A quick comparison of the benefits of a credit card compared to the e-wallet:


Credit card

  • Payments through the wallet are received immediately.
    Credit card payments are received by the merchant after 4 days on average.
  • Chargebacks on e-wallets are less likely as wallet ownership is subject to stringent KYC, blacklist, country of registration checks. Also transaction details are logged between the merchant and the customerwhich makes it simpler to prove the purchasers intention.
    Credit card payments are subject to potential chargebacks due to fraud and card misuse.
  • E-wallet transactions are logged as they occur and can be used to create reliable cashflow predictions.
    Cashflow projections can be difficult with credit cards due to chargebacks which can be instigated up to 2 years after the initial transaction.
  • The same data can be analysed by merchants using the e-wallet without the need to worry about chargebacks.
    Credit card purchases provide useful data which merchants can analyse to discover periods of high activity which can help with stocking and staffing requirements. Although the figures can be skewed by chargebacks.
  • 05
    Credit card purchases between £100 and £30,000 are covered by Section 75 of the consumer credit act http://www.moneysavingexpert.com/shopping/ section75-protect-your-purchases