Payments Blog

Payment Types

Consumers have different brands of payments in their pocket. Some of these brands dubbed alternative methods of payments, have become a popular way for consumers to safely and quickly shop online. An alternative payment is often classified as a form of payment other than credit or debit card.  Merchants who offer additional payment options at checkout are able to capture more online sales by letting consumers select one or more preferred methods of payment they trust. Additionally, alternative payment options turn browsers into buyers from any device - PC, mobile, or tablet.

There are several different styles of payments that can be added to the payment mix.

1) eWallets provide an ease of use for the consumer by automatically storing all information needed to process a transaction on the consumer’s account. Therefore, they are not required to enter debit/credit card information every time they want to buy online. This alternative payment type is becoming increasingly popular with major retailers because of its convenience and efficiency. Also known as digital wallets, they can be used more easily on a variety of different devices, including mobile phones and tablets, and the growth is driven by younger shoppers.

2) Mobile is a newer and growing alternative payment solution. Instead of paying with cash, check, or credit card, a mobile phone is used to pay. These charges are then added to the consumer’s phone bill, creating a seamless experience for the consumer.

3) Online banking payment options redirect the consumer to their financial institution’s online banking website where they login and authorize charges. Once the charges are authorized the consumer is redirected back to the merchant’s website. Network communications take place on a private network to protect the consumer personal information.

4) The pre-pay cash option is a safe and trusted form of payment for consumers who shop online but don’t have a credit card, or don’t want to enter personal information. Different forms of cash option include prepaid vouchers and cards that are prefunded ahead of time.

Merchants wanting to sell more internationally need the brands and methods used by citizens of other countries.  Expanding types of payments used abroad increases sales.dditionally, there are specific international payment forms that are preferred by the international shopper depending on their location. e-Invoicing is a popular method of payment throughout Europe, where consumers purchase their goods online and receive an invoice for their purchase after delivery. Alternative payment types will continue to drive sales in the eCommerce/Omni Channel world as they represent both growth and opportunity to connect to a global market. Alternative payments accounted for 43% of all transactions in 2012 and are expected to climb to 59% of all transactions by 2017. The emergence of other payment types will continue to be influenced by the comfort level of the consumers as they look for different ways to purchase goods and services online. 

Cardinal offers dozens of secure payment methods and solutions for Omni-Channel businesses. Let us help you increase your sales by having the right methods consumers want to pay with and FutureProofTM your business.

Contact Cardinal to learn more! Click here:

Contact Cardinal

To learn more about how Cardinal can secure your payments and FutureProof your business, connect with us
 or check out our website 

Are you on social media? Be sure to connect with us on Twitter, Facebook, LinkedIn and Google + 


Posted by Ian Poole

Ian Poole is currently the Sales Engineering Director with an overall responsibility of Technical Sales, Market Analysis, and designing the implementation of market leading eCommerce and mCommerce solutions for new and existing Cardinal Customers. With more than six years of industry experience, Ian has been involved in many aspects of the Cardinal organization, including direct Customer support, managing Direct and Channel Integration teams, and working with solution design. He played a critical role when leading the Direct and Channel Integration teams as Cardinal expanded. Ian provides a balance between business and technology, and has played a critical role in showcasing how One Connection to Cardinal can FutureProof his Customers’ payment needs. Ian frequently speaks at industry events, in the US and internationally. Mr. Poole has a Bachelor’s Degree in Business Administration from Washington & Jefferson College.

Find me on: LinkedIn Google+

Sep 16, 2014 7:30:00 AM

Topics: CardinalCommerce, Alternative Payments, Payment Brands, Visa

Recent Posts


see all

Subscribe to our Blog