Online payments: Why use it?

2007-03-08 10:33:40

( Automobiles )



More and more people are making on line payments for purchases and transactions they make. An e-commerce company estimates that on line payments in 2005 may have reached around USD 133 billion. Makes us wonder, "Is this internet service really the way to go when it comes to shopping and other financial transactions?" Let's examine its pros and cons.

Experienced online shoppers will tell you that on line payments make shopping more easy. Why? For one, sellers online accepts almost any credit card as long as you have a good line of credits. Reality is, if you go to a mall to shop, there are stores that do not carry most credit card companies, rendering that plastic card of yours useless. Another reason for it's convenience is the pace your transactions need. In just a few clicks, your done!

On line payments are not only applicable to internet shopping. You can also do bank transactions, especially if you have an on line bank account. One example of a bank transaction that can be done via the internet is the acquisition of loans on line. Think about it! You need not visit anymore your local bank to get a loan. No more long lines and annoying bank personnels to deal with that quiz you even about things that should have been confined to your bedroom. Everything is processed on your own pace and time. Just log-in to your on line bank account and from there, just do whatever you need to do. With proper coordination with people behind your on line bank account, you can settle your loans on line by having your bank make the on line payment.

Secondly, on line payment is more secured than having someone from a store help you with your card transaction. Oh, yes! We have heard of several stories about people who've had their credit cards hacked one time they used it to make on line payments. Hey! These stories are just the product of some media groups who are wishing that a few people would somehow read what they write. Statistics have shown that using your card online is as safe as riding a plane compared to travelling by land. With 228 Secure Socket Locator (SSL), your credit card number becomes unreadable by any computer whiz who plans to go on a shopping spree on your expense as this system converts your card information into some "out-of-this world" language via the internet.

One downside to on line payment that people complain of are voiced by a few who encountered problems with their purchases just because the billing address is different from the shipping address. Processing is delayed at times because of this. Most of the time, transactions can be easily facilitated if both are the same. But again, incidents like this are very few.

With the popularity of on line payments, mainly because of it's advantages, we can expect a further rise in the growth of industries that do business online. Happy shopping!


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