Online payments have been around for some time but the acceptance of it has increase dramatically over the years. But just like with anything it has its pro’s and cons. You can pay just about any bill online from daycare expenses to even your hair styles. Banks offer their online bill payment services free to their customers. And let’s face it… Who doesn’t like something for free? Think about it for a second when was the last time you mailed in a payment or dropped your payment off? I’m willing to bet it has been months and maybe years for some of you. What do you think the reason is for the raise in the use of online payments? In fact because of the use of online payments the US Postal service has had to close down serial post offices. Do you think the US Postal service could have been more proactive and should have foreseen how this would affect their business? Do you think the cost of postage has anything to do with it people turning away from the postal service? Now back to the pros and con’s of the wonderful world of online payments. We will cover the pros of online payments first. Make sure you check back to hear the cons of online payments.
Pros:
Time Management- I don’t know about you but I’m a busy mom! All my bills are on auto draft so I don’t have to worry about it. Less time paying bills and more time with my family! It takes just seconds! No more written out checks and buying envelopes.
Convenience- You can just log on and pay anytime, day or night. We all are busy with all the things that life throws at us. It just takes seconds to set up your payment and after that you can have your payment scheduled to be paid every month.
Saves Money & Gas- with the price of postage on the raise! Why pay for a stamp when you can pay online for free Using an online bill payment service eliminates the need to pay for postage, and envelopes.
Avoid Late Fees- you don’t have to run to mail box to insure that your payment gets to where it is going in time. Now you can just set up auto draft or simply login and pay the day that your bill is due. You can set up online reminder services so you will never miss a payment again.
Less Paper- gone is the days of paper checks and receiving your bills in the mail. Now that the US
Security- Most people feel more comfortable paying via online payments with their bank vs. putting a check in the mail. Your bank’s online payment service is more secure then placing your check in the mail and hoping that it makes it there. The money is taking right from your account and reflects in your account as soon as you make the transaction.
Make sure you check back and please post to our blog!!! We want to hear your thoughts J
Source(s):
Laudon, Kenneth C. and Jane P. (2012) Management Information Systems: Managing the Digital Firm. (Twelfth Edition)
If you are a merchandiser or businessman, then you can be worried of the payment system. Although there are many pros and cons to using the system of online payment. But you can try www.merchantinc.com which is best and well-known online payment system.
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