| With the influx of modern technology into our | | | | validation, card details are sent back |
| lives, more services are made easier. New | | | | through `Net merchants' page for confirmation |
| gadgets, tools, and modes of transportation | | | | or rejection. If confirmed, the purchase is |
| make essential human functions like | | | | done and the shopper only needs to wait for |
| communication and transportation a breeze. Of | | | | the delivery. |
| these developments, none has made as much | | | | |
| impact as the Internet. Communication, access | | | | Despite the efficiency of internet merchants |
| to government service, and even business | | | | and online payment processors, the pros and |
| transactions are made possible through its | | | | cons still needs to be clarified. Customer |
| use. And with the rise of internet merchants | | | | convenience, added sales channels, automated |
| and online payment processors, the most basic | | | | authorization, and a streamlined payment |
| human function of consumerist ethos (a.k.a. | | | | system count as the advantages of availing |
| shopping) is clicks away. | | | | the services of internet merchants and online |
| | | | payment processors. However, there are still |
| What are internet merchants and online | | | | risks in using the system. Charge or fees for |
| payment processors? Internet merchants are | | | | online purchases are usually higher. Security |
| simply business people who sell their | | | | risks are also issues. Unless you are sure of |
| products or services through the internet. | | | | the security measures provided by the |
| Internet merchant sites function as virtual | | | | merchant and processing sites, this risk is |
| shops wherein online shoppers can browse | | | | real. Sensitive information like account |
| through pages of products or catalogs. These | | | | information can be hacked into, altered, or |
| sites usually feature the prices of each | | | | stolen. |
| service or product, sales promos, virtual | | | | |
| shopping carts, and most importantly, several | | | | To avoid or minimize these risks and to fully |
| payment schemes. These payment schemes are | | | | enjoy the services of internet merchants and |
| modes of online payment processors. Online | | | | online payment processors, vigilance and |
| payment processors are institutions who offer | | | | information is key. Read the fine print on |
| companies or businesses a system to accept | | | | the account and conditions set by the `Net |
| and process debit and credit cards minus the | | | | merchants. You may miss other conditions or |
| hassle of dealing with the different banks or | | | | extra charges if you just read the top half |
| issuers directly. They basically work as a | | | | or click the Agree button. It'll also help to |
| middle-man between the card holder and the | | | | check the integrity or status of the |
| `Net merchants. The merchants pass credit | | | | processing site the `Net merchant uses. After |
| card details to the processing website, or | | | | all, it's your money that's at risk. If |
| the merchant page could jump directly to the | | | | you're finally sure then, click on and enjoy |
| processor's site. The processors then | | | | shopping. A reminder though, you may need to |
| validate the card details and account. After | | | | exercise serious self-control. |