The internet has emerged as the largest marketplace and source for information. It is estimated that about a million people are being introduced to the internet every 100 days.
This included emails and search engine services. In fact, surveys have shown that 80% of all online sales begin as a search on some major search engine.
It is possible for a business establishment to advertise, sell and collect payments online without ever having to meet the customer personally.
Technology has advanced with such a rapid pace in the past ten years that electronic payments have become the norm of the day. More than 40% of payments are transacted electronically through credit and debit cards, apart from the usual wire transfers and online payment portals.
One of the emerging payment methods is through mobile phones. It is fast catching on and experts in the field feel that this is going to be the preferred payment method worldwide. Paying through your mobile handset will be as easy as sending an SMS.
With these advancements and most businesses adapting their payment procedures and policies to suit customers conveniences, it is only advisable in the...
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