Future payments

Following are few other payment options suggested by eCommerce solution provider companies.

E-Money

In credit/ debit card payment transaction, issuing bank charges the merchants a significant fee for each transaction, therefore cards are not good way to sell items for little money. Because of this transaction charge numerous businesses comes in market with special services e-money.

PayPal is successful business that allows people to send money to other people or to merchants without a merchant account with a bank.

Bitcoins and Crypto currencies

Another type of installment getting media consideration as of late is through the utilization of bitcoins or different crypto currencies. A percentage of the primary points of interest progressed for bitcoin are that:

The supply is entirely constrained and not controlled by the government.

Bitcoins are often divided into smaller payments, permitting micro-payments, and

The expense of exchanges are greatly low.

Wireless payments

Payments which are done through wireless device are known as wireless payments.  For example when you want to take dinner in restaurant but you have no money with you at that time. You do, however mobile phones have with you so you can transfer money from mobile using NFC or via your own bank account.

Today two Apple provides this concept through apple pay and Google via Google wallet.

Apple Pay

Apple Pay could be a mobile payment service that lets sure Apple mobile devices build payments at retail and on-line checkout. It digitizes and replaces the credit or debit magnetic tape card group action at MasterCard terminals. The service lets Apple devices wirelessly communicate with purpose of sale systems employing a close to field communication (NFC) antenna, a "dedicated chip that stores encrypted payment information" (known because the Secure Element), and Apple's Passbook and Touch ID.

The administration keeps customer installment information non-open from the distributer, and makes a "dynamic security code [...] produced for each exchange". Apple would not track use, which may keep between the customers, the sellers, furthermore the banks.

Google mobile payment system

This Google Mobile installment framework is in light of the NFC (Near Field Communication), the innovation that permits exchanging data remotely starting with one gadget then onto the next. Furthermore, yes, it bodes well for an organization like Google to make its invasion into this field. The acquiring routine of individuals is completely cherished data for the promoting organizations. These organizations can use the data gathered by Google to market their items and administrations.

Google wallet mobile payments

Google Wallet is a cell phone application that transforms your telephone into a virtual MasterCard/card-less paying gadget Google Wallet will have this image at the clerk:

To pay, you just tap the Google Wallet application on your telephone, punch in a 4-digit PIN code to open it, and touch the telephone to the terminal. This will send a safe installment by means of Near Field Communication (NFC). A Google Prepaid Card is really a virtual card in which you include fiscal trusts from any of your current charge cards.