The Hostway Blog

Please Pay Here: Today's Top Digital Payment Options

Years ago, the only way to pay for goods was with cash, check or credit. Consumers had to travel to stores with payment in hand and pick up their items. With e-commerce, all this has changed.

Nowadays, all you need to complete a transaction is a click of a button and a few key pieces of information. Digital payments enable shoppers to sidestep purchasing forms while paying for their goods.

There are many options when it comes to digital payments. Let's take a look at a few of the top payment options accepted by e-commerce companies today, and how these payment avenues can benefit your business.

What are today's top payment options?
What technologies enable today's shoppers to purchase items from their favorite brands without a credit or debit card, and how do they work?

Digital payment platforms save a consumer's payment information for later use. PayPal largely blazed the trail for these services.

Today's shoppers don't have to keep their credit cards handy, and can instead use information saved in their digital payment accounts.
Today's shoppers don't have to keep their credit cards handy, and can instead use information saved in their digital payment accounts.

Small Business Trends contributor Joshua Sophy pointed out that PayPal has become an industry standard for digital payments. The platform is integrated with a retailer's online store and directs shoppers to a PayPal checkout page, where consumers can log in to their PayPal account and use a saved debit or credit card, money order, or other forms of payment to purchase goods. According to Search Engine Journal, more than 137 million shoppers have PayPal accounts, which they utilize in 193 markets across 26 different countries.

Another popular digital payment option is Google Wallet, which works similarly to PayPal. Google Wallet enables shoppers to utilize their stored account information to pay for items. Google also announced that they are creating a physical card for consumers to use at physical store locations.

Apple also created its own payment platform, Apple Pay, which is integrated into users' Apple devices, enabling them to purchase apps, music and more from Apple's store. This payment option is becoming more popular in e-commerce, and comes with the added benefit of a fingerprint scan to confirm payments, noted About Payments.

"There are a range of advantages for businesses that accept digital payments, including a better, easier shopping experience for customers."

What are the benefits of accepting digital payments?
Digital payments can create a better, easier shopping experience. Consumers no longer have to fill out lengthy forms for every transaction. With digital payment platforms like Google Wallet and Apple Pay, users are able to create accounts and save their payment information. Even when a person's debit card isn't accessible, they can still use their digital account to pay.

These systems also boost security for both users and retailers. Having shoppers log in to their digital wallet accounts adds an extra layer of protection, making it much harder for a cybercriminal to intercept or otherwise disrupt the payment. Apple has upped the ante here with the fingerprint scan, implementing an additional safeguard that makes it nearly impossible for a third-party breach to occur.

Digital payments also help support an increasingly mobile world. Today's shoppers are increasingly leveraging their smartphones, tablets and laptops to browse and make purchases. Being able to utilize a payment portal that is supported on these devices streamlines the transaction process.

Overall, accepting digital payments is about providing choices and enabling customers to pay for goods in a way that best suits their needs. Many consumers are beginning to appreciate the ease that comes with digital payments as opposed to repeatedly entering their credit or debit information. Supporting these technologies can help a company maintain a favorable position in the marketplace as they seek to address customer pain points related to paying for goods and provide for shoppers' needs.