In the wake of the financial crisis and with early signs of recovery, the payments market continues to go through radical transformation. AccountingWEB reveals the various payment methods and emerging technologies set to battle it out in the months ahead.
While cash and plastic dominate preferred payment methods in the UK, alternatives methods are on the up with shoppers and merchants alike.
Alternative payments are rapidly growing, and according to WorldPay, the alternative market is set to grow by 13% by 2015.
Businesses need to understand which payment methods are right for them, their customers and ongoing business model. To help, AccountingWEB has outlined the main traditional and alternative payment mechanisms for you to consider...
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- Bank transfers
- Direct debits
- Paper based
- Virtual currencies
- Credit and debit cards
- The future and changing behaviour