With the online exposure increasing at a skyrocketing pace, digital payments are becoming paramount. E-commerce websites are preferred over physical visits to the shopping malls. Many online payment methodologies are available today to provide secure payment options.
In such circumstances, personal information becomes primary and needs cover. All the online ecommerce websites have enough secure financial transactions. These payment methods have characteristics such as convenience, availability and security. Some commonly used electronic payments are credit cards, debit cards, net banking, smartcards, digital wallets, techniques like like PayPal and Skrill, so on and so forth. Some e-commerce websites also accept payment gateways and then its PayPal, which is internationally acclaimed.
It is tricky to figure out which choice will ensure safety of customer details from dubious activities. The information supplied over internet is highly sensitive in nature.
Let’s infer on the secure most electronic payment method:
A payment gateway ensures that all credit, debit cards, electronic payments are adequately safe and processed for a secure transaction. An individual makes a purchase decision and inputs details to transfer money through payment gate. Money is transferred from the credit card, the product price is automatically subtracted from the bank and ultimately sent towards the seller. This marks the end of the financial transaction.
Out of all the popular names, CCAvenue, BillDesk, PayU,are the most talked about. E-commerce websites have their own payment gateway like Amazon.
These payment gateways are extremely safe and secure. A meagre amount is charged from retailers and merchants. This is the safest option for quick online financial transactions and has just a few corrupt activities. This is already known to be the safest financial platform. This has inbuilt damage control to protect customers, dealers, merchants etc.
A secure payment gateway secures data for both the buyer and seller in terms of confidentiality and security. These payment methods can be viewed as under: -
Credit cards – Credit cards is most used electronic form of money and can be widely used. Nowadays, every bank we know offers credit cards for all categories of customers. Credit cards are not only fast but tremendously secure too. Most of the web stores save card information for future use. This brings down the nuisance of repeated transactions by inserting the same details each time.
Read More: Myths and Facts About Credit Cards
Debit cards – Next in line would be debit cards and net banking. This can effectively be used when you have balance in your savings account, otherwise not. An OTP can further enhance the safety of all financial transactions.
Net Banking – Net banking can get the easiest if there is money in your account. It is very similar to a Debit card. One needs to get net banking activated from the respective bank.
Other Electronic Payments – Google Wallet, PayPal, etc. are brilliant payment options. These methods are still growing their importance and will soon reach major players. PayPal is one of the most popular electronic payments. A study revealed its over 250 million and can be found at multiple locations, due to its secure payment mechanism.
Conclusion: Payment gateways are duly safe and secure for online transactions!