[Blog] Payment Systems

If you want to run an online shop, the right choice of payment system is often important for business success. Content management systems offer integrated and disintegrated options (see Magento / Shopify vs. WooCommerce)

The technical connections and solutions are designed for the provider of the form of payment (credit card, bank account variant – e.g. PayPal, instant payment). Furthermore, a lot revolves around the user-friendliness of the connected payment method, for the entrepreneur and for the shop user.

If, for example, the user’s payment data is stored in the background, the data is made available to the user when they make a new purchase, thus accelerating the check-out process. The basic idea is – the less irritation and the more familiarity the shop offers me as a user (past purchases, memories of my birthday with a shopping voucher, etc.), the stronger the bond with them is assessed.

How this storage and use of the data will affect the Privacy Shield agreement between the EU and the USA is still unclear.

It is clear that all corporate solutions (Google, Facebook, Microsoft, cloud services in the USA, etc.) have to be re-evaluated and, if necessary, replaced. But do we have adequate and competitive products in Europe? Will the ease of use and integration for the user of online shops change due to agreements that have been concluded?

Due to the illegality of many services and the necessary conversion of technical solutions, a new market has been created. Which companies will establish themselves here is in the stars. Whether there will be bridges with regard to the Standard Contractual Clauses (SVK), too.