Payment problems are critical issue for online buyers. As of now a large portion of Indian population are still untapped by eCommerce sector and they prefer traditional way of shopping than online shopping. One of the most important reasons behind this is their less confidence in online transaction. So online stores introduced cash on delivery options to bring that confidence among the customers. Flipkart launched such kind of payment feature in 2010 which truly meets demand of Indian customers. There are many people who have faced some payment problems during online payment. Customers are also expecting better service and hassle free transaction on various eCommerce sites. Payment technology is developing each day to mange this growing online transactions and protecting customers interest.
Top 4 payment problems : 😎
Less payment options available : Nowadays due to advancement of payment technology. there are many payment options are available in India. These are card payment (debit & credit card), internet banking, cash on delivery, gift card, IMPS, mobile wallets, gift voucher, redeem points, credit voucher etc. Many online stores are also offering EMI option for selected card holders. Acceptance of different payment schemes (VISA, MasterCard, AMEX, RuPay) is also an important issue. Now buyers are also aware about many payment gateways and they have different trust level on different payment gateways (CCAvenue, PayUBiz, PayUMoney etc). Some buyers also have preference of a payment option over others. If they do not find their preferred payment option on an online store then many time they avoid such sites. Suppose someone prefers mobile wallets but an eCommerce site does not offer that mobile wallet as payment option then he or she will avoid that site and will look for another site.
Payment failure : Payment also happens quite often. Reasons behind this are poor internet connectivity of buyer’s internet service provider, bank’s server down, wrong data inputs or other technical issues. Sometime it happens that money is deducted from bank account but eCommerce site does receive the amount. So that time customers need proper support from bank as well as from eCommerce site. Many payment gateways offer retry option to buyers with same payment option or try another payment option. You may sometime see this feature offered by payment gateway. This retry option reduces hassle of payment failure.
- Payment gateways – PayUBiz, CCAvenue, PayPal, Citrus Payment, Pay Zippy, EBS, PayUMoney etc
- Payment options – Credit Card, Debit Card, Net Banking, Mobile Wallet, Gift Card, Credit Voucher, Gift Voucher, Cash On Delivery, Redeem Points
- Payment schemes – MasterCard, VISA, AMEX, RuPay
Hidden charges : Hidden charges are important aspect and many customers have bad experience due to this problem. Hidden charges may be due to sale taxes, convenience charges, any other taxes etc. So always read payment policy & customers reviews before buying anything from online store. There are many sellers who also charges shipping charges on many eCommerce sites. Sellers always indicate about such charges based on various parameters.
Security issues : While you are doing online transaction and paying on a new online store then you always check some security parameters to avoid online fraud.
- 3D security password – It is provided by payment card technology providers (VISA, MasterCard) in partnership with card issuing banks. This password will be generated by you and only you can know the password. You have to use this password whenever you will buy online by using those payment options. eg. VISA & MasterCard provide “Verified by VISA” and “MasterCard SecureCode” services respectively.
- Data encryption – Data or information encryption is a smart way and most secure way to protect buyers data from online identity theft. Secure Sockets Layer (SSL) encryption is most secure data protection software. Most of the online stores are using this technology to protect their customers data. So check SSL certificate seal on eCommerce sites.
- PCI Compliance – If a merchant accepts credit cards, then PCI DSS (Payment Card Industry Data Security Standard) compliance is mandatory. It is an information security standard to protect buyers who are using cards for making payments. This is backed by major payment card scheme VISA, MasterCard, AMEX, Discover, JCB.
If you are a smart online shopper then you must know this and help others who use to buy online. If you have ever faced any of such payment problems and gone through a bad online transaction experience, then please share here and let us know and help others to grow a smart shoppers community.