BeeKash - A Global Payment Service Provider

A Catalyst For Alternative Payment Methods.

The UK e-commerce market is Europe’s largest and is set to reach £90 bn before 2020 (up from £60 bn in 2015). But while e-commerce grows, the preferred consumer payment mechanisms are changing. The Payment Services Directive 2 ( PSD2 ) will come into force in the UK (and the wider EU) within two years and will have a profound effect on retail and commercial banking . While new payment categories like PISP ( Payment Initiation Service Provider ) and AISP (Account Information Service Provider) will transform how consumers interact with their banks and third parties, they also hold the potential to transform e-commerce. A catalyst for alternative payment methods Today, credit and debit cards in particular are the preferred consumer payment method in the UK, with card spending comprising 63% of all e-commerce payments. However, according to WorldPay, alternative payment methods will see their overall share of transactions grow from 37% to 50% by 2019. The implementation of ...

Digital & Mobile Wallet System.

The current outlook for adoption of mobile wallets solutions may be a muted one, but there is hope on the horizon – if hardware manufacturers provide truly open and robust access to storing credentials and to interacting with the physical point of sale. One spur to more widespread adoption comes with the continued growth of the cloud as it enables access to all types of transactions across all devices across all venues. The mobile wallet is “more than just a payment method,” according to the white paper, which means that the stakes are high for both financial institutions and retailers, as they need to include mobile shopping in their basket of shopping and banking technology and payment options. The choice is a simple one: to innovate or be disintermediated. The quickest path is to link up in interoperable partnerships that will in turn lead to success at the point of sale. The in-store experience can be enhanced whether mobile wallets are used as part of a standalone pay...

Payment Method With Buyer Protection

Use a payment method with buyer protection Although debit cards ensure you are using your own cash to make a purchase, many do not offer the same robust buyer protection as other options if something does go wrong. A credit card or a virtual wallet option give you more flexibility when it comes to requesting a chargeback. A chargeback is when a transaction is reversed and a refund is given to you as the buyer. It can either be initiated by your bank on detection of fraudulent activity, or you can initiate a chargeback depending on the situation. Check with your bank for details. Another option that you might consider using to add another layer of protection is a single-use credit card number. These are tied to your regular credit card but provide a unique number to be used for one transaction so your actual credit card number is not compromised. This is particularly useful if there is a breach somewhere along the chain that might reveal your credit card details. Aga...

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