How Do You View The Evolution Of Online Payment Processors?

[Good-Guy]

When it comes to the world of online payment processors, the world has seen many ups and downs. In the past, no one would have thought that we would have been using online apps and online payment processes to send and receive money from people around the world. This is why I think that the world of online payment system have evolved a lot. In the past, people used to send money through different ways. For example, I have observed that in the past, people used to send checks. In fact, even many online money making sites such as Cash Crate used to pay people thorough checks. But now things have changed. Many companies are using online payment systems like PayPal and many other important payments processors to pay people around the world.

There was a time when online payment processors like Payza, E-Gold, and Liberty Reserve were also thriving but now they are defunct and they no longer exist at all. Those were really great days and these payment processors were used by millions of people. But when they got shut down, people became concerned. However, right now we have Bitcoin which is decentralized and now we are heading towards digital age. So how do you view the evolution of online payment processors?

 

[Holicent]

Online payment processors have come a long way in the last decade or so. The recent emergence of cryptocurrencies is just one example of how far we've come. Bitcoin is able to do transactions that, not too long ago, were thought impossible (and, some might say, still are).

But the evolution of online payment processors has been a very gradual process. It all started back in the 1970s and 1980s with credit cards. Since then, we have seen our options increase in number and quality. The first generation of payment processors was very rudimentary in terms of security, but they had what was needed at the time: an easy way to transfer funds from a customer's bank account or credit card company to the merchant's account. As more consumers warmed up to online shopping, there was a need for more sophisticated solutions. Payment processors stepped up and started offering added levels of security such as encryption of sensitive data and additional layers for authentication such as requiring a PIN number or CVV code from the back of a credit card to be entered during checkout.

Today there are many options for people to pay for goods and services on the internet, from debit cards to prepaidgift cards, to e-wallets like PayPal, Square Cash, Payeer, Payoneer, etc. We're always looking for new ways to exchange money online—it's what keeps us innovating. I perceive more coming.