Alternative Payments: A Growing Trend

Credit cards have traditionally been the “go-to” payment method for online purchases. However, fears over identity theft and dissatisfaction with the “buy now, pay later” model have an increasing number of people turning away from online purchases that require payment with a credit card. Additionally, many people can’t pay with a credit card because they are under age or cannot get credit. As more and more consumers venture online, many are looking for new, more secure payment options. All of this adds up to one thing: you need to offer alternative payment methods.

As an example, almost 20% of online users say they use a debit card more now than they did one year ago, and close to 75% of all online buyers now have an eWallet. But even with those numbers, eWallets are only the tip of the iceberg, with many alternative payment options available to consumers like prepaid cards, online bank transfers and cash voucher payments. And while credit card use is poised to decline, these alternative options are growing, with preferences varying from region to region.

EWallets

Providing peace of mind for both consumers and merchants, eWallets are one of the safest and quickest ways to pay online. With already more than 100 million consumers using eWallets worldwide, this option is set to become a leading payment solution. EWallets protect important financial information by acting as a financial firewall between the consumer’s bank account and the merchant, allowing merchants to capitalise on customers who are unwilling or unable to use credit or debit cards on their sites. Customers can also benefit from eWallet payments because they are instant, frictionless, international and available in multiple currencies.

The NEOVIA Payment Network

To get streamlined processing capabilities that keep businesses profitable and competitive, thousands of enterprise-level merchants choose to partner with NEOVIA Financial.

With the NEOVIA Payment Network you can get:

 A secure payment gateway for card and non-card processing
 An eWallet with 100% chargeback protection and built-in loyalty programs
 Multiple real-time banking options
 A competitively priced merchant account service
 Flexible settlement terms to give you the best possible offer
 Fraud monitoring and prevention tools to protect you from bad debt
 Total back-office control with real-time reporting tools
 Total PCI DSS compliance
 FSA regulated services

NEOVIA’s NETBANX division provides secure online payment gateway processing with the widest ranges of card and non-card payment options on the market with local deposit options like giropay and iDEAL, and eWallets like NETELLER and PayPal. The NETBANX gateway also covers a range of payment channels like online processing, Interactive Voice Response, mobile payments and MOTO (Mail Order/Telephone Order).

For more information on the NEOVIA suite and to speak to a payment expert, contact sales on +44 1223 44 6040 or email sales@neovia.com.