A List of E-commerce Payment Systems!

 1. Debit Card

A debit card is a card with unique credentials and is linked to the customer’s bank account. A debit card deducts money from the user's bank account instantly at the time of the transaction – which is the main distinction between a debit card and a credit card.

2. Credit Cards

Credit cards are the most popular form of payment for e-commerce transactions. Enabling credit card payments on your website can enable customers to shop without having to worry about paying upfront.

3. E-Wallet

The E-Wallet can be thought of as a prepaid account that enables users to store a variety of debit cards, credit cards, and other payment methods in a safe environment without having to enter their credentials each time they wish to make a purchase. The use of electronic wallets is expanding every day. E-wallets enable customers to skip entering card information each time, thus promoting a rapid checkout. PhonePe, PayTM, Mobikwik, Amazon Pay, etc are some of the well-known digital or E-wallets in India.

4. Smart Card

In terms of appearance, debit/credit cards and smart cards are somewhat comparable. Smart cards, however, contain an embedded microprocessor chip. It has the ability to store money as well as a person's personal and professional information. Faster processing is possible with smart cards at lower rates.

5. Online banking

Customers can conveniently make purchases by paying with a bank account directly. The user does not need a debit card to use this e-commerce payment system, but they still need to register with their bank for a net banking facility. The customer only needs to provide their net banking ID and PIN in order to complete a purchase.

6. Mobile Payment

Customers may easily and quickly use mobile payment to make purchases using their smartphones. A user only needs to download a mobile payment app from the applications store. They must then link their bank account to that app in order to add money to their wallet and make purchases, as well as to make payments directly from their bank account.

When a consumer chooses to use that app to pay on an e-commerce website, the app receives a payment request, which it must approve before the payment can be processed.

Conclusion

When it comes to payment gateways for E-commerce websites, there’s a plethora of them out there to choose from. A business must figure out which ones can be the most beneficial payment gateways and integrate them. It is also wise to give customers multiple options as it helps enhance and further personalise their shopping experience.

Whether your business accepts VISA, Mastercard, American Express or Debit, we want our clients to take comfort in knowing that their transactions are priced as low as possible, ensuring minimum fees and maximum profit. We have developed a direct service to reduce the cost of payment processing expenditure.

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