Payza eyes expansion

security and reliability of the payment processes in place, Broadcast Newsroom reports.

Likewise, many American Web users have had the experience of selling a product, or rendering a service, and receiving electronic payment. While online payment systems are mundane in the US, they are still very new in other parts of the world.

A new report suggests that, familiar as online payment may seem to Internet users in America, the technology is still in its nascent stage, only recently coming to developing and underdeveloped nations. A company called Payza, meanwhile, is seeking to expedite the process, and bring online payment capabilities to as many people, in as many nations, as possible.

The article notes that online payment is projected to grow into a trillion-dollar industry by 2016, a sign of just how lucrative, and how widespread, it really is. With that said, the article notes that online payment technology is still very new, or even unknown, to some parts of the world. The article notes the discrepancy by observing that more and more online retailers are focusing on mobile payment platforms, when only 25% of the world's population even has access to smartphone technology.

These findings have won the attention of Payza, which released a statement highlighting some of its own technological solutions to online payment issues, Yahoo Finance writes.

"With Payza's eWallet platform, we're able to tie into various mobile payment platforms to provide the necessary plumbing for e-commerce solutions in these emerging markets," the statement says.

In terms of its sheer reach, the Payza payment platform outclasses its competitors, offering easy transaction services to many countries across the globe - 190, in fact. In addition, Payza offers payment options in close to two-dozen different currencies. The company is widely known for its outreach to developing companies, and for its mission of bringing these nations into the "global village" through secure online payment options.