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Deciding which online payment method to use would seem to be a simple matter of picking whichever offers higher security.
"This is really fast, where a user can say, 'Tap, tap, buy.'" The fees from transactions will still go to existing financial institutions like credit card companies and banks, unless customers choose a new online payment method like Apple Pay or Samsung Pay.
Timothy Stranex, co-founder of South African Bitcoin exchange BitX, believes Bitcoin could be the first online payment method available to many people given the low credit card penetration, while he also expects uptake from merchants wishing to accept payments from foreign customers.
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For the problem of commercial websites, there is only a limited number of online payment methods, so ensuring a level of law enforcement that would deter subscribers would be a far more wide-reaching solution.
Online payment methods are old and in the way.
The prevalence rates for online banking fraud and other online payment methods generally are lower than for online shopping.
The U.S. Court of Appeals for the Federal Circuit ruled in 2003 that eBay's fixed-price auctions and some of its online payment methods violate a patent obtained by MercExchange.
Due to their size and reach, Alibaba and Tencent were able to turn their online payment methods into the de-facto standard for e-commerce in China.
Additional online sales channels and online payment methods will help the airline save on operational costs as well as improve the efficiency of capital investments, said Ma Xulun, China Eastern's general manager.
"As electronic and online payment methods continue their rapid growth, there is– and will continue to be – a critical need to identify and stop fraud in the global e-commerce, banking and travel industries," said CEO Alan Naumann.
Banks, VISA, Apple, Google, PayPal — every one of these monsters has good reason to be spending millions on a successor system to the holdover online payment methods we've had in place for 15 or 20 years now.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com