There are people who do not trust online payments when they actually use electronic payment methods often. It is difficult for those who are used to paying in cash and using other traditional methods to make the switch to using advanced payment methods.
Traditional payment methods
There was a time that one of the ways to make a payment transaction was to go to the establishment or to a bank. To pay, you would have to fall in line and make an over-the-counter payment after filling up the form. That process takes a lot of time.
Paying by check was another popular way to pay. The details have to be written down on the check, and the checkbook has to be balanced. The need to balance your own checkbook was because you cannot know immediately how much you have in your account unless you go to the bank.
Checks were used to also establish a credit line. Sometimes, checks are post-dated so it can only be deposited on that date. Checks may also be crossed or have a marking that it is for deposit only. When it is for deposit only, if the check is not issued by the same bank, it would around three days before it is reflected in the account. If it is the same bank, it would still take about a day to be credited to your account as there is the processing time.
When paying using checks, it is vital to balance the checkbook and to keep note of what checks are going to be deposited on a certain date. When checks bounce, the bank will charge high fees. Usually, when the account holder has around three bounced checks, the account will be closed. Checks will bounce even when the account is missing just a penny. No one in the bank can or will add money to your account to save the check from bouncing due to lack of funds. The problem occurs because many people forget that they have a check coming in on that day or did not get to balance their checkbook, among other reasons.
Online payment apps
Nowadays that we have online payment apps, we know how much funds we have, down to the last penny. There is no need to balance a checkbook. It is easy to add to our funds before making payments as we can do so using our other financial accounts or even make a cash deposit using an ATM or other similar machines. With just using your fingertips, you can complete an online payment transaction without having to fall in line by using your mobile device. You may also use contactless terminals to make a payment when you are at physical stores.
There are millions of people who still use cash to pay. They are accustomed to doing so and do not trust online payments. There is a learning curve for using mobile devices to pay, and though it is easy, there are many who would stick to the traditional payment methods, as they are comfortable with this manner.