Definition: the payment method is the way a buyer compensates the seller for the goods or services they have purchased from them. Online shops have to decide which kind of payment methods they accept depending on their customers’ needs.
Kinds of payment methods:
- Credit/ debit cards
- Paypal/ Alipay/ Applepay
- Electronic checks
- Gift cards
- Bitcoins and other digital currencies
An example can be seen in the Zara website, where it shows the payment methods accepted by them.