Vision Payments are central to the Internet and e-commerce. Payments tend to be viewed as a mere transaction processing function, which brings the attention to security and fraud issues. However, this vision leaves aside the greatest potential and the upside that can be generated from retail e-payments. Payment on the Internet is very sensitive, as most customers do not feel comfortable with it. Providing customers with secure, trustworthy and convenient Internet payment means will foster customer loyalty.
Payments constitute a very sticky and repetitive content.
This point of contact with customers at any e-commerce Point Of Sale provides a unique opportunity for retail banks and issuers, at each purchase, to cultivate brand awareness, trust and overall customer relationships. Facilitating customers financial control at the moment of payment will be an additional enhancer. Financial control results from the combination of a variety of payment means and easy access to payment-related information. The Internet provides a unique opportunity for retail banks and issuers to capture information surrounding a payment. This information provides reliable insight about customer behaviors.