What are the most reliable methods of payment online? Online shopping is more popular than ever but keeping your information secure is always a concern. When you’re browsing online, remember to check what payment facilities the vendor offers and confirm that they offer a high level of security. To help you learn more, take a look at these four methods of payment online and find the one that’s best for you:

Best Methods of Payment Online

1. Credit Card Payments

Paying by card is one of the most popular ways to shop online but millions of people routinely use their credit cards in store too. To facilitate the payment, you’ll need to authorize the transaction and wait for this information to be verified by your issuer. Once this takes place, the funds are debited from your account and transferred to the recipient via the issuer, with fees being deducted along the way. Then, you’ll be issued with a monthly statement that itemizes the transactions you’ve made.

This will help to boost your credit score, too. That’s because it showcases to the banks that you can take on healthy credit and pay it off without any issues. You should never make a purchase with a credit card that you don’t believe you can pay back, as this could put you into debt and severely impact your credit score.

2. Debit Card Payments

Debit card payments are processed in a similar way to credit card payments but there is one critical difference: the funds are taken from your account immediately. This means that you’ll need to have enough in your account to cover the cost of the purchase, rather than relying on a pre-authorized line of credit.

For this reason, this is perhaps the most popular form of payment that an individual can make. This payment could be completed with a physical card, or they could be using their card details to complete online transactions. It is very likely that you have made a debit card payment of some kind over the last 24 hours.

3. ACH Transfers

Automated Clearing House (ACH) transfers are bank-to-bank transactions that enable funds to be moved from one account to another. You might not have heard of them but there’s a good chance you’ve sent or received an ACH transfer, as the vast majority of employees are paid in this way!

ACH credits are ‘pushed’ from one account into another, while ACH debits are ‘pulled’ from an account when authorization is given. As you can authorize payments in advance, ACH debits are a particularly convenient way to pay for subscriptions or monthly contracts.

What is ACH debit? If you want a more in-depth explanation, take a look at Yodlee’s answer to ‘what is ACH debit’ now. With real-time verification checks and enhanced fraud protection, millions of consumers trust Yodlee’s ACH payment solutions.

4. All-in-One Platform

If you want to store lots of financial information in one place and use it when you’re shopping online, an all-in-one platform, like PayPal, can be useful. This effectively allows you to create a virtual wallet and choose which card to pay with every time you shop. If you have multiple credit and debit cards, for example, an all-in-one platform makes it easy to access the data you need when you want to make a purchase.

There are other examples of all-in-one platforms, but they are becoming more popular amongst those in the finance world, due to the investment opportunities they offer. Some platforms have investments incorporated into them, or they will have attractive saving accounts with fair interest rates, that could be of interest to you.

5. Cryptocurrency Payments

Some vendors, mainly online, will actually allow you to purchase goods and services with certain cryptocurrencies, such as Bitcoin. Some major companies, such as Microsoft and Starbucks, among the few that have embraced this payment method.

For those looking to start their own business, they can look into the possibility of accepting various crypto payments, in order to attract more customers. This will help a business to be more modern, and potentially drive up their income streams.

Keeping Your Financial Information Safe Online

These are a few methods of payment online, but you’ll notice that there are multiple companies offering payment gateway and processing services. By choosing to shop with online retailers who offer secure payment gateways, you can reduce the risk of financial fraud and ensure your data is kept confidential.

Fortunately, retailers are required to adhere to various financial regulations when accepting online payments so, with a little due diligence, you can feel confident about shopping online.

Belayet Hossain

I’m a tech enthusiast, entrepreneur, digital marketer and professional blogger equipped with skills in Digital Marketing, SEO, SEM, SMM, and lead generation. My objective is to simplify technology for you through detailed guides and reviews. I discovered WordPress while setting up my first business site and instantly became enamored. When not crafting websites, making content, or helping clients enhance their online ventures, I usually take care of my health and spend time with family, and explore the world. Connect with me on Facebook, Twitter, Linkedin or read my complete biography.