Secure Online Payment Methods for a Safe Shopping Experience

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Online shopping is always a great experience but payment for online shopping can be tricky. There are many online payment methods that are available now thank to the fast-growing online market and the digital transaction methods. Keep reading to find out some of the common online payment methods and their pros and cons.

Credit Cards

Cards have been a popular payment tool for a while now. Credit cards or specifically, EMV enabled credit cards are one of the best and secure methods of doing online payments. They are more secure than the traditional cards. EMV credit cards are also known as ‘chip and PIN’ cards and are cards with a smart chip.

This is because they have an integrated chip that creates an authenticated code for each transaction you do using that particular card. These cards also cannot be replicated which mean the chances of a hacker cloning your card is down to zero. Credit cards will only be disadvantageous when you come across a seller who doesn’t accept card payments. However, this is not an issue in online shopping but only seen in traditional shopping.

Apps

Apps have become one of the most essential tools when it comes to fulfilling our daily needs. So it is no surprise that payment apps are another popular option for payments nowadays. You can transfer money to anyone in the world in a matter of seconds. Your bank account and card details are linked to the app and when you make a transaction, the app transfers money from our account to the seller’s account. Unlike credit cards, these are not at the risk of being lost or stolen with your wallet.

lay buy
Image Source: Pexels

Anyone with a smart phone can download a good payment app into their phones. Apps are also more convenient to use when you are paying your bills, repaying your loans or paying the instalments of your latest lay buy purchase. All you have to do is register or enter the details of the seller’s account and make quick transaction with a tap and swipe of your finger.

Electronic Gift Cards

We are not new to gift cards. If you are someone who worries about letting out your personal account information, especially those about your bank account or your credit card, then gift cards are the best choice to opt for. These are safe to use for transactions, especially if there is a payment that you have to make but don’t want to expose too much information about you.

These are not connected to your bank account so you can use them without being anxious about your payments. The only thing to remember when you are using your electronic gift card is making sure that it came directly from the retailer and not some third party. Otherwise, you could be tangled up in a scam or a fraud for using invalid gift cards.

While online shopping is easy, it should also be safe. Irresponsible online shopping can get you in both financial and legal trouble. So when it comes to making your payments, it is essential to know the options you have, the benefits they bring and the risks they might come with.

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