External Service Providers

More and more people are losing their fear of online payment methods that come from third-party service providers, which offer countless advantages for both online customers and merchants. Store managers benefit from third-party payment processing, as debt management is the responsibility of service providers. Also, modern systems do not experience long delays in terms of payments made by customers and receipt of payments by merchants. In this way, orders can be delivered to customers more quickly, a factor that is even more remarkable in the case of digital property files such as music or electronic magazines, which customers can access instantly.

Payment service providers are very popular when it comes to micropayments, and while in the case of providers such as PayPal or Click Buy, online payments are made through a special customer account, other platforms such as SOFORT –which works in Spain since 2011– allow payment by direct transfer from a current account, which makes it possible to establish the connection between the online store and online banking. As a consequence, certain advantages and disadvantages arise:

Payment platforms with a customer account: in this type of online payment method, the providers of said systems, and not the merchants, are the only ones who have access to the sensitive data of the customer's accounts. Thus, the risks that unprofessional online stores can entail are reduced. Through the protection of buyers, PayPal, for example, makes it possible to have their money refunded in the event that orders are not shipped or are defective. However, the fact that the accounts created by customers are protected by passwords and access data means that they are increasingly in the crosshairs of Internet scammers.Direct transfer through third parties: in SOFORT, for example, the country and the bank in which the account resides are first selected. Thus, the system makes the transfer on behalf of the client and free of charge, but for this you must enter both the PIN and the code that authorizes it, which does not cause much enthusiasm among consumer advocates for security reasons.

Online payment - What is an online payment?

An online payment, in invoicing, is an electronic way (through the internet) to pay for the buyer and collect for the seller the invoice of a commercial operation.

The electronic payment system (hereinafter, online payment) is a payment method associated with electronic commerce.

This payment system, however, has also spread to the world of online billing and accounting for freelancers and companies.

What is the online payment of an invoice?

Cloud billing programs for freelancers and companies have evolved rapidly in recent years, to the point of offering their users online bill collection.

Any freelancer or entrepreneur can now offer their clients the payment of invoice online over the Internet, thanks to the integration of their billing and accounting software with platforms for managing payments over the Internet.

The result is that the self-employed or entrepreneur, by making an invoice and sending it to their client, can receive payment through these platforms.

In this way, the self-employed person and entrepreneur can integrate and control, from their billing program, the posting of an invoice with the bank transaction.

In addition, this type of payment method is an effective way to combat customer delinquency, since it has been proven that they take less time to pay bills by offering them the convenience of doing it online.

0