Introduction
It is so obvious that nowadays most web sites are seeking to facilitate their businesses by accepting online credit payment for the services they offer. Current research that has been carried out shows that it is always convenient to use online credit card payment to increase business and to also attract customers. By being convenient it means that online credit payment should eliminate the urge for customers to use other online payments such as Western union, Telegraphic Transfer and even Money Gram. Online credit card transactions offer consumer security and are safe as face to face transactions.
History
Online credit payment is so marketable since it is all over the world and internet users are so many nowadays. In case the buyer is so far away from the point of sale there is no big deal of worrying how the transaction will take place since it can be performed from anywhere, anytime so long as the person is connected to the internet. It is always an effective and time saving method of payment that one can use. One needs to be a professional banker or a software genius in order to set up the online credit payment and achieve its benefits and the main objectives set. There are several tasks that are required of a web site owner to undertake before accepting online credit payment, first one being to open a merchant account. The merchant account one opens will depend on the number of customers expected, the volume of sale and the approximated size of each transaction. By accepting credit card online one’s business attains internet business creditability, receives payments faster as opposed to posting of mails and has the ability to make orders all the time as required.
Features
As technology goes up so does business inventions which clearly indicates that credit online payment is the most suitable method of payment for the future. However, there are some few challenges that come along with this kind of payment. These challenges include the fear of exposing an individual’s personal details to the third parties. These details may be used by others to hack their credit card accounts. Other shoppers may also be skeptical about transmitting their credit card numbers via email addresses. This is because they feel that this may expose their identity to others thus making online credit payment to be unsafe method of paying for goods and services. Others sellers may also gain access to the buyers email addresses and send them unwanted emails in trying to advertise their goods and services.
Tips and comments
For customers may still be worried about the safety of using online credit payment methods, they may use alternative means of transmitting information to pay by credit cards. These methods include sending credit card number by phone or even faxing it. Online credit payment popularity is on the rise due to the major benefits that it presents to both the buyers and sellers who may be worlds apart. Even though it also present some challenges, when benefits and cons are compared, then using online credit payment becomes very convenient.
