Payment Method: The Different Methods You Must Know

We propose to review the main existing means of payment and to observe the advantages and disadvantages of each of them. Also know about the Payment Trends Making Their Mark in 2023.

The Electronic Wallet

The electronic wallet (or e-wallet) is a system or application that allows you to make online purchases, make transfers and receive them from a computer, smartphone, or tablet. The user’s bank account funds it. When ordering online, your buyer needs to enter a username and password to validate their purchase. In recent years, several electronic wallet solutions have emerged. The best known remains PayPal, with its 10 million active users in France!

The Advantages Of The E-Wallet:

The fluidity of payment: the purchase process is accelerated because your customer does not have to enter his bank details; his username and password are sufficient.

100% dematerialized solution: your buyer does not need to have his credit card on him to finalize his order. He can therefore make his purchase at any time.

The Inconvenient:

High transaction fees: The commission charged on each payment by electronic wallet solutions is generally higher than for credit card transactions.

Frequent chargeback: the percentage of buyers who dispute transactions made via an e-wallet is higher than other means of payment, so the merchant must issue refunds more often.

 Mobile Payment: Contactless Payment

Mobile payment refers to all transactions with a smartphone, online or in person. The sum can be debited from the payer’s bank account, the telephone operator’s bill, or even from an electronic wallet such as Apple Pay or Google Pay.

Your payment terminal must be equipped with NFC technology to accept mobile payments in-store, just like contactless payments. Another lesser-known method is to scan a QR code on your customer’s payment app to collect the money. You can use a smartphone for this or your cash register system equipped with a compatible handheld shower.

If this payment method is beginning to make a place for itself in certain European countries, its use is still timid in France. Indeed, at present, only 12% of people use it. However, mobile payment has gained popularity in the face of sanitary measures and the rise of “contactless” commerce.

The Advantages Of Mobile Payment:

Speed ​​and convenience: when your customer pay for an online purchase with his smartphone, he does not need to enter his credit card information since it is already saved in his application. In-store checkout is also simplified since customers can pay contactless.

High in-store spending limit: contactless payments with a smartphone are limited to €300, compared to €50 for a bank card. Users have the option of setting their ceiling.

The Inconvenient:

The major drawback of mobile payment is that it still struggles to attract buyers. So many reasons are currently hampering the development of this payment method.


We hope that this overview of the main means of payment has been useful to you and will help you choose those that best meet your needs and those of your customers. Above all, keep in mind that if the expected payment method with E-Complish for example is not offered, one in two consumers will purchase in a competing store. It is, therefore, a real challenge for your business.

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