www.engadget.com/2016/12/15/digital-payments-why-online-retailers-look-beyond-credit-cards/https://twitter.com/CoreMediaRadio/status/810516248530456576 so what is new is going straight from currency to payment without credit card.
waves concurrents represent real references in today's world : paypal, bitcoin, skrill, apple pay, ripple...
i have a remark : the real challenge is to avoid credit card, as for exemple there is one mandatory (or bank account) behind paypal...