Lesson 3:
Online Payments & Banking

Online payments...

The growth of online shopping and other online financial transactions has spurred the use of online payment services. These are alternatives to using your credit card.

Many people who sell goods on auction sites or even some small businesses choose to use online payment services instead of merchant accounts.

Merchant accounts are required before businesses can accept credit cards, and the costs for these can be high. Online payment services could be free or have a relatively low cost in comparison.