Electronic cards. The
biggest fear of shopping on the Internet has
been linked to consumers unwilling to use their
credit or debit cards online. Electronic
cards provide a secure and safe way to shop on
the Internet. This one-time use card can
be set with a fixed-value; based on the online
purchase. What’s more, if the card is not
used within 24-48 hours, it automatically
expires. The card can be funded using
existing credit/debit card or a bank
account.
The consumer can confidently and securely
shop online. The consumer’s actual credit
or debit card details are not revealed to the
merchant. Since the card is fixed in its
monetary value, the consumer cannot be over
charged. Its one-time use nature ensures
that even if the card number is stolen it cannot
be misused. Consumers who don’t have a
debit or credit card can now shop online with
electronic cards. All purchases can be viewed in
one place, allowing the consumer to track their
orders.
Electronic cards increase Internet
transactions, leading to increased revenue for
the issuer. They increase loyalty in the
customer base, once a customer starts using
electronic cards; they tend to use them over and
over again. It is a great way to increase
card penetration and acquire new customers with
this payment service.
Electronic gift cards.
Electronic gift cards allow consumers
to extend the security and convenience of
shopping on the Internet to their friends and
family. The electronic gift card is a
multi-use, fixed-value card which can be used
for purchases on the Internet. The card
can be funded using existing credit/debit card
or a bank account.
The consumer can now send a gift using the
convenience of email and can be given till the
very last minute. The gift card recipient
can shop online with this secure card.
They can view all the purchases made on the gift
card while keeping a tab on the remaining value
of the card.
Electronic gift cards increase Internet
transactions, leading to increased revenue for
the issuer. They increase loyalty in the
customer base, once a customer starts using
electronic cards; they tend to use them over and
over again. It is a great way to increase
brand name and acquire new customers with this
payment service.
