a short guide to payment preferences around the world

As we know, global e-commerce promises huge opportunities for merchants but, as is often the case with buried treasure, there are many challenges to overcome and no clear map to follow. One of the most overlooked but important of these obstacles involves online payment methods.

Online payment is pushing hard to become most people's preferred payment method currently, driven in large by increasing smartphone adoption in lives. Online payment had offered us a good deal of convenience and security, However, not all online payment systems are equal and most people are getting confused a lot about how to choose a right payment option.

The latest research indicates that 68 percent of consumers have abandoned an online retail site due to its payment process. Almost half of them chose not to complete a transaction because they weren't offered their preferred payment option.  Here's a look at the major payment options out there and how they work:

1. PayPal

The eBay-owned payments company is pushing beyond the virtual world into brick-and-mortar retail. One version, in use at Home Depot, allows PayPal account holders to purchase goods by tapping in their phone number and a PIN code at payment terminals. A newer version involves the customer "checking in" on a PayPal app when they enter a store that accepts the payment system. That action alerts the store to your presence and paying is as simple as telling the cashier you want to use PayPal. The check-in action transmitted your presence and account details to the store, so the cashier just needs match the charge to your account. The app is available on Android, Apple and Windows Phone.

2. Apple pay

Apple (AAPL.O) has made mobile payments look easy, after a decade of mostly failed experiments by banks, telecom operators and retailers to woo consumers away from cards and cash.Apple Pay allows consumers using new Apple phones, tablets and smartwatches to buy goods by simply holding the device up to readers installed by store merchants. Its potential global customer base is huge: the 800 million Apple users who have already connected credit and debit cards to iTunes accounts.

3. Alipay and Epay global payment

Alipay dominates online payments in China, claiming 60 percent of market share. This platform recently launched a mobile wallet application, offering online-to-offline payments.Epay global payment is another popular payment service provider from China, enabling comprehensive payment services like mobile payments via SMS, internet banking, At the same time, international money transfer and e money exchange with the help of their mature and stable partner exchangers are also available. Above all, it's free to pay and get paid via Epay global payment just in seconds, and almost all the countries around the world are accepted!!

4. Google Wallet

Also based on wireless NFC technology, Google Wallet appears similar to Apple Pay, but it's a little different behind the scenes. When paying with Google Wallet, Google assigns your phone a MasterCard number. It exists only in your phone -- you don't receive an actual card, and you don't have to go through a credit check. When you pay, the retailer gets that MasterCard number and Google immediately charges your chosen credit or debit card for the same amount. The two-step process, which is invisible to the user, means any U.S. debit or credit card can work with Google Wallet. It also means the retailer never sees your actual card number, which makes it more secure, but also means that Google can see every purchase you make.

In addition, samsung pay, CurrentC and something else like Softcard are also popular payment systems which most people will take into considerations.