In the process of online shopping the consumer goes online and then shops online. An online shop or e-shop provides the purchaser the facility of viewing the items online and there by purchasing the items online itself through credit cards or cheques or even through the debit cards. Mostly credit cards are been used for the online payments. This process is mainly used in the business to business transactions also. Online shopping is gaining popularity now a days because of the speed and the ease which is been provided.
The main aspect which is bothering the online shopping in the recent days is the online fraud and the internet security aspects. Most of the consumers i.e. about one third of the consumers are planning to limit themselves from online shopping. This situation has arose because they are of the fear that their credit card information may be stolen. The average loss of the complaints made regarding the online fraud is about 240$ per complaint.
An alternative method of payment system is gaining a great deal of acceptance. This method is pay me later or bill me later where the purchaser need not be using his credit card nor the purchaser need to give all his personal information while purchasing.
The actual procedure in this bill me later or pay me later method is, when the consumer enters any web site where he wants to shop online, looks for the option of Bill Me Later and if it is available then he can use that option. The consumer is been asked to provide the date of birth information and the last four digits of his social security number. After having the information about the date of birth and the social security number, an instant credit check is been done and in a few seconds, the company gives the information of whether or not to extend his credit.
Pay me later or bill me later can be said as a very good procedure which could be helpful in fighting the problem of internet and credit card security, which are having a great effect on the online purchases.
The main aspect which is bothering the online shopping in the recent days is the online fraud and the internet security aspects. Most of the consumers i.e. about one third of the consumers are planning to limit themselves from online shopping. This situation has arose because they are of the fear that their credit card information may be stolen. The average loss of the complaints made regarding the online fraud is about 240$ per complaint.
An alternative method of payment system is gaining a great deal of acceptance. This method is pay me later or bill me later where the purchaser need not be using his credit card nor the purchaser need to give all his personal information while purchasing.
The actual procedure in this bill me later or pay me later method is, when the consumer enters any web site where he wants to shop online, looks for the option of Bill Me Later and if it is available then he can use that option. The consumer is been asked to provide the date of birth information and the last four digits of his social security number. After having the information about the date of birth and the social security number, an instant credit check is been done and in a few seconds, the company gives the information of whether or not to extend his credit.
Pay me later or bill me later can be said as a very good procedure which could be helpful in fighting the problem of internet and credit card security, which are having a great effect on the online purchases.
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