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There are many kinds of third party payment platform, what to pay attention to when choosing

  • Life Style
  • Crystal
  • Jun 08,2022
  • 171

There are many kinds of third party payment platform, what to pay attention to when choosing

The Internet is constantly developing, so that people's payment methods have changed drastically, from the initial use of cash, to the subsequent direct credit card, to the use of Internet banking payment, and now the emergence of third party payment platform is only a few years. Due to the convenience of the payment platform, its penetration rate has increased, and many people are now using this payment method. Of course, even so, traditional payment methods have not been abandoned, but rather coexist.

A wide variety of third-party payment platforms

Careful citizens may find that there are many different third party payment platform in the market, each with its own characteristics, and different offers are held regularly to attract more new users to install and use them. However, too many platforms may cause users to have difficulty in choosing, mainly because they do not know which platform is more suitable for them, which is not a good thing. What do I need to pay attention to when choosing a payment platform? You may want to learn more about it.

How to choose a third-party payment platform

First of all, a third-party payment platform must be licensed, both in the Mainland and in Hong Kong. Only licensed organizations can start their business, and the risk of leakage of personal information and account information will be greatly reduced. Secondly, third-party payment platforms have different functions, for example, not all of them support cross-border payment functions, so if you have a need for such functions, it is recommended to understand them clearly in advance.

Real-name authentication is required for third-party payment platforms

Before using a third-party payment platform, users are required to undergo real-name authentication, which is considered by some users as an infringement of personal privacy due to the need to upload personal ID card information and conduct facial recognition. However, in fact, the payment platform's initiative is to help users protect the security of their personal property, plus fill in the phone number left in the bank, each transaction to ensure that the person is the so-called, when there are abnormal transactions can be the first time to detect, reduce or even avoid property losses. If you are not sure, you can add a floating watermark on top of the uploaded ID card to indicate the purpose, so as to avoid being exploited by unscrupulous people.

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What sort of payment platform would that be?

PayPal is one of the most popular instances. Bluehost, SiteGround, and A2 Hosting are among more less well-known options. Numerous small businesses rely on this method of payment because it is simple to set up.

Who handles the most transactions?

Most significant credit card processors Processing business Year of founding Processed transaction volume, in billions2 International Payments 2000 10.7 7.3 Wells Fargo 1852 8.5 Bank of America, 1969 Elavon 1991, section 3.

Shopify: Is it a third-party platform?

Considered to be a third-party marketplace is Shopify. This is so that businesses may sell their goods and services using the platform that Shopify offers. Although Shopify is not a marketplace in and of itself, it does permit companies to sell through its system.