The payments landscape continues to change rapidly. As fintech payments evolve, consumer payment with merchants needs to be simplified.
The consumer should have a seamless payment experience that is streamlined and an optimized regardless of payment channel such as payment terminals in a store, mobile game or app purchases or viewing premium digital content on a mobile phone.
Digital Payments have evolved from traditional cards, to crypto, and mobile seamless payment that bypasses conventional bank accounts.
Here are some methods of payment we have today:
- Direct debit and bank transfer
- Debit cards
- Relario PAY Seamless Payment
Direct debit and bank transfer: Consumers can pay directly from their bank accounts with direct debits or bank transfers.
Debit cards: Consumers can quickly use debit cards to pay for goods or services without having to borrow money, unlike a credit card.
Cryptocurrency: Consumers can use cryptocurrency to pay for goods or services using blockchain-based digital currencies. This technology bypasses conventional banking systems and does not require any standard banking protocols for international money transfer.
Relario PAY: Relario PAY’s seamless payment method allows merchants to offer payment services to billions who do not have access to bank accounts. The consumer does not need a bank account, debit card or credit card to make digital payments. All they need is a mobile phone.
Challenges with Conventional Online Card Payment
Consumers who wish to purchase online must authorize each transaction by their card network and their issuing bank. A checkout process that requires customers to make too many efforts to complete their purchase can lead to low conversion rates.
Consumers expect speed, convenience, security and acceptance regardless of the payment method. This is why relario PAY provides an extremely fast method of payment via SMS that provides a conversion rate of 10X compared to conventional online payments.
Learn more about relario PAY seamless payment API solution.
About Relario PAY
Relario AG, a fintech company based in Switzerland, is transforming the way payments are made for mobile gaming and digital content in over 100 countries and 300+ mobile networks with one easy-to-integrate API. Relario PAY has successful partnerships with some of the world’s leading Game Publishers, mobile network operators and OEM manufacturers.