Cash or Plastic? Payment Modes for Online Businesses

Any purchase transaction will not be complete without the business receiving the payment and the customer receiving his goods. This exchange used to be as simple as handing cash and goods over to each other. These days, there are modern innovations to the way people pay for their purchases. This, of course comes with various changes in the way goods are made available to consumers. There are various payment modes for online businesses nowadays. While they would still offer their customers to pay for their purchases with cash or their plastic debit or credit cards, online businesses often accommodate several other payment modes.

payment modes

The most popular of these payment modes for online businesses is the credit card or the debit card. When consumers pay using plastic, the business owner immediately gets his money. There are no clearing times to wait for and there are no transfer fees to worry about. The chances of the buyer not paying for his purchases are also eliminated since payment is automatically transferred to the business owner’s account once the transaction with the credit card company or the debit card company pull through. The only information that online businesses will have to get, other than the customer’s full name, is his card number.

While a lot of people who shop online use their bank cards to pay for their purchases, there are some who are still hesitant to give out their card details online. Understandably so because there have been reports of credit card fraud or identity theft online. Businesses will have to assure their customers that they have a secure payment processing system. There are security systems specifically programmed for payment processing. It is recommended for online businessmen to ensure that any information given by their customers are kept secure and confidential.

Even in the online world, gaining and retaining customers is all about trust. Your customers should be able to trust you with their payment information to consummate the sale. Most online shoppers would ask about payment modes for online businesses and their security measures before finalizing their purchase. Not a few have actually walked away from a purchase just because they do not trust the online site with their card and personal information.

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SixNinePixels – FreeDigitalPhotos.Net

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Prepaid Debit Card: Great Alternative to Traditional Credit Card

debit cardHave you found yourself in the unfortunate situation in which you cannot qualify for a credit card? Or, perhaps are you looking for an alternative to traditional credit cards? If so, take comfort in knowing that a prepaid debt card, such as a prepaid debit card from www.Spendsmartcard.com is a great solution. Let’s dive right in and take a close look at the benefits you will gain from using prepaid debit cards.

No Need to Carry Around Cash

When you carry around cash, you run the risk of losing it. When carrying around a prepaid debit card, if you lose it, you can simply call the card service provider, cancel the card and receive your funds either by check or on a new card.

Accepted Almost Anywhere

A prepaid debit card tends to be accepted universally at any location a regular credit card is accepted.

No Need to Make Monthly Payments

With a traditional credit card, you have to worry about making monthly payments on time. If you miss a payment, this negatively affects your credit score and you are charged large fees. With a prepaid card, you don’t have to worry about making monthly payments because your charges are already paid for.

Boosts Your Credit Score

Most prepaid card service providers report your activity to major credit bureaus, meaning prepaid cards are a great way to get your credit in tip-top shape.

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StockImages – FreeDigitalPhotos.Net

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6 Tips to Keep Your Credit Cards Safe from Hackers

Credit cards, debit cards and electronic money have become widely popular these days because of the convenience they offer. You can easily go shop and buy anything you want without carrying wads of money in your purse. In the US, an average individual have 3 to 5 cards from different bank and credit facilities.

safe credit cards

Having a credit card means that you should also be responsible for its use and be aware of the possibility of it being lost and hacked. If any person gets hold of your card or your information, he or she can use it and charge expenses which you will be responsible for. So here are some tips to ensure that your credit card is safe from fraudulent use and hacking.

– When using your credit card card, keep it within sight and make sure that only authentic machines are being used when your card is swiped.

– Keep your password, pin and CVV number a secret. This information can easily compromise your credit card and open it up for charges made by somebody else.

– Consider getting several credit cards with a low credit limit each. This will lessen the risk in case one of them gets lost and misused.

– Use your credit cards in secure locations or venues only. When shopping online, be extra careful and patronize only those with secure payment options.

– Avoid online shopping and using your credit card when you are using a public computer or in cyber cafes. There is a big possibility that your data can be extracted. Many cyber criminals utilize these locations to gather financial data from several credit card users.

– Never respond to phishing mails and before you key-in any personal or financial data, make sure that there is nothing changed with the website that you have accessed. Many hackers copy websites of banks and other financial institutions to make it appear like you are having an authentic transaction but these will only extract your card number and your information.

Credit cards can save you a lot of time and effort in purchasing the things you need. You can shop at home from online shopping venues and you can also go shopping without carrying cash. As long as you remain responsible in using it and in paying your dues. You should also safe guard it at all times since more and more are becoming victims of credit card hacking.

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David Castillo Dominici – Free Digital Photos.Net

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How to Get Rid of Unnecessary Credit Cards

Picture this: you’re standing in line waiting to pay for your shopping and when it’s finally your turn, you open your purse or wallet to pay. Now what happens? Do you remove the one card from your purse and pay for it in the same way you do all your transactions? Do you hover over several cards, doing a quick mental calculation of how much is left on your credit limit with each, trying to remember which PIN goes with which card and then get a shock when you receive your monthly statement?

credit cards

If you answered the latter, you’re not alone. It’s not just personal debt that is rising, but the number of credit cards held by an average adult is now around four. Whilst there’s nothing wrong with having a credit card and using it wisely, you aren’t doing yourself any favours by juggling and balancing all the time.

Think credit – think credit score

But before you reach for your scissors, you need to think carefully about how you can best manage your credit cards. Simply cutting them up and closing your accounts may make you feel as though you’ve had a burden lifted, but you need to consider your credit rating. Closing credit cards, even if you don’t use the account, can have a negative effect on your credit score, as you’re essentially reducing the length of your payment and account history. As strange as it seems, it’s best to still use each card on occasion, without racking up massive debts.

A clear balance

For your existing cards, make sure your interest rates are competitive and you have an acceptable credit limit. Then you need to keep these accounts open, paying off high-interest card balances first. Once you’ve cleared all these balances, keep using your cards every now and then to keep them ‘live’, but make sure you clear the balance every month. If you have a lot of credit cards (more than four), you would benefit from speaking to an independent financial advisor to see how you can manage your finances in the best way.

Resist temptation

As you’re leafing your way through all the cards in your purse, the chances are you’ll pass at least one store card. Highly tempting with their money-off purchases and loyalty schemes, these can then become something of a burden when you move on to shopping at a different store. Again, the temptation is to simply open a new card at your new favourite place, but once again you need to consider your credit score. Opening a new card or cancelling your old one will have a negative impact on your credit rating. The best thing to do here is keep your old store card, using it and paying it off occasionally and resist temptation to open another.

Managing your finances is important, especially as you grow older and perhaps have more responsibilities and dependents. Keeping your credit cards in check is a great way to maintain a healthy credit score without racking up unfeasible amounts of debt.

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Adamr – FreeDigitalPhotos.Net

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