(EN) Module 3 – Section 3

Module 1
Module 2
Module 3
Module 4
Module 5
Module 6

Module 3 – Section 3

In this section you will find:


  • description of the payment systems currently used
  • introduction to new regulations
``Always design a thing by considering it in its next larger context – a chair in a room, a room in a house, a house in an environment, an environment in a city plan.`` Architect ELIEL SAARINEN
On the Shopify’s platform, about which you can learn more in Module 4, you will find a detailed picture of the payment methods proposed by the platform: a framework that outlines the different payment channels accepted in different countries, both in Europe and in the rest of the world.
On the Prestashop platform (demo version) you can check the payment systems proposed and compatible: from credit cards to payment on delivery or invoice, the choice is very wide and flexible according to the needs of the user and his customers.


Amazon pay Link: //pay.amazon.com/uk

Payment methods

In the design phase of an e-commerce activity it is fundamental to define the payment methods to be made available to potential customers, evaluating their pros and cons in relation to the purchasing habits and referring, firstly, to the issue of security. The forms of payment are varied. On this page you will find an overview of the most common payment methods for B2C e-commerce: the description of the different payment methods and a list of strengths and weaknesses.

It is a fast online payment method that allows money transfers between users, without sharing financial information with the recipient and serves as an electronic alternative to traditional methods of payment.


Advantages for sellers:


– No registration, maintenance or cancellation costs.

– Control of your sales and access to your transaction history from a single account.

– You can accept card payments, bank transfers and PayPal balance in total security.

– Wide international market with more than 150 million users.

Its functions are: single charge to credit card, recurring payments – automated charges that are made periodically for charges of consumption of products or services.


Paymill’s commission is generally lower than PayPal’s:

  • Paymill: 2.95% of the transaction amount + € 0.28 for each transaction.
  • PayPal: 3.4% + € 0.35 per transaction.


You need to keep in mind that Paymill’s commission is fixed and that of PayPal is in installments, if you have a high volume of sales, PayPal may be better. Drop your numbers.

Stripe is a payment method that allows your customers to pay by credit card in your online store, without the need for a bank to grant you a VIrtual TPV. This payment method will allow you to manage secure payments by card at any store in a few minutes in exchange for a commission per transaction. The only requirements are to create a Stripe account from your Palbin.com administration, fill in the registration form and associate an account number to receive the income.

It is the European market leader in the field of prepaid online payment methods. It consists of stock cards ranging from € 10 to € 100 that are delivered in the form of a PIN and by entering this PIN in the web store in the payment process is deducted from the balance of the amount paid.

Cash on delivery allows the customer to pay for the product when it is received. The payment against reimbursement allows the collection of an online sale at the time of delivery. It is perceived as a safe method among consumers who do not fully trust eCommerce, since they can also check the quality of the order before paying for it.

This means of payment is increasingly obsolete. It is normally applied when the web is new and you want to generate an initial confidence of the clients or in case of senior clients. The items sent this way must be non-perishable, since if the customer decides at the last moment not to pay, in addition to losing the shipping costs, the product would also be lost.

The cards are plastic payment tools issued by a bank that authorizes its bearer to use them as means of payment in the businesses connected to this system. The instrument that you will need for your customers to pay via this method is a payment gateway called virtual POS, which is the online version of the classic payment terminal that can be found in physical stores.

It is another one of the most popular payment methods, although less used than the previous ones. It is safe for both, the customer and you, and it does not imply extra expenses for your company. The customer makes a transfer from his own bank and must wait until you receive the confirmation that the transaction is completed. This means that it is a slower process than the previous ones, because it can take up to 48 hours before your store receives the money. After this time, you will make the shipment.

It is virtual currency that enables exchange of goods and services and it has very novel features:

  • Its biggest difference compared to other currencies is that it is a decentralized currency, nobody controls it.
  • Bitcoin does not have a central issuer like dollars or euros, the cryptocurrency is produced by people and companies from anywhere in the world.
  • Transactions are carried out on the Internet since it is an intangible currency.
  • The bitcoin code is open.
  • It has a high volatility.


Is it safe to invest in bitcoins?

The proponents of bitcoin argue that no organization or individual can control the bitcoin, but security companies warn against the possibility of theft of the code to any user or computer attacks against the exchange offices. Hackers design programs for that theft. Kaspersky analysts disclosed the identification of the CryptoShuffler Trojan, for example, designed to change the addresses of cryptocurrency portfolios of users in the clipboard of the infected device. Since the operations performed can’t be canceled and is anonymous, any data theft has no solution.

A voucher is a document that can be exchanged for financial discounts or discounts when buying a product and a gift card is a pre-filled card that allows the holder to acquire series of goods or services until the amount charged on the card is exhausted. These payment methods were originally created to be bought and given to another person, but many people buy them for their personal use. Gift cards consist of a prepaid method that provides an option for consumers who do not have a debit or credit card or who do not trust entering their data on a website. When you buy a gift card, you will find a code that, when entered on the online page at the time of payment, will work as a normal payment method. Shopify, is one of the platforms through which you can issue gift cards for your online business. These cards or coupons can also be used to reward your customers for their loyalty, it is one of the safest payment methods.

New prospectives

The European Union’s European Banking Authority’s (EBA) Second Payment Services Directive (PSD2) was published at the end of 2015. By 13 January 2018, all member states were required to implement the regulations. This directive has implications for all banking, payment, fintech, and online merchants throughout the EU.

There are three key purposes of PSD2:

– To open new market opportunities for a variety of players such as online merchants, while leveling the playing field for all key stakeholders

– To provide consumer transparency and consumer choice

– To introduce new and more robust security practices for online payments

– Of these, the one that we will focus on in this and two additional articles is the last one – new and more robust security practices for online payments. Specifically, this is called strong customer authentication (SCA).

The EBA notes: “Thanks to PSD2, consumers will be better protected when they make electronic payments or transactions (such as using their online banking or buying online). The Regulatory Technical Standard (RTS) makes strong customer authentication (SCA) the basis for accessing one’s payment account, as well as for making payments online.” While most PSD2 regulations are in effect, organizations have until around September 2019 to make SCA operational.


Source: //www.digitalistmag.com

This project has been funded with support from the European Commission. Information reflects the views only of the author, and the Commission cannot be held responsible for any use which may be made of the information contained therein.
For more information contact: projektai@paneveziodrmc.lt