Universe is revolving! From games, dictionaries, books to shopping malls, everything has entered our smartphones and are awaiting for our finger touches to get operated. This mobile revolution opens up millions of options of trades, transfers, shoppings and other business interactions too. While everyone is using this opportunity of digitalisation the best way, so does the online shopping criteria.
Scrolling through innumerable products, checking the specifications, entering necessary details and then comes the main process of checking out! The process in which you enter an option for your payment of the purchased product. There’s where we are often either confused as to which option would be profitable, where in you can gain points or cash backs and earn while you spend or do the mobile banking transactions which just provides the funds from your accounts and hence you are worry free of paying anything later.
Checking out your purchases!
The benefits in these options can be tricky and changing with changing seasons and offers. For example when you shop from the end of the seasons sale from certain e-shopping sites, you get around 5% cashback on each purchased items. Sometimes the product expenditure has a limit, sometimes it doesn’t. Hence, the products you buy during that time should be best bought paying through those credit card options.
Credit cards are the most preferred mode of transfers on ecommerce sites. Whether its groceries or fashion shopping, credit card payments take a key role and offer max offers when used. Some of the time you get cashbacks from both the sides, from commerce site immediately and later as points gained through the cards.
Debit cards are a great option too. But the cash back offers for these are limited. You gain those points no doubt, and it’s sole benefit is that you pay from your savings, hence no issues of pending bills to be cleared. And limiting your shopping is another great benefit of using debit cards as checkout method too.
Online banking is similar to debit cards, but there’s no chance of gaining cashbacks or redeemable points at all. It’s just another mode of payment with no gain and no pain.
Cash on delivery(COD)
Cash on delivery can be tricky. It has its pros and cons equally. While you pay after checking the product you bought, there’s always a fuss about getting exact changes at the time of delivery. Again, there are absolutely no offers on cash on delivery mode of payments. Again, though buyers prefer cash on delivery on most of the electronics and gadget shoppings where they consider getting their products at home and then pay, there’s always a question of the honesty of the person delivering the order.
International/ national payment apps
Payments through online payment apps like paytm, mobikwik, PayPal are also quite trustworthy and preferred mode of payments. Even they offer handsome rewards on more purchases for the buyers and extra discounts on most of the products.
Hence, the next time you go in for a digital shopping spree, make sure you’re well versed with the above benefits and loss that you may get through your billing process.