Your friend is of the opinion that additional business in about handling and getting more cash by both buyer and Taylor which was highly risky but online payment mechanism is safer is he correct explain any four such online payment mechanism
Dear student,
In this era of globalisation almost everything is going electronic, Online payment is now need of the society. There are many risk associated with online payments but by following safety checks one can easily make safe and convenient electronic payments.
The online payment mechanisms are:
Cards: These are the most common form of electronic payments. There are three types of cards: credit, debit and prepaid cards. They are also called plastic money,in this money gets transferred by just swapping cards.
Internet:Internet payments involve a person transferring money or making a purchase online. A person having Internet banking can easily transfer money online.
Mobile Payments: mobile service providers allow their customers to have a bank account on their cell phone numbers and can use the funds in their accounts to carry out transactions.
Regards