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Alibaba also moved into the online payment space with Alipay, helping allay customers' concerns about the trustworthiness of sellers.
Bitcoin is the "underground" digital money system that's fueling growth and disruption in the online payment space.
Leading the person-to-person online payment space right now is PayPal, the service used by most online auction participants that already has 4 million accounts.
The next double-digit billion dollar opportunity in Southeast Asia e-commerce is the third-party online payment space.
While Paypal dominates in the online payment space in the U.S., AliPay is the strongest contender in China.
While there's lots of competition in the online payment space, including major players like PayPal (2015 revenues $9.2 billion) and Stripe, YapStone's focus on certain large, niche markets has given it an edge.
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Of course eWise faces competition from PayPal, which is a giant in the online payments space.
It's no secret that Accel is making major investments in the online payments space, funding both Wonga and e-payments company Yapstone.
Facebook also made a much publicized entry into the online payments space back in 2015, enabling peer to peer payments via Messenger.
It's ambitious to take on PayPal in the online payments space, considering the reach that the eBay-owned company has already.
While Google's payment system, Google Checkout, is not a giant in the online payments space, it is certainly not a failure, especially when compared to some of Google's other product extensions.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com