Popular Canadian online payment methods

0


[ad_1]

Widespread and reliable internet connections, coupled with state-of-the-art smartphones, have resulted in a dramatic increase in the number of Canadians who now use digital payment methods. It is estimated that Canadian online payment methods account for approximately 80% of all Canadian financial transactions. That’s a lot of people who use online stores and services. If you’re a Canadian and still thinking about which payment method to use to make payments online, we’re here to help. In this article, we’re going to take a look at some of the most popular online retail payment methods in Canada. Hope by the time you finish reading that you will feel ready to log on and use all the amazing ecommerce sites that await you.

Canadian online payment methods

Pay Pal

PayPal is one of the most popular electronic wallets around. Over the past 20 years, PayPal has cultivated a reputation for being secure and trustworthy. This payment service provider has more than 300 million users and provides payment solutions to more than 200,000 businesses in Canada.

PayPal in the casino and gambling industry

You can use PayPal for an unlimited number of online transactions. Online retailers and service providers who offer PayPal can be regarded as reliable and secure. PayPal only partners with companies that follow best business practices. PayPal casinos, for example, benefit tremendously from their association with PayPal, as players know that if PayPal has given a casino the go-ahead to offer their payment services, then that casino is likely to tick all the right boxes.

By using PayPal to make payments online, you add a layer of security to every payment. All you need to do is disclose your credit card or bank details to PayPal – when making a payment using the PayPal gateway, all you need to do is enter your PayPal password to authorize the payment. You can also use the PayPal gateway without having to have a PayPal account thanks to PayPal’s partnership with MasterCard.

Interac

Interac is an online payment provider intended exclusively for Canadians (this also means that you cannot use it to make international payments). Interac has been providing Canadians with a safe and secure method of transacting online since 2005. It serves as an intermediary to facilitate direct bank transfers. In a way, Interac works the same as an e-wallet in that your bank details are never shared directly with the online merchant. The big difference, however, is that Interac doesn’t hold any of your funds in an online wallet. As an Interac user, you will enjoy state-of-the-art, bank-grade security every time you make a purchase online. Each transaction is easy to complete and the speed at which the transaction is completed is remarkable. The Interac suite of services includes: Interac e-Transfer, Interac online, Interac Debit and Interac Flash.

Canadian online payment methods

Square

Square is the brainchild of Jim McKelvey and Jack Dorsey (Twitter fame). Their mission was to create a simple mobile payment processor that worked for merchants as well as consumers. Since 2009, Square technology has been downloaded and used by millions of small businesses. The software can be used by merchants to track inventory and sales, as well as to accept credit card payments. Payments can be processed using any mobile device, and Square also provides merchants with a POS payment machine. Customers can use Square to make quick payments for a wide variety of goods and services, and you can also use the Square Cash mobile app to conduct peer-to-peer financial transactions. Square does not charge Square Cash users a fee, and merchants must pay a nominal flat fee for credit card transactions. With the ease of use, low fees, and convenience of mobile payments, it’s no surprise that Square is becoming the go-to payment system for Canadian consumers.

Moneris

Moneris is a Toronto-based company that provides a payment gateway for Canadian small businesses. Moneris facilitates more than three billion financial transactions each year. The company is renowned for its security-conscious approach to payments. Moneris is dedicated to helping Canadian businesses grow and expand. For example, they partnered with Elevate to create eCommerce North, which offers a six-month acceleration program aimed at helping local start-ups achieve financial success. In addition to proving an online payment gateway and POS, their services also include the provision of sales and inventory tracking software. Consumers can use the Moneris Payment Gateway using a mobile device with the appropriate software to make fast payments at any retailer or service provider with a Moneris payment machine.

Conclusion

As a Canadian consumer, there are several reputable payment providers to choose from. In our humble opinion, e-wallets outperform the rest of the competition due to the level of security involved in each transaction and the fact that they offer a wide range of services alongside basic online payments. However, keep in mind that you don’t have to stick to just one online payment method. You can try as many as you want until you find the one that suits your needs and feel comfortable using it.

Other articles from mtltimes.ca – totimes.ca – otttimes.ca

large spiders seen in the west of the island

Very large spiders seen in the west of the island

Quebec-Ontario border closure

COVID-19: Quebec-Ontario border closure and what you need to know

[ad_2]

Share.

Comments are closed.