DebitWay.ca On Twitter

Online Payment Service Processing Fun Fact #6

How Many People Shop Online

Online Shopping PaymentThe Earth has a global population of roughly 6.5 billion (and growing… of course).  Of the 6.5 billion earthly denizens, it is reported that 27% of them do in fact shop online.

In case math is not your strong point, allow me to simplify this for everyone. 27% of 6.5 billion is (roughly):

1,755,000,000

“1/4 of the world populace go somewhere to shop…  good enough reason for me to open a store there.”

Ask DebitWay Payment Service questions We are here to Help

De-Mystifying the difference between IOP and DDT

Recently we have been asked to clarify the difference between two of our more prevalent payment services:

Direct Debit Transfer (DDT)

&

INTERAC® Online Payment (IOP)

In the hopes for clarifying any misconceptions and de-mystifying the subtle yet immensely important difference between these two payment processing methods I will start first and foremost with the cruxes of the disparity between both debit transfer payment services.

IOP is a debit payment service that services CANADIAN consumers.

DDT is a debit payment services that services consumers the world over.

While this decidedly invisible discrepancy (invisible to those on the purchasing end) may seem inconsequential to consumers whose sole interest is the purchase and payment of their desired goods and of little relative consequence to electronic merchants whose sole interest is the ability to receive payment for the goods or services they are providing, it does bear mentioning.

DebitWay’s Direct Debit Transfer payment option is comprised of a world wide network, IOP is one of these payment options that help DebitWay service the world with guaranteed, real-time debit transactions.

Transferring cash (which is essentially want a debit transfer is) is contingent to s slew of committed pieces all working together in harmony;

  • The issuing Financial Institutions
    • Be they Bank
    • Be they Credit Union
  • The Receiving Financial Institutions
    • Be they Bank
    • Be they Credit Union
  • The Delay in Confirmation that the requested funds
    • Are readily available
    • Have Been transferred
    • Have been received
  • The number of Financial institutions “subscribed” to online Debit Transfer services
  • The Payment Service Provider having instilled the proper security measures
  • and the list can go on and on…

While there is no tangible difference to these services, it must be noted that one is Nation exclusive and the other is Global.

As far as the online merchant is concerned the payment processing remains the same; cash in real time that is not subject to reversals.

As far as the customer is concerned, once again there is no tangible difference that he or she will notice.  The end result remains the same, a safe and secure online transaction using your bank card for a direct debit transfer.

Canadian consumers have long trusted the safety of transacting with INTERAC®, be at a POS (Point of Sale) terminals or via an online site that processes card not present transaction requests (which essentially encompassed all online card transactions, be it debit or credit).

DebitWay’s Direct Debit Transfer (DDT) is looking to instill that same sense or permeating trust, in online transactions that INTERAC® has done in Canada, but with DDT, DebitWay looks to replicate that sense of online transacting peace of mind the world over.

For More information concerning DebitWay or DebitWay’s payment processing gateways and services, you are invite to email us at: social@debitway.ca

 

Interac and the Interac logo are trade-marks of Interac Inc. The Interac Online Payment service is owned and operated by Acxsys Corporation

Online Payment Service Processing Fun Fact #5

Most Popular day for eShoppers

Online Shopping DayWhen asked which day of the week is the most popular amongst online shoppers, one may immediately say Friday or Saturday.

In fact I would venture to say that most people would answer those two days when asked which day is most populate with online transactions.

You May be surprise to hear that the day of the week most prone to indulging online transactions and eShoppers is MONDAY.

“Nothing like Starting the Week on the Spending Foot!”

Ask DebitWay Payment Service question We are here to Help

Online Payment Service Processing Fun Fact #4

What Country Spends the Most Time Online

Spend OnlineIn 2011 the great Hockey Nation (Canada) help the dubious distinction of having its citizens spend the most time online, with an average of 43.5 hours online per month

Of course that was in 2011.  So who currently reigns as #1 in the world?  We are very sorry Canada, but you have lost your championship. The United States now Spends the most time Online

Sorry Canada, but you can take solace in the fact that you are a VERY close second!

“Idle Hands are the Devils Playthings…  At least they are busy surfing the net”

Ask DebitWay Payment Service question We are here to Help

Online Payment Service Processing Fun Fact #3

Which European Country Spends the Most Money Online

Most Online TransactionsThis may or may not come as a surprise to some of you, but the truth is that according to communications regulator Ofcom; the United Kingdom spends the most money online of all European countries.

Here is a link to the full article in case you want to see it directly from the horses mouth (so to speak). Click Me!

“God save the Queen…& the account balance’s of U.K.ers”

Ask DebitWay Payment Service question We are here to Help

Enter your email address to follow this blog and receive notifications of new posts by email.

Follow

Get every new post delivered to your Inbox.

Join 44 other followers