How does the online Payment works in Ecommerce business

Ecommerce business

Ecommerce and Online Payments are getting really popular nowadays. All this is now possible due to various electronic payment systems suitable for online transactions as well. So called electronic money are becoming more and more popular within these days due to them being spread widely around the world and being easily accessible.

With the help of this system a lot of online shops can work and allow the customers to purchase goods directly through the web. Long years of B2C transactions showed the security of this way of payment. At first people didn’t trust this kind of service much, as they were afraid for their private data to be revealed due to the viruses, trojans or just as an accident.

Still now a lot of customers use their credit cards to make the online orders. The internet-based banking is also possible and quite popular, with it you can cope with your money without actually leaving the room.

The latest researches showed the citizens of different countries have different opinion about Ecommerce and Online Payments.

Online payment options

#1 Credit card

Credit cards have become a popular method of collecting money from buyers. The buyer only needs to add their card number, expiration date, card name and a CVV number on the back of the card. You can save the details of this card for your buyer to facilitate future transactions faster. After the details are given, your customer will be asked to enter their one-time password by sending their phone / email ID. These measures are designed to ensure security and protect customer details. For bigger online payment credit card have lots benefits.

#2 Debit card

Just like a credit card, payment through a debit card follows the same process. The only difference is that with a debit card, the buyer pays directly with the money present in their bank account, and with the credit card benefits they spend at the end of the billing cycle, which can be 25-30 days.

#3 E-wallet

E-wallets such as Paytm, Phonepay, MobicWick, FreeCharge etc. have recently appeared in the film. Your customer can use them as a digital wallet where they save money and use it to their advantage. You will see their emergence after demonetization in the country. This approach has facilitated digital Ecommerce market and drastically reduced cash usage. Even Amazon has launched its Amazon wallet with the name Amazon Pay! Therefore, you can connect with this provider and give your buyer the option of paying with their wallet.

#4 Net Banking

Using Net Banking, the user can pay for his transactions directly from his account without his debit card. You redirect you to the user’s bank website where they enter their login credentials, such as the login ID and PIN, after which the money is deducted directly from the customer’s bank account. This is a quick and easy option that can make your website easier for buyers to process.

Think wisely and decide on the way that works best for you! You don’t have to keep them all, but the more you try and get involved, the more options you can offer to your customers.

The inhabitants of Britain do not trust this new way of commerce, so barely of ten people does any shopping online. They prefer to go shopping in real, so that their data will not be accidentally or purposely exposed or used in any unauthorized way. On the other hand those who live in USA are regular users of the Ecommerce and Online Payments. Due to the big distances they tend to use the online service. There is some valuable payment method for online payment by using ecommerce website.

There are a lot of special systems available for paying online. You can use the traditional credit card, debit card or even the special charge card; still there are a lot of new ways like digital wallets, mobile payments, e-cash and e-checks as well.

Do not miss your chance to do luxury shopping on your PC screen. Purchase online!

Ganesh Kolekar
Ganesh Kolekar is a graduate and geek. He is the man behind keeping the quality of the posts and manages the content part on the website.

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