As the trend in technology arise, many systems nowadays had been upgraded into electronic and digital applications. One of which is the payment via online system.
The payment via the internet comprises of different methods in collecting money over the web. Online marketing and businesses are usually the one who make transactions and making money collections from the buyers.
Moreover, there are various count of payment system that are already available in the online market. The key here is providing the purchasers and the merchants their greatest interest. It is always to make the internet payment system the safest and most convenient possible means.
With just a minimal amount of entry in the cyber world really attracts various small and big businesses. Their all getting their businesses online for the purpose of selling. And they always make it convenient and safe for their online buyers.
In a retail store the buyer has the options to select number of payment modes. Such includes cold cash, check payments, debit and credit cards. However, online purchasers are also experiencing the similar payment schemes.
Different Online Payment Scheme
1. Credit Cards
This is the most common payment mode utilized by online buyers. Moreover, as per both purchasers and sellers, this online payment method is one of the convenient means of payment.
Generally, online payment via the credit card involves the credit card company or the bank as the third party. They assist in avoiding fraud issues. Because of this, online purchasers are very confident in using credit cards in online payments.
2. Smart Cards
This card looks like the credit cards. The microchip imbedded on it serves as the information storage. It also records the transaction history of amount deposited and withdrawn from the card.
The use of this card are already populating the online market. It is used in purchasing various online goods, services, and even online games. One example of which is the shark card that can be utilized in purchasing online games through a shark card codes.
3. Digital Cash
This is like a wallet that contains electronic currency. It is like a debit card where one can save money into the online account. This method of online payment is very much applicable in buying items of minimal amount.
4. Electronic Checks
Using this mode of payment is allowable for small online merchants. Customers are required to enter all the information of the check in the provided web page.
Issues in Using Online Payment System
The primary issue that affects the online payment schemes is the security and privacy of the information of the customer. All data, whether financial or personal, are sent over the web.