There’s one aspect of the internet that is seen to continue its growth. This is the online payment services that are getting better and easier through time. This has been a very useful innovation in the financial world which has transformed people’s lives, according to BBC technology commentator Bill Thompson.

The quick and convenient online payment system can change people’s purchasing habits without them noticing, said Thompson. Compared to filling out an online form asking for your credit card information, consumers would most likely choose to pay using an online account that allows them to just input the email address of the company or person whom they are paying.

This is the clear advantage of online payment services over banks and other financial institutions. Thompson said money here becomes an access key, instead of a token, enabling an individual to manipulate records in financial databases. Unlike banks that offer dull online banking and basic mobile services, online payment services are more functional and more useful to small and medium scale businesses that may need to pay only small amounts. Private individuals can also greatly benefit from this service especially when sending and receiving money to and from families overseas.

As for eBay’s blocking of Google’s Checkout online payment service on the ground that Google does not have a good track record in banking-related services compared to PayPal, Thompson sees this as only temporary. The BBC commentator says both online companies have different a target audience and they are both vital in the growth of the internet.