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Most Famous Online Payment Systems

First of all let's look at the need for online payment systems and the scenarios that make them so valuable.

Ever since the beginning of the web, there have been business people looking for ways to make money. That's all well and good but you need websites to do so and in the early days payments were made hand to hand or via mail. The idea of major merchant accounts and online money transfer systems were unheard of. It was real primitive in those days and it wasn't until the early to mid 1990s that the move to use credit and debit cards online came about. Entrepreneurs looked a the merchant industry and quickly saw the value of establishng it online. They had to look at the ways offline credit card and debit card transactions took place and how to securely adapt them to the web. There were many attempts and trial and error but year after year there were improvements and some major fumbles. At the end of the 1990s things had become less sophisticated and it became easier to do transactions online. That being said, the amount of money the web was making kept skyrocketing. Now entire major corporations could do online money transfers, collect sales, pay employees and more. Not only that but the average person could do so too. This afforded the web to really explode in profits and from there things just went exponential. Today we take for granted these online payment solutions and money transfer options as they're just a click away on your computer mouse. Everyone and their brother has a credit and debit card or more to do business on the web. Today parents an transfer money to their kids anywhere in the world in a matter of seconds and vice versa. Kids can send their parents money too. It's so common to transfer money that several companies have popped up over the past 10 years alone to accommodate this market. As people took part in these money transfer companies the companies themselves have become so popular that they're part of our pop culture.

These money transfer companies realize their importance and have accommodated clients to the point they even give out prizes, bonuses, discounts, even have pop culture commercials on television and on the web. People can't live without these online money transfer companies. They can easily get a MasterCard or VISA card in a few days of opening an account. These cards are accepted wherever the MasterCard and VISA cards are all throughout the world. The companies compete with one another for customers too. They can be found sponsoring bands, websites, outdoor concerts. Each company provides the basic needs such as the ability to buy and sell using the cards, transferring money to family, friends, and also to load money to and from your own bank account. Some clients have more than one money transfer company in case something goes wrong like downtime or some other unforeseen situation. They don't cost much and most have a one time a year fee that is only a few dollars if that. Some have message board forums where members can chat about discounts, deals and other ways to apply the cards and services. Some of the small and larger companies pay their employees this way. It's really opened the door to commerce like never before.

Just think of it, you beat those horrible bank fees, they keep your money out of the headlights of over regulation. Your funds can be placed in your bank account or your e-wallet as they are called from where you access your money via your card. It's just the best commerce solution to come along in years and without it there would be no mega corporations and other venues.

Most Popular Payment Systems

Now let's get on down to the most popular payment systems. There are several dozen to choose from and depending on which part of the world you're in you'll have your own favorites.

Alphabetically here are the top runners:

  • Liberty Reserve;
  • PayPal;
  • Moneybookers;
  • AlertPay;
  • Perfect Money;
  • Ukash;
  • Paxum;
  • Pecunix;
  • C-Gold;
  • SolidTrust Pay;
  • OKPay;
  • WebMoney;
  • LiqPay;
  • PayWeb.

You can see for yourself that there are new companies and many of the long standing money transfer companies like Western Union. They got in on the market and have been used safely and securely for years.

Now as you can read for yourself there are many of these companies that are located in countries around the world. Some cater to several areas of the globe at the same time. This allows for people to handle their affairs without restriction.

Of all the payment solutions the most popular is believed to be PayPal. PayPal is used mostly for such online venues as Ebay, the monster sized auction house. Ebay and PayPal go hand in hand and are the bulk of the online payment solutions industry. Yong and old and an international community use PayPal every second of the day. PayPal tries to accommodate every customer by providing an easy interface and covering all grounds of money transfers and business actions regarding money transfers and purchases, payments and more. Other companies follow PayPal's path because it's the 800lb gorilla of the online payment systems. They issue a card, VISA or MasterCard so that their customers can make purchases anywhere the cards are honored.

Now, PayPal may be the most popular but the oldest and boldest is Liberty Reserve. They do everything regarding commerce except walk to your door and give you money. They do card services, banking, transfers, gold buying, you name it. They offer merchant account services and hold the most strict of procedures to make sure your money is safe and your transactions secure. If you don't have a Liberty Reserve account you should get one. It's because they're so well ingrained into the commerce industry that you know you can depend on them 24/7. Like many of these payment processor companies they have SCI and API for development so that merchants can customize their sites. The best of these online payment solutions have such options and it makes for a better e commerce industry as a whole.

Now we move on to another super popular company called Moneybookers! You will be hard pressed to find anyone serious about online e commerce solutions. People just love Moneybookers and for good reason. It's so easy to use and their standard is accepted by just about everybody. Fans of Moneybookers are fans for life and anyone serious about online payment solutions should have a Moneybookers account without any argument. If you have Moneybookers you're more likely to interact with the other payment companies. Moneybookers is actually one of the first online money transfer companies you should have so you'll better know the market and more. Do not underestimate their service and the fact that you'll be in good hands with them. A great way to start doing money transfers and related venues online.

You've also got AlertPay that many webmasters use. They have bonuses that are very attractive too. Paxum is from Canada and webmasters choose them but their fees can be high when making purchases with your card. They'll charge you a dollar per purchase and that's why most people who use them use them only for business and transferring money. OKPay is a new kid on the block and go out of their way to accommodate new members. WebMoney is complicated but caters to the foreign market and gradually if you work with them things get easier.

If you take a look you'll see the old standards like Western Union and MoneyGram. They knew the value of getting online and providing services like these other companies do. If they hadn't they would have been overrun by the competition and probably would have been blown out of the water. Since they joined up into the online payment solutions they're popular because they're so well established in the mainstream and they still provide their standard services at real locations around the world.

Another up and coming popular company is WalletOne or known as W1. They are entertaining and professional with lots of options. C-Gold, PayWeb, Ukash are all popular and part of the trusted top 20 of online payment solutions.

That's another issue, the list here are the companies that stay out of trouble. They're the tried and trusted ones that not only provide good service but also have become the companies that people are enamored with. See that's the reason they're so popular because of not only reliability but because people come to rely on their specialized services and often camaraderie. You can actually find that the most popular of these companies have support staff that are not only friendly but go out of their way to be so. Every once and a while there's a glitch in an operation and having that successful and helpful support person can save one from disaster. The more popular payment solution companies know that and the ones that do are tops on the list.

The popularity of these online payment solution companies is not going to go away anytime soon. As a matter of fact with the expansion of tablets and smartphones they're becoming more popular. Here in is where these companies are becoming even more popular and we'll take a look at why.

The advances in web and smartphone and tablet technologies allow for more commerce to be done. You can set up accounts in no time and even set up your website's pay structure in just a few short minutes. The smartphones allow for more apps. These apps are being developed due to the API options of most of the webmasters use and with the companies themselves. They're going to go all out to come up with new and amazing ways for your to access, load, transfer, and engage in business commerce. You'll be seeing the top companies like PayPal and Liberty Reserve, Western Union, and Moneybookers with far more astonishing venues that will allow for really futuristic innovations. Much like the way people can use their smartphones for all sorts of money transfers thanks to the advances in technology we're talking about.

There's also your input as a customer. These companies have expanded because the customer base is allowed to add their own input. Even a small suggestion might accelerate into something major. It's now sort of like being in a club. Several of these online payment companies have online forums as mentioned above. There are even Facebook and Twitter pages dedicated to them. The top 20 online payment systems listed here are the ones that recognize not only the client's need to handle their payment solutions but to also grow with them, exchange ideas and work together to make each company more efficient.

This is how these top payment systems work and that's why they're so popular.

© – , updated 08/03/2023
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