Online Banking: KBC/CBC Online, ING Home’Pay and Belfius Direct Net, SOFORTBanking – 8%Ĥ. Visa – 30%, MasterCard – 20%, American Express – 2%)ģ. Bancontact/MisterCash (local alternative payment method – simplified online bank transfer) – 32%Ģ. iDEAL (local alternative payment method – simplified online bank transfer (SCT)) – 56% marketshareĢ. Globally, bank credit cards, particularly VISA and MasterCard, are the leaders.ĮcommerceWiki Report, based on several sources including publications by Payment Service Providers, news websites and ecommerce shopping associations, gathered the most relevant payment means in Europe:ġ. and Visa Europe, which became a single company in June 2016. Debit figures shown here include prepaid cards. These transactions include all commercial and consumer credit, debit and prepaid products. And there are local payment instruments, holding the second, or sometimes the first place in the preferences among buyers and sellers of a certain country.Īccording to the Nilson Report, May 2017/issue 1109 Visa, Union Pay, MasterCard, JCB, Diners Club/Discover and American Express brand general purpose cards generated 257.17 billion transactions at merchants in 2016. There are global leaders virtually equally popular worldwide. The popularity of each means of payment varies from region to region and from country to country. Accordingly, the more transactions the payment company handles, the more money it earns.Ī beginner payment service provider (payment processing company) might want to start with offering their potential customers to accept online payments made with the payment means most common in the countries the payment service plans to provide services to. Electronic money, cryptocurrency, prepaid vouchers, SMS payments, bank transfers, electronic checks and, of course, bank payment cards are the most popular means of payment used with a certain activity rate for transferring money from Internet buyer to Internet seller.Ī Payment Service Provider that helps online merchants accept payments via the Internet, charges either a flat fee for each transaction, or a certain percentage of its amount, or both. There are a number of payment means in the world to pay for goods or services via the Internet. What means of payment to work with (integrate). How to start a payment processing company. In fact, this instruction covers all frequently asked questions start-ups usually ask us. Having 13 years of experience in managing and creating payment systems and services, our company decided to create an instruction for beginners with basic steps to start a payment business. While the motivation to create a payment service is no problem, there may appear quite a few questions on where to actually start a business of online payment acceptance and processing. It is especially true for emerging markets, while they are not yet occupied by major payment service providers. Thus the market creates enough space for successful and profitable activity, not only for major payment processing companies, but also for beginners. The market is expanding thanks to the constant flow of commercial, non-profit and government organizations selling their goods and services online. The demand for online payment acceptance and processing is growing steadily worldwide. So you’ve decided to engage in the business of accepting online payments (to start a payment processing company).
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