The payment solutions that make today’s businesses stand out from the noisy crowd

The payment solutions that make today’s businesses stand out from the noisy crowd

In a world where more and more aspects of life are voluntarily and responsibly transferred in the online realm, it’s only naive to assume that businesses’ payment systems can timidly remain unimpacted. As digital payments could achieve astronomically $14.78TN globally by 2027, according to a recent Statista study, aspiring and existing e-store business owners alike will be hit with a harsh reality that’ll require new approaches and implementations in their organizations, namely that the payment system realm is suffering a disruption.

In a market of this fantastic size, boundless opportunities to pay for services and goods have arrived and gained traction, like direct debits, online payment systems, BNPL, cryptocurrency transactions, and the list can go on. For instance, if you think that checking the Ethereum price USD to see if it’s a good fit for purchasing a plane ticket with crypto makes isolated cases, you’re invited to think twice, because this technology expands by the speed of light momentarily.

Despite the trailblazing tech behind these payments, namely blockchain technology, there are numerous valuable reasons why both a business and a customer alike would dabble in crypto. The future of payments isn’t just digital but also decentralized in a reasonable proportion, an occurrence that allows for fee reductions and a reinterpretation of middlemen’s need for involvement in transactions. Similarly, businesses looking to thrive instead of staying afloat will have some work to do, considering that consumers want to be assured they can pay through numerous alternative options such as BNPL and direct debits, even if their debit cards are still the handiest option.

So, is your business open enough to meet the ever-rising needs and preferences of today’s increasingly demanding consumers? Or will the following flowering payment solutions pose difficulties to your enterprise’s infrastructure?


Seeing their popularity rise daily, digital currencies aren’t just for the futuristic enterprises anymore, but instead becoming commonplace and mainstream, developing new areas to be spent globally. Now, many individuals may be fooled to think that Bitcoin is the only feasible and reliable exchange method, given all the noise around this asset and its reputation as the harbinger of blockchain-based money. Still, the reality is that many other, fresh altcoins are being released and designed for payments. Ethereum, for instance, isn’t just the cryptocurrency that built new use cases on top of the tech foundation harbingered by Bitcoin, but also one of the most famous and well-founded systems to make transactions worldwide. This is just a reason why investors, financial experts, and other individuals familiar with the abundant crypto realm place large bets on its advancement or why around 245M of singular Ethereum wallets existed in September of last year, as per Techopedia’s January released study on the ETH adoption phenomena.

This decade, cryptocurrencies gained popularity among digital business owners for several motifs, among which one of the most predominant ones is the lack of tax or chargeback obligations. With the rapid advancement of crypto payments, large businesses and governments began interfering and building rules and regulations or creating their own digital currencies to combat the new flowering trend. Nevertheless, this payment solution holds firm and is still the boaster of the lowest fees in today’s perplex marketplace. Despite the perils of the governmental doubtfulness regarding digital coins and the challenges of fluctuating monetary value, cryptocurrencies remain promising for the modern business payment infrastructure.

Cash on delivery (COD)

Suppose you’re conducting business in the UK or the US, where the practice of paying for a service or good only after they’re delivered and not just ordered is appealing to more and more customers. In that case, you’ve likely come to terms with the fact that cash on delivery is inescapable. To emphasize the method’s popularity, it’s enough to understand that among prepaid cards, cash in advance, and vouchers, the COD system stands as one of the most used ones, being a reliable payment form for almost one in two UK consumers. The same trend has been poaching US consumers alike, who flirt with the idea of receiving their orders first before jumping with the money.

For some want to be guaranteed the quality of their orders before letting money fly out of their wallet, COD payments are expected to gain continuous traction, becoming an ace up the small business’ sleeve once they implement and adequately market their new, innovative, and consumer-oriented way of sealing deals. It’s also a handy alternative for consumers showing skepticism toward online payments or the whole delivery process, additionally opening possibilities for customers with poor credit statuses. The risks are also there, which is why you’re encouraged to learn the law surrounding this payment method by heart and make sure to treat this payment option accordingly.

Electronic checks

E-checks, or the digital version of paper checks with a twist, can only be processed online, making transactions and payments much faster. These enable buyers to allow payments instantly and directly from their mobile bank accounts, representing the first payment solution for North Americans’ online purchases. Nevertheless, many businesses worldwide are yet to configure their payment infrastructure suitably to permit e-check payments, missing in on a significant, untapped consumer category who’d be thrilled at the pros brought by this reliable payment tactic.

One of the most significant advantages to electronic checks is that they’re easily usable, permitting novices to learn their ins and outs quickly. Plus, they imply super-low charges, being touted as a highly lucrative payment option in more prominent sale volumes. Many are the benefits, so make sure to get in the know with this rising payment method before the year closes.

Buy Now, Pay Later (BNPL)

Klarna, one of the most advanced and famous services based on Buy Now, Pay Later (BNPL) systems, has introduced a new way of making payments that’s yet to gain merited recognition. BNPL systems allow consumers to buy and send money at a certain point in the future, often coming free of interest. More straightforward put, the structure behind this payment solution resembles short-term loans for consumers.

These work like credit cards, only that the consumer doesn’t actually need to possess such an account to reap this implementation’s benefits. For this reason, BNPL methods are growing by leaps and bounds and becoming increasingly popular.

So, how do you feel about today’s trending payment solutions, and are you prepared to implement some suitable ones in your business this year?