Online payment is simply an electronic exchange of money. These are payments that are made over the Internet or via telecommunications networks, generated from either a computer or a mobile phone.
Online payment by credit card
The development of electronic commerce, with a growth rate of nearly 30% per year, gives more and more importance to all online payment systems. This naturally accompanied by a boom in new technologies making these payments easier and more secure .Payment method the most traditional remains the bank card. Possible since the end of the 1980s, by the implementation of specific signature protocols, online gaming payment processing by OctaPay has now become very common on the Internet, thanks to the proliferation of accessible and secure platforms. Large companies such as MasterCard, Visa or American Express have actively participated in this phenomenon. It has thus become very easy for a merchant site to set up an online payment system, thanks to kits that are easy to install. In parallel, web site hosts have developed data encryption systems, which provide great security for exchanges. The Internet user can recognize these sites thanks to the HTTPS protocol, which replaces HTTP in the address bars.
Other online payment methods
In addition to the traditional method of payment by bank card, other parallel systems have been set up in recent years. The best known and oldest is PayPal. Its success has also earned it to be bought by the giant eBay, in order to facilitate payment between its members. We can also mention Skill, formerly Moneybookers. These payment platforms offer specifically Internet accounts, funded by card or transfer, which allow you to pay or receive money without entering your bank details. More recently, other online payment methods have emerged, for example the direct debit on the telecom bill of the Internet user, or the use of convertible virtual currencies, such as Bitcoin.
Which payment solution should I choose for my e-commerce site? This is an important question because after all, the purpose of an e-commerce site is to sell. If you are in the process of developing a merchant site or considering a better payment solution, this guide is for you.
We will present to you the three best solutions on the market in our opinion: Stripe, PayPal and Ozone (now Ingenious). We then offer you a complete overview of payment solutions, with more than 20 players (in the form of a Spreadsheet). Finally, we will address the issue of cost and the criteria to be taken into account to make the best choice for your e-commerce.
Stripe is the most “recent” solution of the three, since it was launched in 2010. It quickly established itself in the market and is today one of the most successful and innovative solutions. Major internet and digital players have adopted it, including Pinterest, Slack and Lift. Stripe is designed for e-commerce sales only. The solution has an impressive amount of features that sell products as well as services. There are connectors with virtually every e-commerce CMS on the market, which greatly facilitates the integration of Stripe on your site. Your customers don’t need to register to pay through Stripe. Stripe offers some pretty original features.
With this solution, for example, your customers can buy your products directly from Twitter. Customers can save their payment card so they don’t have to give out their information on future purchases. The reporting tool is particularly well done and allows you to monitor in detail and in real time the payments on your e-commerce. In addition, Stripe uses the latest security standards. What more can be said? Stripe manages payments by credit card, by transfer, by SEPA but does not, however, manage payment by check. In summary, Stripe is a solution that we recommend 100% to you. Its only drawback (but which can be major for some): everything is in English.