Paying for Goods and Services
Traditionally, you may have paid in cash, by cheque or by credit/debit card. With E-Commerce a credit card and some form of electronic banking system is required.
Businesses using the Internet to trade will generally have online banking facilities to receive and make payments. Normally, consumers will simply enter their card information via the vendor's website.
Individual consumers who want to make or receive electronic payments can use the services provided by PayPal(r) which is a company that provides electronic payment facilities. This is particularly useful for online auctions such as Ebay.
Rather than entering your card details each time you make a purchase, you simply add your PayPal account details. Generally speaking, this is easier and more likely to be secure. You can get more information on Paypal, and create a PayPal account if you want to, by visiting their site at https://www.paypal.com/
Notice that the web address (URL) starts https and not the normal http. If you were to type http the PayPal server would add the 's' for you. This indicates the connection is secure. This topic will be covered in more detail in Outcome four.