In the modern world, most anything you want and desire can be accessed through the worldwide web. Whether it's an expensive winter fur coat sold in Ebay or a limited-edition video game, it's yours with a simple click of the button and the input of your credit card account number through an online payment system. It's all about business globalization and quick transactions. All you have to do is patiently wait for the shipment. But if the part about giving your credit card account number gave you pause, don't worry; much emphasis has been given to online payment systems and how they deal with identity theft and other fraudulent acts. These days, you can effortlessly access such auction sites and online shops as Amazon or Ebay to look for products to buy.
With all these quick and unproblematic online payment systems, the obsolete methods of having to send money orders and other such processes has been eliminated and streamlined for your convenience. Because of the internet, you can now directly purchase what you want from the merchant him/herself without going through middlemen and even through great distances; this medium is known as the online payment gateway. An online payment gateway is an e-commerce application service provider service that authorizes payments for e-businesses and online retailers.
It is the equivalent of a physical point of sale terminal located in most retail outlets. Payment gateways encrypt sensitive information, such as credit card numbers and invoices, to ensure that information passes securely between the customer and the merchant. All the same, abuse of this technology, like any other technology, is par for the course.
Phishing-an attempt to criminally and fraudulently acquire sensitive information, such as usernames, passwords and credit card details, by masquerading as a trustworthy entity in an electronic communication-has been commonly reported since the dawn of online payment systems. Ebay, PayPal and online banks are common targets. In response to this threat, online payment gateways encrypt sensitive information, such as credit card numbers and invoices, to ensure that information passes securely between the customer and the merchant. Furthermore, account creation and Secure Socket Layer (SSL) are extra measures to assure the security and safety of a consumer's identity and money. The safest online payment system for online shopping, despite popular belief, is credit card payment. Why? It's because security goes through two protective entries; first through the website, then through the bank.
In addition, you money will earn interested till the day of purchase. Still, you have to exercise caution in giving out credit card information over the Internet. Think "compatibility" when opting for the proper onine payment; that is, the one that is most compatible with other popular systems have the most options and convenience.
Learn more about Online Payment and be able to buy anything, anytime and anywhere.