Types of Payment Gateways in E-commerce
The following are some of the types of e-commerce payment methods to include in your online store:- Debit/Credit card payments: This is the most common and widely used method of payment, almost all the people who use the internet have a debit or credit card with them. Credit/Debit cards are safer to use on the e-commerce platform as the customer needs to enter their card number, expiry date and CVV number. The CVV number acts as a safety measure that compares customer details and the CVV number.
- Net banking: Though it is slightly a lengthy process and not always the first choice of customers while making payments on e-commerce, it is still considered an essential payment method. Customers usually go to this when the other options do not work, it is considered the most secure method as they need to be authenticated by the customers.
- Unified Payments Interface (UPI): UPI allows the transfer of money from one bank account to another instantly via one’s mobile phone. Payments can be made through mobile devices only 24/7.
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