Payment Gateways Have Brought About Technological Revolution In Shopping
We have gone very advanced in financial dealings and what had taken a whole day of standing in the queue now takes just a few seconds of tapping. Still, we take extra care to hide ATM keypads while entering the PIN and whenever we use a new ATM counter, suspicion is sure to roam around us. It is obvious because we often hear news about ATM thefts and frauds using ATM card numbers.
The irony here is that while making essential as well as indiscriminate shopping and paying for the same using a simple card swiping or online transaction are done in a comparatively carefree manner. All the credit for this might go to the encrypted security attributed to the function of payment gateways.
They have brought in trust and professionalism in the E-commerce market and adjoining areas in the following ways:
Payment gateways have literally revolutionized shopping as it instilled the tag of secure transactions and aided in the penetration of items to all the nooks and corners of the world. A product made in an African village gets buyers from a Canadian city with real-time payment and the buyer may not have any second thoughts about the security of his financial details when the gateway takes care of it.
The platform for merchants and retailers has widened with respect to covering more markets and they no longer need the long and tedious planning to search and establish localized markets. The ease and safety associated with gateways have enabled even a household merchant to get the fruit of his or her creativity from within the four walls of the house.
Earlier, payments through commercial sites were unwritten restricted to a few popular currencies and mainstream credit cards with the fear of rejection or non-acceptance. With the payment gateways taking care of all transactions and the increase in the gateway types, reward cards, membership cards, and even lucky draw cards are being used with minimum risk.
The buyer gives submission to debit the bill amount from his account and then the next step he witnesses is the receipt for payment approval. In between, there are multiple recurring steps of security checks and authorizations that have less transparency, but more trustworthy.
There was a time when even a hoax report of a QProfit System scam would scare the sleep away from the internet users, but with the double seal of secure payment gateways, digital currency payments are also on the rise.