the front of a bank

It’s very difficult to live in the 21st century without having an account with some sort of money transfer service. Any type of online purchase, from online shopping to Vegas casino online casino gambling, requires that you be able to move funds. Regardless of whether you’re opening your own online store or you plan to make online purchases of goods and services you’ll need an account with an online payment service. 

There are many different types of payment methods that operate via a PC or a mobile device. They include:

Credit and Debit Cards

Credit cards are the most common global payment solution which allows customers to pay online. Merchants can integrate a payment gateway into their business which gives them an opportunity to reach out to an international market.

Users generally set up a credit card account via their personal bank account which allows them to facilitate payments to and from their bank account to anyone anywhere in the world. Payments can also be made to a credit card account and the funds are then deposited into the user’s personal bank account for easy accounting.

Debit cards function in the same way as credit cards. The main difference is that debit cards only allow the customer to use money that’s in his or her bank account at that moment while credit cards allow the customer to draw on credit.  

Bank Transfers

Any bank that includes internet banking transaction options will allow customers to transfer funds to pay for an online purchase. The biggest advantages of bank transfers are that they allow the user to track payments easily via their customary bank statement. 

Bank transfers are also one of the safest forms of funds transfers. Each transaction must be authenticated and approved by the bank based on the client’s internet banking credentials.

Prepaid Cards

Prepaid cards are often used by individuals who don’t have bank accounts or who don’t want their money transactions traced. Users purchase their prepaid card at a kiosk from one of multiple values. The customer can buy a $10 card, a $20 card, a $30 card, etc.

Prepaid cards are favored by online gaming companies and their patrons who appreciate the ability to store the virtual currency on the card and then use it for in-game transactions.

Direct Deposit

Bank customers direct their bank to pull funds out of their account and complete an online payment in a direct deposit. These deposits are often set on a schedule and may include payments for large-ticket items. 

Cyber currency

Cyber currency, also called cryptocurrency, is a digital asset that functions as a medium of exchange. The value of the currency and the financial transactions facilitated with the currency are protected by cryptography that secures financial transactions, verifies exchanges and controls the creation of additional units.  

Each cryptocurrency’s decentralized control works through a blockchain which is a distributed ledger technology that serves as a public financial transaction database.

Cyber currencies are preferred by many people because they’re secure, carry low transaction and currency conversion fees and allow for faster transactions than those of conventional online transfers. 


An eWallet stores a customer’s funds and personal data. The user can then use the eWallet to make purchases from online stores and other vendors. Many individuals prefer to use an ewallet because sign-up is fast and easy and requires only a minimum of personal information be provided.

eWallets can function in combination with mobile wallets. When a user taps on an NFC terminal (near field communication) the payment is facilitated.

Pros and Cons

When you choose your preferred method of online money transfer, remember that each method carries with it some problems: 

  • Bank Transfers are often used by money launderers and scammers
  • Debit cards may expose your bank account to scammers who can wipe out your account within minutes. Debit Cards are also not as protected by law as are credit cards.
  • Prepaid cards and ewallets provide no buyer protections
  • The value of cyber currencies fluctuate wildly


Some of the most popular methods of epayment include:


WePay is an integrated payment gateway that allows native processing that promotes any business model. There are both debit and credit payments and options for daily, monthly and weekly payments.

WePay is preferred by many customers because sign-up requires only an email address, integrated payments are fast and simple and there’s complete payment risk coverage.


Skrill allows you to make international transactions and pay for services and products while being charged a relatively small fee (1% of a transaction’s value).  It’s also easy to link any bank account to a Skrill account so funds can be transferred to and from a land-based bank account via the Skrill account.

Skrill offers multiple transaction methods including credit cards, cash and email- transactions in over 30 different currencies. Skrill transactions are protected via anti-fraud screening features, that monitors all transactions to and from the user’s Skrill account. Skrill cards offer ATM service via and mobile access.

Coingate for Bitcoin

For cybercurrency transactions, a user needs a payment gateway to transfer funds to and from individual and services. Coingate enables altcoin transfers (in addition to Bitcoin, Coingate also facilitates cryptocurrency transfers including transactions of  Ripple, Dash, Litecoin, and Ethereum cybercurrencies.) 

Coingate specializes in optimizing bitcoin capabilities with automatic payment currency conversions that are based on the merchant’s preference. The platform also allows cross-currency transactions so the user can pay in one cryptocurrency and then accept payments in a different cryptocurrency.

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