Various Means For Online Payment

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Shopping on an online platform has become quite easy with the development of many payment methods. We shall take a look at some of the popular ones.

Electronic Money

This method works the same way as regular cash – they can pay for goods or services. The difference is that they are on electronic media: a bank card, an electronic payment system account or an electronic wallet.

Bank Card

This is a plastic card that is linked to multiple bank accounts..the holder can make payments for whatever he needs, including online, and withdraw cash at ATMs and operating cash desks. In essence, it is a physical symbol of your bank account that you can touch and present.

Debit Card

With a debit card, you can spend only what you have in your account. But the funds spent from a credit card like the vanilla card balance are deducted automatically on credit and are required to return with interest.

A Virtual Bank Card

This is issued specifically for purchases and payments online. Often it does not even have a tangible medium: the bank tells you only the number, expiration date and card authentication code (CVC2 / CVV2). It happens in plastic, but you cannot pay for purchases offline and withdraw cash with it.

An Electronic Wallet

This is is a special program or Internet service with which you can store and pay electronic money. This is an analog of a bank account. The most famous: Yandex.Money and QIWI payment system wallet. There are also in the form of physical media: a card of the Moscow metro Troika and a SIM card of a mobile operator are also electronic wallets. You can replenish them through the terminals, from a credit card or a mobile phone account. You cannot directly withdraw money from such a wallet. First, you have to transfer them to a bank card and get to the ATM.

 

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