Online Payments

It’s true that things are much more different in the payments scene than they were even four years ago. Look at China, for example. Mobile ecommerce payments have taken the country by storm, all but replacing cash and credit cards. Instead of having certain businesses not accepting card transactions under a certain minimum or requiring cash outright, mobile payments in China are quickly becoming the status quo. Citizens scan QR codes and pay with apps like WeChat or Alipay to pay for food, transportation, and other everyday necessities. This preference for mobile payments is creating a ripple effect in neighboring countries like Japan, as vacationing Chinese citizens increasingly prefer to pay with their phones. “Mobile pay is growing so rapidly in mainland China that as a foreigner I sometimes found it difficult to complete basic transactions without it,” writes journalist Evelyn Cheng, going on to outline her difficulties purchasing items at a McDonald’s and paying for a cab with cash. But Cheng also notes some concerns with this widespread system of mobile payments, namely privacy.

With this in mind, merchants who conduct business online need to ensure they have streamlined, secure end-to-end payments infrastructure in place. The continued push toward online and CNP payments means merchants must partner with trusted merchant service providers to keep their customers happy.