Online marketplaces are growing all over around the globe. While someone does online shopping then there is a number of options available to ensure secure payment. Because while you pay online security of personal data becomes a most important thing. Most of the online marketplaces have multiple options to make a secure transaction. There are a few payment systems which are most popular for different reasons like – convenience, availability, security or other reasons. Most popular and common electronic payment methods are – credit cards, debit cards, net banking, smartcard, online wallets, alternative payment methods like PayPal and Skrill etc. Apart from top online marketplaces like Amazon which relies on Payment gateways where on another side a few sites accept payment through PayPal. Let discuss which one is making right decision to secure customer’s confidential information from fraudulent.
A payment gateway is a channel that processes credit cards, debit cards, net banking and other electronic payment methods to make a secure transaction. A buyer uses his credit card, payment gateway debits product price from a bank and send this amount to seller’s account to complete the online purchasing.
Amongst the several payment gateways few names are – CCAvenue, BillDesk, PayU, and others. Some online marketplaces like Amazon have own payment gateway.
Payment gateways provide efficient and secure services. Payment gateways take charge for their services from merchants. A payment gateway is considered as the safest money exchange platform and has lesser possibilities of being a victim of fraudulent activities. Each and every payment gateway has own fraud protection system to protect merchants from such financial obligation.