Home     About Us    Contact Us     Contribute     Privacy
Investing
Stocks
Bonds
Mutual Funds
Biz
Credit
Career
College
Economics
Tax
More
 
 
Marketplace
Related Articles
More
Related Categories
Tip of the Day

Tip of the Day Consider Public Schools

Consider Public Schools - It is a fact, we all want the best education for our children and many of us believe the only way that is going to happen...

read entire tip

Related Podcasts
Recently Added
Other Great Sites
 

Credit Card Online Payment

Making payments over long distances for a long time remained a big nightmare as the processes as well as the availability of the transfer facility always posed a challenge. However with the rapid growth of the credit card system and its flexibility, sending money online has been simplified and the sender and the recipient can both exchange their funds within a very short time. The system of linking one's account to the internet based payment systems requires complex and detailed understanding of the way the systems coordinate. It is through this kind of transactions that the online payment via credit card operates. As such, the deal can be completed within a few seconds or minutes just like you could perform a transaction at your local shopping mall using your credit or debit cards.

Advantages of credit card online payment

Credit card online payments are a very swift way of making payments to friends or even paying for services rendered by remotely transferring funds from one account to another without necessarily having to go through the tedious paper based style of transactions. Since the message is sent via internet, the account can be debited within minutes. To be more precise it will only take the amount of time the data packets take to travel from one internet server to the next in order to effect the payment.

The online payment system has revolutionized the style of doing business internationally like never before. Think of the numerous numbers of people who do virtual work. Paying for remote work has been simplified enabling most businesses to get skilled manpower from beyond international boundaries since the payment method dilutes any huddles that would have otherwise been created by the currency differences between any two countries. With the online credit card payment system, it is actually possible to pay multiple people in variable locations using the same card and at the same time. If you are thinking of flexibility and dynamism, I can't get a better definition.

Short falls of the credit card online payment

The main problem that faces all forms of online transactions is the thorny and scary issue of identity theft. Think of somebody in a very distant location hacking into your credit card and paying for his luxuries using your credit card. As much as the person may not even be familiar to you, the bottom line would be that you somehow have to pay for his actions even though tracing him may never be possible due to the long distance between the two of you. Other than identity theft, the other disadvantage as far as am concerned is the increased risk of impulse buying which may eventually result in serious overspending. This is because the online credit card always provides you with the ability to spend at the slightest urge. In these circumstances, you might easily end up buying stuff that you don't even need.

Discuss It!
Most Popular Articles
Most Popular Definitions
 
Daily Definition

Definition of the Day Conversion Option

Conversion Option - a conversion option is a feature on certain preferred stocks and some bonds... This feature would allow the shareholder to covert their shares into common stock. Preferred stock, also known as Capital stock, provides a specific dividend that is paid before any dividends are paid to common...

read entire definition

 
 

 

 

Home     About Us    Contact Us     Contribute     Sitemap

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Copyright © 2009 TeenAnalyst.com