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Modes of Payment
All e-commerce websites offer various payment methods for purchasing products or services.
Some of them are as follows:
Debit or Credit Card: E-commerce websites allow us to make payments using debit or credit
cards. When using a debit card, the amount will be deducted from your bank account, so
you need sufficient balance to complete the transaction. For credit cards, the bank provides
a credit limit that can be used to purchase products. To prevent online fraud, each card
has a unique three-digit Card Verification Value (CVV) number on the back. Additionally,
the bank sends a One-Time Password (OTP) to your registered mobile number to verify the
transaction's authenticity.
Net Banking: We can make online payments directly from our bank accounts. Each bank
provides a unique Customer ID or Net Banking ID and a PIN to its customers. Using this ID
and PIN, customers can pay for products on e-commerce websites. Similar to credit or debit
cards, net banking sends an OTP to the registered mobile number for transaction verification.
E-Wallet: An e-wallet, or electronic wallet, is a digital wallet used for online payments. You
need to add money from your bank account to the e-wallet before using it. Many e-commerce
websites have their own e-wallets, and some banks also offer e-wallet services. Third-party
organisations also provide payment support through e-wallets. Common Payment Service
Providers (PSPs) include Google Pay, Paytm, PayPal, BhimAPP and PhonePe.
Cash on Delivery (COD): Many e-commerce websites allow you to pay with cash when they
deliver the product to your home.
Online Shopping
Online shopping is the process of buying products over the Internet, where almost anything can
be purchased. To buy products, you need to be registered with the e-commerce website where
you plan to shop.
Now that we have covered e-commerce websites and payment methods, let’s look at the steps
involved in buying products from an e-commerce site, including browsing products, adding
items to your cart, checking out, and completing your payment.
To buy products from an e-commerce website, follow these steps:
1 Type www.
2 Click on Login
flipkart.com and
button.
press the Enter key.
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