Online sellers reveal preferences for online payment services

Monday 8 September 2014 00:33 CET | News

Payment service providers Stripe, Square, Amazon Payments, and PayPal still hold the lead in online payment choices, a recent ranking done by online sellers reveals.

According to online media outlet, Stripe came in first with an overall score of 8.05. Square ranked second with a score of 7.65, followed by Amazon Payments (6.99), PayPal (6.97), ProPay (6.82), and Skrill (5.25).

Compared to a research conducted in 2011, when less than one-third (28%) took credit card payments, in 2014 almost half (47%) accept credit card payments, a number that is up from 39% registered in 2013.

Almost 60% of respondents accepted cash payments in 2011, that number dropped to 52% in 2014, though still a significant number, especially compared to the only 6% who said they accept a mobile payment service.

Online payment services providers have been rated based on five criteria, namely fee structure, dispute resolution process, account holds, rolling reserves and restrictions, popularity among customers (buyers) and customer service.

The type of payments sellers accept vary according to the venue on which they sell. Not only do marketplaces place restrictions on which payment services sellers can offer, ecommerce platforms and shopping carts also have limitations on the services with which they integrate.

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Keywords: online payments, Stripe, Square, Amazon Payments, PayPal, credit card, cash, mobile payments
Categories: Payments & Commerce
Countries: World
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Payments & Commerce

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