The Importance of Online Payment Services In The E-Commerce Industry - PowerPoint PPT Presentation

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The Importance of Online Payment Services In The E-Commerce Industry

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Title: The Importance of Online Payment Services In The E-Commerce Industry


1
The Importance of Online Payment Services In The
E-Commerce Industry
2
Online payment gateways have become an integral
part of the e-commerce industry since customers
rely more on online purchases in today's date
compared to other resources. Our lives are
becoming highly fast paced, so as to keep pace
with the currently growing market trends.
Technology has put a great impact on our lives
and slowly with the evolution of websites and
doorstep shopping online payment services became
highly popular. Gone are the days when people
would move around with currency, now people
generally prefer to use artificial money to make
payments. When, a customer visits a retail
outlet, there is access to a physical POS machine
where the money can be realized by swiping the
card.
3
While making online purchases, we also need a
transmission platform which would ensure
extremely smooth transactions. Apart from being
smooth, the transactions have to be highly
secured which would ensure minimal risk of
phising. Unauthorized access to particular credit
card information would lead to major problems
which might result in the loss of thousands of
dollars. Just imagine someone taking money out of
your bank account without your knowledge or
consent. In the past credit card frauds were
quite mutual, but today, the best digital payment
gateways have been put in place to negate the
chances of such failures. It is through common
understanding that major IT security companies
have developed technology which would ensure
complete security of the company against all
kinds of data thefts and leakage of sensitive
information.
4
The e-commerce industry has influenced the
payment gateway industry to a great extent. One
of the major justifications behind the
realization of the e-commerce industry has been
the price competitiveness which it offers to its
customers. Another reason would be the security
cover that it can provide to its customers. Well,
almost every one of us wish to shop online to get
the cost advantages. Well, as a matter of fact,
we verify the payment partners associated with
the online store before making any online
payment. Most of the online payment gateway
partners are genuine and trusted gateways in
today's world of e-commerce. Continual research
and development on more advanced payment gateways
are underway which would ensure faster and more
secure transactions. Many payment gateways are
being developed as mobile phone applications
which can be downloaded directly into a smart
phone. It is true that the evolution of smart
phone technology has created quite a storm in the
market since it is influencing the development of
associated technologies. Mobile technology
dominates a significant portion of the markets
since this technology does not have any
alternative and has already created a fair impact
on our lives.
5
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