Examples of online payment systems include PayPal, Google Wallet, Amazon Payments, Dwolla, Stripe and WePay. These systems serve as electronic alternatives to traditional payment methods such as checks and money orders, enabling users to send and receive electronic payments for goods and services from anywhere in the world. The systems allow users to make ACH transfers and operate merchant accounts that facilitate sending and receiving of payments through credit and debit cards.Continue Reading
PayPal is one of most widely used online payment systems as of 2015. It allows users to make payments via existing bank accounts or credit cards. The system also accepts check payments through smartphone cameras or card swipers.
Google Wallet is the Google version of PayPal that requires a money transfer and a Google Wallet card. It allows users to pay for goods and services through accounts connected to their Google accounts free of charge.
Amazon Payments is a subsidiary of the Amazon.com online store. It allows users to make payments using Visa or Mastercard.
Dwolla securely connects with most U.S. bank accounts and credit unions to facilitate online account-to-account transfers. Setting up a Dwolla account is similar to PayPal, although Dwolla does not have the name recognition feature present in PayPal.
Stripe is an excellent payment system for Web developers who want to integrate a payment system into their projects. The system allows users to develop payment forms that bypass PCI requirements.Learn more about Personal Banking