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Payment methods today and tomorrow


Paying for something is the last step before you are allocated a product or service that you want, need or should have. A real passion killer at any checkout point is not being able to pay for your purchases because your website does not support your preferred payment method or even the only payment methods available to you. It is enough to make everyone abandon their mission or look elsewhere for their purchase, product or service.


Given that studies show that up to 70% of the population prefers online shopping to local shops, it is becoming very important for e-commerce sites to extend their range of payment options.


Fortunately, the days of relying on credit cards as the only payment option are long gone, and everywhere from small e-commerce sites to leading online casino-market.com offer a range of banking options. We take a look at the future of payment methods, exploring the practical as well as the weird.


Amazon Pay


Amazon Pay enables users to use their Amazon account to pay for products and services on third-party websites. Third-party sites have the option to register to support Amazon's payment method and in turn can offer their customers better security measures. Using a standardised payment method such as Amazon Pay limits the potential exposure of sensitive financial information to unauthorised people.


In addition, it is not necessary to sell your goods on Amazon to sign up for Amazon Pay. In fact, even ordinary retail outlets that do not normally sell online are allowed to offer Amazon Pay to their customers.


Pay Apple


Apple Pay is a firm favourite because it allows the user to pay for goods purchased online using a regular Apple device. Every Apple user has a payment method already linked to an Apple ID or Apple account. "Apple Pay simply provides the necessary authorisation for a third party to make a payment by logging into an Apple account, usually using Apple's Touch ID technology built into most iPhones.


Google Wallet


Google Wallet is very similar to PayPal, but better because it is free. The only drawback is that businesses cannot use Google Wallet for commerce, i.e. only individuals can use it.


Bitcoin


Until recently, the concept of Bitcoin has been viewed with great suspicion. Since then, the popularity has brightened somewhat and Bitcoin is now considered one of the safest and easiest ways to pay for something online.


Biometric payment


When considering the shortcut that Apple took when it introduced its Touch ID feature into the payment equation, the development of biometric payment methods does not seem that far-fetched.


Consider the latest idea to hit the biometric research field; payment by skull echoes and brain imprints. Imagine a world where you didn't have to remember any passwords. Now imagine a world where you no longer need to carry a credit card. Or remember your credit card account details. At first this might seem like something from the pages of a science fiction novel, but given the leaps and bounds that research has made, the idea of using technology to harness the human brain is not that far off.


In fact, current research is a long way from being able to transfer password or credit card data directly from your brain to a machine connected to the internet. But then again, the idea of a highway of information about every conceivable object on the planet was also wrong!


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