Online Payments – The Digital Purse for Shopping

There are several options of transferring cash in Online Shopping. It could be through payment gateways, net banking, debit and credit cards. Each has its own advantages and levels of approval by merchants. The most common of them are:

  • Debit/Credit cards
  • Digital cash through Payment gateways
  • Direct Cash Transfer
Online Shopping

Online Shopping In Nigeria

Through Cards: 

A large portion of internet transactions are conducted through debit and credit cards.  When you choose this option, you will be transferred to a gateway, over where you will be asked to select your bank or financial institution. Then you can enter your card’s number followed by your unique password. Note the amount you wish to spend, and your transaction is over; that’s right, within seconds!



The transactions are quick and requires no mediators. For the seller, the investment is minimal, yet it reaches the maximum population. Any buyer, anywhere in the world and at any time, can make purchases, with currencies of his or her choice. Hence businesses have larger sales and huge popularity.

All that a business firm needs to do is to become an authorized credit card merchant. This is done by sending an application to a merchant account provider. The necessary hardware and hardware required for this process, will be provided by them.

Advantages for the buyer include no standing in long questions, no unnecessary hassle by salesmen, as well as many options to choose from. The goods are delivered to the address he or she is comfortable with; there is no need to even go to the store!



Most online merchants have been verified to have secure gateways. However, there still may be fraudulent merchants, who take the payment from you, but do not deliver the goods. There is no fool-proof guarantee for such transactions.


Direct Bank Transfer: 

Another simple option, in which you can transfer money directly from your bank account to the seller’s account.  In the same manner as the previous option, you will be redirected to a gateway, where you will have to share your account number and other details. You can add the specific details of the merchant, you wish to purchase from. An online receipt will be created, as a note of verification.

Physical goods will be transferred to the address mentioned, while products in digital format can be downloaded. On the part of the seller, the sharing of the customer’s bank details, furnish several details to keep in touch with him or her.

For example, the customer’s phone number, residential address, date of birth and even more. The seller procures an advantage of keeping in constant touch with the customer, in order to achieve further sales from the same source.

All online transactions share the same issues of security and privacy. However, several precautionary measures are available, and most of the online merchants’ authenticity verified. Though, customers are still advised to choose wisely.


Digital cash through Payment gateways

Having been introduced in the last couple of years, this trend is rapidly conquering the field of online shopping in Nigeria. A payment gateway is nothing but a digital intermediary. It serves as a nexus between the bank accounts of the buyer and seller.

The main advantage of a payment gateway over direct bank transfer is that the former does not reveal your personal as well as banking details. Neither your name nor your contact details nor your account details are passed to a third person.


To summarize:

Online shopping is not a ‘try-and-throw- process and has many takers with business houses and customers alike, all across the world. Several merchants have devised innovative methods, to make shopping a pleasurable, as well as an entertaining experience for customers.


Author Bio:

Mathew Edwards is a free style article writer who prefers to write articles or blogs and websites.

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