OtherOctober 17, 2012

How To Make Online Transactions Secure

How To Make Online Transactions Secure

Millions of people use internet daily for different types of transactions. We all know how much important our Credit/Debit card information is when it comes to internet. For years after years number of fraudulent transactions increased and a need to setup a strong secure mechanism for online transactions was felt e.g. using SSL encryption. One of the ways we can avoid these problem is to eliminate the need to enter credit card information on web. This mechanism has been adopted by PayPal along with SSL encryption and has made it one of the top Payment Gateways.

What is PayPal

You can create your PayPal account for free and after that you would never have to enter your credit/debit card information at any online merchant where PayPal is accepted. You would just use your email address to make a transaction. All your credentials will be placed on PayPal’s server in a highly secure manner.  Here is what PayPal offers the best:

PayPal Features

  • Use it to purchase any item online where ever it is accepted
  • You do not have to share your financial information with any one
  • By purchasing through PayPal you get reward points and discounts
  • PayPal is not just for purchasing, but it serves like your online bank account. You can send or receive money to/from anybody. You can split payments the way you would like. In order to send payments you just need recipients email address which is not mandatory to be PayPal’s email id.  You can withdraw money from your PayPal account very easily apart from sending it to anywhere around the globe.
  • You can link your bank account or any other credit/debit card with PayPal. In case you do not have any money in your PayPal account, it will automatically deduct it from your account or other credit/debit card if you have added it.

PayPal have now developed a new mechanism of distributed and automated payments which is called Adaptive payments. It is an API developed by PayPal which provides greater flexibility in online transactions like splitting up payments into multiple payers in an automated manner, distributing payments into multiple payers, send or receive money to/from any account whether it is third party. Previously PayPal did not support it. There is another concept which is greatly helpful and that is chained payments, now with the help of adaptive payments you can execute this scenario such as you get 50% profit in which you would have to pay 15% to your service provider and he would some portion to someone else.

Adaptive payment is really an amazing feature from PayPal, we have developed an Paypal Adaptive Payments Magento Extension will write detailed blog on its features and concepts soon.