Online Transactions

Online Transactions

Online Transactions

Online transactions have significantly increased during the pandemic but so did online frauds.

Both customers and retailers have been a target of scammers in the US for years. According to statistics, the factors leading to the high rates of online payment fraud include the growth of e-commerce, mobile payments, data breaches, etc. Below, I will discuss online transactions and types of transactions.

I will also share advice on how to make safer online transactions, so let’s get started right away.

What Are Online Transactions?

Online transactions, also known as PIN-debit transactions, are pin-protected payment ways that enable a transfer of money over EFT (electronic funds transfer).

2 Different Types of Online Transactions

When you pay for products and services online with your debit card, you can choose your payment to be processed in 2 different manners including an online transaction through an EFT system that needs a PIN to complete the process. Or an offline transaction through a credit card processing network.

How To Make Online Transactions?

Making an online transaction doesn’t take much time or effort which is why online transactions became so popular in the first place. Below is a short guide on how to complete online transactions.

Register

To complete a purchase, first, you need to make a password-protected account, meaning, you must save your personal details like email, name, shipping address, and of course, payment information.

Order

Assuming you already have picked out products or services on a specific website and you just created an account, you can add those products or services to your shopping cart. Then, check your order to ensure you got the right number of items. Finally, move to the payment option and insert your details.

Pay

Most retailers provide different payment options such as credit cards, PayPal, digital cash, gift cards, etc. Make sure that you’re buying at a trusted website that uses high-level encryptions to ensure your data is safe. In the following section, I will share tips on how to make safer transactions, so let’s begin.

How To Make Safe Online Transactions?

Online shopping is both a blessing and a curse. It’s very convenient and makes life a lot easier. However, you’re also exposed to the risk of getting your financial data stolen. Hopefully, the next tips can help you stay safe while shopping online.

Use a secure connection

Make sure that both your Wi-Fi connection and the website’s URL are secure. Never share financial and personal information over a public Wi-Fi connection. And if you must shop over public Wi-Fi, make sure to use a VPN for extra security.

Shop at trusted websites only

A trusted site should have an “HTTPSâ€￾ at the start of the URL. Thus, always shop at trusted sites with a closed lock in the browser, which indicates that your information will be secured and encrypted when added to that website.

Read the Privacy Statement

Every reputable site will specify how they secure and protect your financial and personal data like your banking data or credit card information.

Therefore, reading the Privacy Statement is recommended to ensure you’re familiar with the company’s privacy practices before you make a buy.

Choose credit over debit card

A credit card provides much more protection than a debit card. Therefore, avoid websites that only take debit cards or other types of payment like PayPal.

Keep track of your accounts

After completing a purchase at any website, monitor your accounts closely. Keep track of order numbers and watch your credit card statements closely for anything suspicious. And if you see something strange, please alert the credit card company right away!

Use a strong password

Never use the same password for every account online or weak passwords that hackers can easily guess. You can use a mix of special and alphanumeric characters and ensure your password length is more than six digits. Changing passwords regularly is also wise.

Avoid public computers

Always make online transactions using your personal computer or smartphone. Avoid public computers installed at internet cafes or public libraries as these devices can easily be hacked.

Online Transactions Verdict

If you notice anything suspicious, immediately inform your bank. If you’re a US resident, you can contact agencies like Equifax, TransUnion, and Experian.

The sooner you report that your credit card has been misused, the better. Hopefully, this article can help you learn how to make safer online transactions.

Scroll down to read our indepth Payment Providers guide. What you should know, Payment Providers features, price plans and support. Pros and Cons of Payment Providers as a payment gateway, everything is explained below.

Overview of Online Transactions

Online Transactions Spreedly is a software company that specialises in payment-gateway software for small to enterprise level businesses.

Online Transactions Spreedly is listed as the best payment-gateway software. Spreedly was founded in 2008 in Durham, NC and currently has over 79 employees registered on Linkedin.

Best PAYMENT GATEWAY Solution By Rating

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