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