How Consumers Use Online Payment Processes

Most commonly used forms of online payment include credit cards, bank account, and PayPal. Other forms are available for those who prefer not to use the banks or are unwilling to submit their credit card numbers and bank account information on a website.

Credit Cards: Credit cards have been the most common form of online payment. They are easy to process and are the preferred method by many people. You can apply for one at your bank or directly from an online lender. Banks will give you an application number to submit and it is best to have this number on hand in case your application is denied. Most online retailers accept credit card payments when the transaction is made online. Merchants usually have customer service representatives that are available to answer questions. Your bank or credit card company will provide your payment information to the merchant, which is then sent to the online seller. Credit card payments are completed at a website. The purchase is typically secured by a credit card and a purchase card and may not have a signature required on the card receipt. Online payments are a quick and convenient way to pay for your purchases.

Avail Your Preferred Credit Card: Online lenders usually provide preferred card holders a special card which allows them to make purchases with a plastic card. The best cards are accepted by the major online lenders. Your card is normally kept in your wallet or purse and you insert it at the time of payment.

Cheques: Cheques are a paper document that offers the purchaser the option of paying with a pre-determined amount in advance. A money order or money transfer check is another option. You may choose to use a check or credit card to pay for your purchases, depending on how you wish to pay.

Bank Account Payments: Banks accept thousands of bank accounts each day. Online lenders submit the applications directly from their websites. Your bank statement will show you that you have received funds. You can use a bank account to pay for your purchases. Often, your bank will provide you with a debit card that is either linked to your bank account or can be used in conjunction with your bank account. Payments are made directly from your bank or credit card.

PayPal: PayPal is the most popular online payment service. Online lenders provide their customers with personal account numbers and basic account information to enable them to complete transactions. Online payments can be done through PayPal, because it acts as a gateway between the consumer and the online seller. If you choose PayPal to process your online payment, your payments are held in PayPal accounts until you receive confirmation of your sale.

WebMoney: Most people choose to use webmoney. You deposit your money into a webmoney account before you start shopping. This will allow you to avoid the high fees associated with credit cards.

Online payment processes are becoming the norm for most retailers and consumers. The best options for consumers are available via PayPal and the methods mentioned before.