Various modes of online shopping payment
Credits cards are the normal means by which internet shoppers make online payment. But there are some other systems which allow for alternative payment methods in which the user creates an account to make payments. By 2009, according to calculations, 26 percent of the payments of e-commerce degree will be made through alternative methods.
The different alternative means available are:
1. Cheque
2. Debit card
3. Direct debit (some countries)
4. Different types of electronic money
5. Postal money order
6. Cash on delivery (C.O.D., offered by very few online stores)
7. Wire transfer/delivery on payment
8. Gift cards
9. Reverse SMS billing to mobile phones
Certain sites do not permit bill payment through international credit cards. For them, it is mandatory that both the shipping address and the billing address should be from the same country where they do their business. Some other sites allow sending of gifts by customers from all across the world to wherever required. Any transaction’s financial element would undergo real time process (For instance, make the customer aware of the declined credit card before log off) or as a fraction of the fulfilment process, it would be done some time later.
Related posts: