Which payment system is the best?

2016-06-11 00:00:00

The development of the global network and the popularity of making money in the electronic sphere have led to an increase in the popularity of electronic payment systems, pay attention to how many of them only our Bitcoin exchanger works, and this is not all. Now, almost every network user has a wallet where you can transfer funds and use them to transfer to other users, pay for goods or services in online stores, to pay off debts, and so on. But which payment system is better? What criteria should you focus on when choosing? Which electronic payment system is suitable and will be the best for beginners?

 

Pros and cons of electronic money

Electronic money is gradually replacing cash. Every year, statistics record an increase in the turnover of electronic transactions, which gradually reaches the volume of operations with fiat money. What is the reason for this? Before deciding which payment system is the best, it is worth considering the general pros and cons of e-wallets.

Benefits:

• The ability to conduct monetary transactions online from anywhere in the world. The main requirement is a stable connection to the global network.
• The best payment system is distinguished by the security of transactions and money in the clients wallet.
• Convenient interface. Most of modern systems are organized in such a way that every beginner can figure out the procedure for depositing / withdrawing funds, making transactions, payments, and so on.
• Ease of registration. The registration time is minimal, which allows you to get access to the wallet and use the money in a few hours.
• Various options for replenishment. Most of the payment systems provide several methods of replenishment, allowing you to quickly deposit the required amount to the wallet and spend it at your discretion.
• Fast transfers. Money inside any payment system is transferred almost instantly. Exceptions are cases when transfers are made between different services.

Disadvantages:

• No matter how secure the system is, if the account details or passwords are in the hands of attackers, money can be lost.
• Inflated withdrawal percentage. All payment services make money by withdrawing funds from clients. The difference is only in the amount that is charged to the user.
• The risk of blocking the wallet. If there are complaints from other users or the use of fraudulent schemes, the user may be blocked. But this is, rather, not a disadvantage, but a means of protection.

 

How to determine which payment system is better?

When choosing the best option for making payments and storing electronic funds, you should pay attention to the following criteria:

Foundation year (work experience). Most of the popular systems were founded over 10 years ago. Which electronic payment system is better based on work experience? So, the Webmoney system has been operating since 1998. The service itself was registered in London, but the main services responsible for the systems performance (administration, support) are based in the capital of Russia.

The Yandex.Money system has existed since 2002. It is younger, but in terms of functionality and capabilities provided to customers, it is almost in no way inferior. In 2012, ¾ of the shares were sold to the Russian banking giant Sberbank.

PayPal - according to many users, the best international payment system, which is popular not only within Russia and the CIS countries, but throughout the planet. The system was founded in 1998. The country of "birth" is the United States of America.

The Qiwi payment system , which is now popular in Russia, was founded in 2007. This service was created to make life easier for users and provide them with additional options for making transactions, paying off debts, paying for services in stores, and so on.

Which payment system is better in terms of the year of foundation? According to experts, the year of creation can be considered only an indirect criterion when choosing. If we are to choose which payment system is the best, then it is worth doing it for a number of other aspects - security, convenience and ease of use. They will be discussed below.

Safety. From the standpoint of security, two services are famous for the greatest reliability - PayPal and Webmoney . Both systems are distinguished by several levels of protection, which exclude hacking of the wallet or theft of the users personal funds. Of particular note is the WebMoney system and its Keeper Classic client program. After installing the client on a computer and configuring security systems, an attacker on another computer has no chance of being hacked. The advantages of the system include the presence of a key file with a password, confirmation of operations via SMS, the availability of the E-Num service and other means of protecting confidential data.

From a security standpoint, Yandex.Money does not lag behind either . In addition to the main password, the user is sent a message with a confirmation code when making a transaction. If you hide the Yandex mail number from unauthorized persons and do not use information with a mailbox for correspondence (registration), then the risk of hacking decreases.

Certain criticism falls on the Qiwi wallet. If we talk about which electronic payment system is better from a security standpoint, then Qiwi loses to competitors. The reason is that the password in the system changes only a few times a year or is made permanent, and the login to enter is always a phone number. You dont have to have a phone to enter the wallet, but to carry out any transaction, you will still need to confirm via SMS.

Ease of use and convenience. The best payment system here is Qiwi. This was achieved primarily due to the large number of terminals located throughout Russia. In addition, to work in the system there is no need to pass authorization or confirm personal data. But later (if you do not go through this procedure), then the capabilities of the service will be limited. An important plus of the service is the issuance of its own payment cards (there are two options - virtual and plastic). Due to the large number of terminals, the issue of replenishing the wallet, transferring funds or making transactions does not cause problems.

There are a number of restrictions for users regarding online banking and cards. So, it is allowed to deposit money into the account from any credit card or debit "plastic". All that is required is to go through the card registration procedure. But when transferring funds from an unauthorized person, access will be limited. On the other hand, the system has a number of other advantages - an easy-to-understand and user-friendly interface, a large funds limit (as for a person without registration) - up to 15 thousand rubles, as well as small commissions for withdrawing funds (about two percent). Moreover, cash can be obtained without opening a bank account and without going through identification.

If we go further, which payment system is the best, then the second place should be given to Yandex. Money. The system has enough advantages - having its own cards, ample opportunities for users even without providing personal data. In addition, the system has a general withdrawal rate, which is 3%, regardless of the selected withdrawal option. In addition, this is one of the few services where there are no problems with transferring money into cash.

The most difficult thing for beginners with the WebMoney system. The problem is that most of the operations are inaccessible to users until they enter and confirm their personal data (obtain the corresponding certificate). As for checking the clients personal information, although it is free, it is a lengthy procedure. To withdraw funds to a bank card, you cannot do without linking it to your personal account. In addition, you will have to carry out a number of additional manipulations that take a lot of time.

The system also has advantages - it is more popular with online stores than competitors similar resources. It is difficult to find an online merchant that does not accept this e-currency. In conclusion, it is worth highlighting two big drawbacks - the lack of automatic conversion between currencies, as well as your own payment cards, which causes some inconvenience.

 

Which payment system is better?

Summing up which payment system is better, it is worth noting a few points:

• For beginners, the Qiwi system and Yandex are more suitable. Money.
• From a security standpoint, WebMoney is good.
• In terms of usability, Qiwi is in the lead.
• PayPal is suitable for international payments

As for the rest of the points, here everyone makes their own choice.