There are many alternatives to traditional payment methods now available to use to send money to people or buy goods and services. These can seem unusual or potentially not secure to those that have not used them before, but in reality, many alternative payment methods – powercash 21 and Paypal being two good ones – are actually more safe than the traditional methods.
PayPal was one of the first alternative payment methods to become popular and became a household name after partnering with eBay the online auction website. PayPal was used to pay individuals for products that were won on the bidding website to add an additional layer of safety if the product was not sent as expected for example. This is just one of the many advantages of using alternative payments. In this article, we have summarised the main reasons that you should be considering them.
Additional security
When you use a payment 3rd party you add your credit card to the website so that you can transfer funds. Once you’ve added them in once you don’t have to add them again. This means that you don’t have to give every website you buy something from your credit card details, minimizing the chance that someone may get a hold of them. The payment provider acts as a middle man, as you transfer money into the system it then goes to the seller of the goods or services you bought. The seller never has a chance to access your card details directly, meaning that they can’t be taken.
More flexible
There is nothing more annoying than finding something that you want to buy, going all the way through checkout just to realize that you don’t have your card handy to add in your details. Having an account with an alternative payment provider means that you can simply log in with your details and make the payment directly rather than having to go and find your car and add in all the information needed to make a transfer.
Quickly transfer cash to friends
It might be for something you’ve just bought or for splitting a bill, online payment providers mean that you can simply access the website on a mobile app and transfer someone money in less than a minute. This is instant and has no fees or delays.
Protection on online auctions
This relates specifically to PayPal, but they are one of the biggest providers on the market so it can’t be missed. Almost everyone has used eBay at some point and having PayPal is one of the best integrations to send and receive money. You get additional protection meaning that if there is an issue you can put in a complaint and get your money back. This feature is also available for other purchases, so if you but something online and doesn’t get the product or service that you paid for then you can dispute the transaction and get your money back. This is a great feature and one that you can’t get easily from traditional payment method providers.
