The role of e-payment in e-commerce

Online payment gateway lets you accept credit and debit cards through any internet connection and no terminal in needed. The payment gateway then captures the credit card transaction, encrypts the transaction information, routes it to the credit card and then returns either an approval or decline notice. Usually in India, people mostly prefer cash payments because as per their mentality they think online payments are not safe enough to spend money. For manypeople’sthere is still a lack of trust for E-payments. In a country like India there is a perception that having every transaction be tracked could invite trouble. Everyone from the neighbourhood vegetable vendor to the chai and bhelpuri-wala is embracing E-payment solutions to tide over the cash crunch. Many people don’t have smart phones because of financial issues and lack of knowledge so online payment system is a big challenge in rural areas for financial issues.