Different Payment Methods In E Commerce Website

The internet has played a vital and important part to encourage selling products and services online which makes life convenient for the audiences, which in an inter-connected world, is well, the whole world.

E-commerce has given rise to the concept of completely online shops selling products and services, efficiently catalogued and available for the shopper’s convenience. There are several websites that stock everything from lifestyle items, collectibles, books, electronic appliances etc.

Payment methods in the infancy stages of e-commerce weren’t much, and were limited to online wire transfers or direct deposit.

Within the past decade, e-commerce has matured and grown exponentially. The result: now there are many types of ecommerce payment methods available online. If your credit is bad and you cannot afford a merchant account, there are alternative methods of payments on e-commerce websites which can help you.

One of the most popular online ecommerce payment methods is to pay via PayPal. Paypal allows anyone to send and receive payments for both online and offline goods. The best thing about Paypal is its ease of use and no verification bounding of credit rating. All that one needs to do is verify their address and personal information. Paypal account holders can simply divert their customers to a PayPal order checkout page, or if the type of Paypal account allows it, payment can be done directly into a PayPal account using only the email address tied to the account like payments@abccompany.com.

Another ecommerce website payment method is Google checkout. This service is run by Google, owner of the famous search engine. Google checkout is fast becoming a popular and favorite payment method for many e-commerce website owners. The reasons, for starters are that the service is user friendly, easy to use and extremely reliable. When you think from the business owner’s end, Google Checkout typically charges less merchant fees than Paypal.

Newer payment methods are also making their presence felt. One of such an innovative payment method available online is iKobo. The way iKobo works is that any customer can choose a payment source, which can be a bank account or a credit card, and tie up that payment source with an iKobo account.

When a customer wants to pay an online website/vendor, all that he needs to do is specify the amount and pay the service fees on top of that. The first time a customer does this with a particular vendor, the vendor gets a VISA debit card from iKobo shipped to him/her. This card issuance is a one time procedure. Then on, if anyone needs to pay an online vendor that has an iKobo debit card, all they need to do is specify the card number, and the payments gets transferred.

Source by Neeraj Arora

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