Online payments and e-commerce has experienced a symbiotic growth because of the pandemic. There are e-commerce initiatives that are a great aid for businesses to keep their revenue flowing in during these uncertain times. Some websites that accept online payments have the support of their country’s government. For certain developed nations, digital payment methods are no longer alternative payment solutions but the preferred methods of payment.
Quick online payments
Online payments are vital to send funds like that of remittance quickly to help those who are in dire need. One example of this would be how stimulus funds were sent to qualified citizens via online bank transfer or through an e-Wallet. The health risk made it difficult to go out and hand over the cash so making an online payment transaction was the way to provide help. When the aid is given in cash, people had to go out of their shelter and crowd in the distribution point. Large gatherings are discouraged, so online payment simplified matters for both those who were handing out the cash and the recipients.
Payment for online services
Consumers have turned to online payments for them to get their goods and services while some merchants who are selling online experience a boost in their business. There are services that are in demand such as that of streaming movies. To be able to watch from the popular streaming movie sites, one needs to make an online payment. It can be a one-time payment for watching a show or two or subscribing to be able to access an unlimited number of viewings.
Multiple streams of income
When it comes to earning revenue, many e-commerce sites have to seek various streams of income. There are other pay-per-view sites that are popular such as those for adult movies. There is a reliable payment provider that can be used to make an online payment for adult movie sites. These pay-per-view sites are popular because there are times that millions of people want to watch an event live, like that of a title bout of a boxing match. To be able to watch that live event, all that is needed is a one-time online payment. The advantage to the event organizer is that they can earn from the company that offers pay-per-view. Such arrangements are commonly done and it brings in the additional revenue to the organizer, aside from their ticket sales.
Advanced payment solutions
Not so long ago, e-commerce platforms were limited to payment methods such as that of credit card and bank transfers. Now that there are advanced payment solutions such as e-Wallets, it is much easier for many to open an account for making an online payment. Transforming from the former payment method of cash-upon-delivery to the advance payment solution of the payment-upon-delivery mobile system is one that aids both retailers and consumers. The crucial infrastructure was built to support e-commerce and domestic online payments with the protection of secured payment systems. Though the requirement for most digital payment methods is for identification, some accounts like that of e-Wallets may be opened with just the use of an email or a cell phone number.