Various payment options of the 21st century

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As well known to many internet users, following are the modern day payment options presented by the digital world. You can purchase jewellery online via a wide range of payment methods.

1. Credit card:A credit card is a payment card issued by a bank to its users based on the promise of the latter to repay the amount spent towards payment of goods & services to a business or shop via a merchant(payment gateway) in addition to other agreed charges. The various types are student credit card, standard credit card, premium credit card, secured credit card, prepaid credit card, specialty credit card etc. Be clear about your purpose of purchasing a card and accordingly choose one. If you are new to the concept of credit cards, please approach your bank and get to know all the charges of repayment including the hidden costs, if any. Be aware of how grace period works; interest rates are calculated; minimum payments are determined, which fees you may be charged etc., to avoid landing in an awkward situation or surprises at a later stage.

2.Debit card: ATM or debit card is the most commonly used payment option. Unlike credit card, it is free of any hassles as the payment to merchant is directly charged from your account. If your account lacks sufficient funds, the transaction fails and no other charges apply. However, be aware of the fact that your bank may charge a trivial amount each year as processing fee for debit card. Nowadays the debit card gets activated within hours after creation of account. It is advisable to use the card for the first time in a ATM machine and change the PIN on a frequent basis to ensure enhanced security.

3. Netbanking: If your account is a newly created one within a few years, your Netbanking application form would have come bundled with the account kit. Else, you may be required to visit the bank for receiving application form or can download it from your bank’s website. Depending on the bank, it may take few weeks to process the application and provide you with the login credentials(Customer ID & iPIN). Before transferring fee online via this method, you should know the beneficiary account information such as account number, beneficiary name along with the IFSC code of the beneficiary account. For the first transaction, you need to add the beneficiary to your netbanking account by filling the beneficiary details and waiting for the bank’s activation. This may normally take half-an-hour. For the subsequent transactions you can proceed right away. This payment method can be achieved in the following ways:
i) NEFT:It is appropriate for transaction amounts below Rs. 2 lakh.
ii) RTGS: You are advised to go in for RTGS when the payment amount is between Rs. 2 lakh and Rs. 10 lakh.
iii)IMPS: Unlike other two methods of fund transfer, you can avail the services of IMPS beyond the working hours of the bank on weekdays(24 hrs on bank working days) and round the clock on Sundays(including bank holidays), as well.

4.Cash on Demand(COD): As implied, you will offer the payment upon the receipt of the jewels ordered online via courier agent. Kindly check for the correctness of quality(BIS 916 hallmark seal), quantity and if the packaging is free from any tamper and the jewels are free from any damages due to transit before handing over the cash.

5.Mobile banking
: Nowadays few leading public & private sector banks have provided customers with sophisticated payment apps that allow integration of payment wallet from various bank accounts owned by a same person. These apps apart from providing valuable information on the balance in each account also allows customers to use a combination of online payment methods such as netbanking, credit card, debit card etc from different banks for a single transaction. What more can the mobile banking users ask for? Payment has been greatly simplified and made easy to such an extent !!!

Several Android mobile users come across a generalized error while trying to install a new app. It is none other than a genuine or fake “Insufficient storage available” message. The possible remedies may be checking for the correctness of device date & time, clearing up data & cache memory used by apps, restoring mandatory apps to their factory default version, transferring relocatable apps from physical memory of the mobile to SD card etc.You may also explore google for few other solutions to eliminate the problem or mitigate its undesirable effects.

6.PayPal: This online payment system comes into picture, especially, for overseas payments where conversion of currency is required. Buyer is exempted from the transaction fee which is charged from seller. You can refer for more details on the different types of paypal accounts provided.

Security assumes high importance in the cyber world which is vulnerable to a host of threats like unaccountable loss of data, theft of credit card information, network breakdown owing to malware and viruses etc. All online payments for the purchase of jewellery online made via site are secured using ssl certificates for all pages right from user profile page to product detail page to the page leading to payment gateways, integration of reputed and well established payment gateways, session tracking mechanisms etc.

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