E-commerce- Payment Methods On the Net

Almost 360million people worldwide use the internet regularly and one in four of these have made online purchases.Most of these transactions have been made using credit cards because they have had no other option.In this report

I will attempt to identify and explain a series of e-payment methods which I could employ in the day to day running of my business.While doing this I will attempt to show the benefits they will bring to my businees and prospective customers alike while briefly including the key features of the payment systems I have identified.

These cards store information on a chip contained within the card itself.These chips can store an incredibly diverse amount of information and the ability to store digital signatures and financial information is essential.The cards largely operate on the same principal as top-up phone cards where the chip is “topped-up” with a monetary amount which is then used for cash purchases.When this cash is spent,the chip is recharged with more money.The level of security and convenience with these cards is high as is the level of privacy and they are widely believed to be a genuine competitor of more widely used credit cards such as VISA and Mastercard.It is my belief t

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Paypal will electronically transfer the money to your bank account or mail it to you in the form of a check. Both parties are then notified by e-mail that the money has been sent. (Paypal does not charge to send the money to your bank, but some banks do charge to receive these payments.

§ This makes the payment even simpler and safer. hat this method of payment would benefit both myself and my consumers for the following reasons:

§ My business will enjoy lower costs due to high credit card network fees being reduced. You create a Paypal account by providing your personal data, such as your credit card and/or bank information, and by verifying your e-mail address. All club members can register their credit card number in the club and pay with the freely selected login and password.

§ The consumer need not worry about their debit card/bank account details being compromised as they are never in the hands of the company.

While running a small Web business I could request payment via Paypal.

§ The consumer also benefits from hidden costs being eliminated. ) Or you can leave the money in your Paypal account to make more Paypal payments.

§ The service of sending and receiving money is completely free providing excellent value to the customer. The Saferpay Club guarantees safe shopping in the Internet to all credit card holders. We would just fill in the payment information, and send it out like a bill. To pay a bill, the customer confirms the transaction, and the money appears instantly in your Paypal account.

Approximate Word count = 1042
Approximate Pages = 4 (250 words per page double spaced)

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