Compare Different Payment Systems Used In E-Commerce Payment Systems

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Compare different payment systems used in e-commerce interfaces

Net Banking
Net banking is a fairly modern payment method which allows the customer to purchase items and use internet banking without the use of their card. This means that the customer does not need to enter their details like card number, their name or even their security code. This is because the net banking account already would have the information already logged into it. Certain banks also have mobile applications for online banking which allows the user to log onto their account through their phone then they have the ability to use all the banking feature like paying out, viewing the balance, looking at statement and monitoring the progress of incoming payments. The advantages …show more content…

PayPal allows people to load money onto their account to then go on and purchase products through the PayPal account. After years of people using PayPal it became so successful because everyone trusted them with their information. This is why some customers wouldn’t feel comfortable in using a website which wasn’t supported by PayPal. PayPal is a very quick and reliable service and they have managed to save the customer precious time because once the customer has uploaded their details to the account, it means they wont have to re-enter their details for another other website as long as they log in to PayPal. PayPal make their money by charging the customer a small fee for using their service, most people are happy to pay this, though, because of PayPals reliable security procedures that are put in place to protect them. However, PayPal have the ability to freeze the money within the account if they think that their policies have been abused, this could have an devastating effect on a small business if they use PayPal to

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