19Glossary of Cross-Border Payments — Part 4: Types of Payment Methods
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Credit Card Payment（信用卡支付）
Credit card payment is one of the most common electronic payment methods globally. Consumers use bank-issued credit cards to make purchases on credit, allowing them to pay the full amount later, usually at the end of a billing cycle, or in installments. Credit card payments play a crucial role in cross-border e-commerce, travel, and subscription industries.
Leading Brands: Visa, Mastercard, American Express.
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Debit Card Payment（借记卡支付）
Debit card payment enables consumers to spend funds directly from their available bank account balance. The payment amount is deducted immediately or shortly after the transaction and transferred to the merchant’s account. Due to its real-time nature and lower consumer debt risk, debit cards are increasingly used for online and mobile transactions.
Features: No overdraft, instant fund deduction, higher security.
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E-wallet（电子钱包）
An e-wallet is a digital payment tool that allows users to store card details, balances, or digital assets on mobile devices or web platforms. Users can make quick online purchases or offline contactless payments. E-wallets significantly enhance payment convenience, speed up checkout processes, and provide a better cross-border payment experience.
Popular Providers: Apple Pay, Google Wallet, PayPal, Alipay, WeChat Pay.
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Bank Transfer（银行转账）
Bank transfer refers to the movement of funds directly between bank accounts. It includes domestic transfers (e.g., ACH), international wire transfers (e.g., SWIFT), and newer formats such as real-time payments (RTP). Bank transfers are commonly used for large-value purchases and B2B cross-border transactions.
Related Services: SWIFT code and IBAN identification for international transfers.
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Cryptocurrency Payment（数字货币支付）
Cryptocurrency payment involves using cryptocurrencies (such as Bitcoin, Ethereum, or stablecoins like USDT) to pay for goods or services. It offers advantages like decentralization, lower transaction fees, and borderless access. However, price volatility and regulatory risks are important considerations for its adoption.
Common Use Cases: Cross-border freedom payments, NFT purchases, Web 3.0 in-app transactions.
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Installment Payment（分期付款）
Installment payment enables consumers to divide larger purchases into a series of smaller, scheduled payments, typically over 3, 6, or 12 months. These may involve service fees or interest charges. Installment options increase affordability and boost conversion rates, particularly for high-ticket items like electronics and luxury goods.
Types of Installment Models: Bank installment plans, service provider options (e.g., Klarna’s "Buy Now, Pay Later").
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✨ Pro Tip
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E-wallets and installment payments are emerging trends in cross-border payments, especially in rapidly growing markets such as India, Southeast Asia, and Latin America.
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Selecting the right payment mix in cross-border markets can significantly improve both conversion rates and customer retention rates.
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