One of the most defining factors of eCommerce is the ability to place your order and make your payment secured electronically.
Payment methods can be categorized into
- Online payment methods
- Offline payment methods
Online payments constitute all payment methods where payment for your order is completed on the website and confirmed automatically.
Offline payments on the other hand refer to all payment methods where the payment cannot be immediately confirmed within the website. This is due to the fact that the payment method is not integrated into the website’s systems.
For example, let’s take Kikuu, once an order is placed, the payment method selected requires you to enter your payment details, leading to the amount being deducted instantly from your bank or mobile money account and Kikuu instantly confirming that your payment has been received, that is usually an online payment method.
On the other hand, if the payment method selected requires you to pay in cash, or manually transfer the amount to a particular bank account or mobile money wallet, that is an offline payment method.
Most eCommerce websites now have seen the benefits of online payments and are shying away from that of offline payments.
The most popular offline payment method offered was cash! This encompassed both cash on delivery payments and cash payments in-store.
Check out subsequent posts on in-depth details on both online and offline payment methods in Ghana