With business shifting to the internet, the method of making payments has as well. Online payment systems provide businesses and customers with the ability to securely transfer money over the internet. Payment processing services are making paying for things on the internet faster and safer than ever.
E commerce is booming, as it includes business to business transactions. This is different than online shopping because online shopping typically only involves consumer purchases. One third of e commerce business in 2011 dealt with online travel and flight booking services. Online payment systems have made online credit card processing doable, which allows people to pay for something without being at an agency or store.
Many of the businesses that make B2B payments and are an active part of the “financial supply chain” include commercial banks, ERP vendors, business process outsourcing firms, and solution providers for billing and collections. The Payment Card Industry Data Security Standards (PCI DSS) are applicable to all merchants or organizations that stores, transmits or accepts cardholder data. The number of transactions does not matter.
Online payment systems provide a way for organizations and people to conduct business with ease and security. The internet is a place full of possibilities, and ensuring that those possibilities are not dangerous allows businesses to maximize the potential of the good possibilities. See this link for more references.