Different Payment methods used in online shopping.

There are two things essential for transactions to take place on the internet these are customer’s personal computer and the seller’s web server. Web browser is used by the customer to place an order and to specify the mode of payment. Mode of payments used in online shopping are basically the electronic version of traditional ways of payment, in case of online shopping all ways of payment are digital .

Credit card is the means through which payments are mostly made in online shopping, however some systems allow users to pay by alternative means also, such as:

• Debit card
• Smart card
• Cash on delivery
• Wire transfer/delivery on payment
• Postal money order
• PayPal
• Bill Me Later
• E-cheques
• Reverse SMS billing to mobile phones
• E-purses
• Direct debit in some countries

International credit cards are not allowed on certain websites, billing address and the shipping address should be of the same country in which site operates its business, while other allow to do online shopping from anywhere.
While credit cards are currently the most popular means of paying for online goods and services, alternative online payments will account for 30% of e-commerce volume by 2010 according to recent surveys.

I feel this company have the safe payment methods mytenderworld.co.in and framt.com

Some figures about online sales in US

Since last few years, online shopping has become very popular; however, it largely caters to the middle and upper class. For online shopping, one must be able to have access to a computer, a bank account and a debit card. Shopping procedure has changed with the growth of technology.

TRAVEL IS ONE OF THE BIGGEST CATEGORY IN ONLINE SHOPPING.

Reasons for success

1. New businesses that do not have money to setup their physical stores can setup online stores and compete with well established brands.
2. Minimizes sales and marketing costs.
3. Provides convenience ,Customers can visit the online stores anytime (24*7)
4. It allows more business partners to be reached.
5. It offers wide choice to customers.
6. Low advertisement cost and more information can be given on the product and services.

Scope of online shopping

Purchasing and selling products and services over the internet without the need of going physically to the market is what online shopping all about. Online shopping is just like a retail store shopping that we do by going to the market, but it is done through the internet. Online shopping has made shopping painless and added more fun. Online stores offer product description, pictures, comparisons, price and much more. Few examples of these are Amazon.com, ebay.com, framt.com and the benefits of online shopping is that by having direct access to consumer ,the online stores can offer products that cater to the needs of consumer ,cookies can be used for tracking the customer selection over the internet or what is of their interest when they visit the site again . Online shopping makes use of digital technology for managing the flow of information, products, and payment between consumer, site owners and suppliers. Online shopping can be either B2B (business to business) or B2C (business to consumer)


Shopping cart is one of the important facility provided in online shopping, this lets customer to browse different goods and services and once they select an item to purchase they can place the item in shopping cart, and continue browsing till the final selection. Customers can even remove the items from shopping cart that were selected earlier before they place the final order. It reminds us of shopping basket that we carry in departmental store