Online marketplaces are growing all over on the globe. While someone do online shopping then there are number of options available to ensure secure payment. Because while you pay online security of personal data becomes most important thing. Most of the online marketplaces have multiple options to make secure transaction. There are few payment system which are most popular from different reasons like – convenience, availability, security or other reasons. Most popular and common electronic payment methods are – credit cards, debit cards, net banking, smartcard, online wallets, alternative payment methods like PayPal and Skrill etc. Apart from top online marketplaces like Amazon which relies on Payment gateways where on other side top online casinos such as Slotsheaven.com accept payment through PayPal. Let discuss which one is making right decision to secure customer’s confidential information from fraudulent.
Let’s find most secure electronic payment method
Payment gateway is a channel that processes credit cards, debit cards, net banking and other electronic payment methods to make secure transaction. Buyer use his credit card, payment gateway debits product price from bank and send this amount in to seller’s account to complete the online purchasing.
Amongst the several payment gateways few names are – CCAvenue, BillDesk, PayU and others. Some online marketplaces like Amazon has own payment gateway.
Payment gateways provide efficient and secure services. Payment gateways take charge for their services from merchants. Payment gateway is considered as safest money exchange platform and has lesser possibilities of being victim of fraudulent activities. Each and every payment gateway has own fraud protect system to protect merchants from such financial obligation.
A payment gateway supports many payment methods to ensure security of confidential data of buyer and merchant both. These payment methods are –
Credit cards – One of the most popular form of electronic money and used globally on the net. Every banking company is offering Credit cards to their customers. Credit cards ensure a secure and easiest way to do financial transaction. Many top ecommerce and mobile commerce sites store credit card information securely to make payment each time.
Debit cards – The second most popular payment medium is Debit cards and Net banking. As all we know debit card users can make purchase only if have enough amount in their saving account. Today One Time Password (OTP) is making such transaction more secure.
Net Banking – It is very similar to Debit card, the only difference is – user must have a net banking account. It is also have protected by OTP.
Alternative Electronic Payments – Google Wallet, PayPal and Skrill are the few examples of such payment methods. These payment methods are less popular but PayPal is most popular among such payment methods. It is used by more than 250 million active users and available at 200+ online marketplaces because it is considered as most secured payment mode because user does not share anything with merchant except PayPal ID Email.
Payment gateways and alternative electronic payment methods both are enough secure but availability marketing and human mind set plays vital roles here. Mostly people want to pay through payment gateways rather than alternatives. But where there is no alternative to alternatives like Themeforest.net [Other site if required mention here] people pay through PayPal or Skrill.