In the country today, we are greatly relying on the internet to purchase products that we need in our live. This has taken the country by storm like organizations like jumia where it is an online based store buy what you want pay on delivery or online through online platforms.
Platforms used to pay for good s online
There are different ways of paying for good s online like credit card, debit card, LIPA na MPESA
- A credit card, such as a Visa or a MasterCard, has a spending limit based on the user’s credit history; a user can pay off the entire credit card balance or pay a minimum amount each billing period
- A debit card looks like a credit card, but it works quite differently. Instead of charging purchases against a credit line, a debit card removes the amount of the sale from the cardholder’s bank account and transfers it to the seller’s bank account
- A charge card, offered by companies such as American Express, carries no spending limit, and the entire amount charged to the card is due at the end of the billing period. Charge cards do not involve lines of credit and do not accumulate interest charges.
- Electronic cash (also called e-cash or digital cash) is a general term that describes any value storage and exchange system created by a private (nongovernmental) entity that does not use paper documents or coins and that can serve as a substitute for government-issued physical currency
- An electronic wallet (sometimes called an e-wallet), serving a function similar to a physical wallet, holds credit card numbers, electronic cash, owner identification, and owner contact information and provides that information at an electronic commerce site’s checkout counter.
- Mobile Banking Direct Pay Online is the leading payment provider for online payment and mobile payment processing in Kenya. Offers a safe and secure credit card processing platform that enables customers to shop online and pay in real-time using credit cards, mobile money, or bank transfers.It works with the following mobile providers to support online payments in Kenya:M-Pesa, Airtel Money, Equity easy pay ,KCB app
By using these platforms buyers in Kenya enjoy shopping at a click of a button so firms should strive to place themselves online to maximize on the number of customers that are available