What are the high risks in online payment processing?

Hello Friends,

Online business and online shopping is on trend.
We all use online payment processing methods for our buying and selling purpose.


Can you guys list down the risk associated with online payment processing?

There are not much risks involved as the website is encrypted also the payments is processed through banks or reputed organisations. However, there are chances for double payment or payment failures.

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Originally Posted by subasan

There are not much risks involved as the website is encrypted also the payments is processed through banks or reputed organisations. However, there are chances for double payment or payment failures.

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Thank you for sharing this information, How can we avoid double payment and payment failures?

Thanks for your interest. It can be an error from both the ends - merchant as well as customer. In terms of customer, either your input credentials might go wrong which will result in payment failures. Double payment maybe due to the time delay taken for your first initial payment (might be an payment failure too) and you've made the same payment again. Whereas in this case, one of your payments can be revered easily by contacting your bank. There are certain websites with a poor maintenance which results in payment failures or double payments also this can be intentional too.

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Originally Posted by subasan

Thanks for your interest. It can be an error from both the ends - merchant as well as customer. In terms of customer, either your input credentials might go wrong which will result in payment failures. Double payment maybe due to the time delay taken for your first initial payment (might be an payment failure too) and you've made the same payment again. Whereas in this case, one of your payments can be revered easily by contacting your bank. There are certain websites with a poor maintenance which results in payment failures or double payments also this can be intentional too.

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Thank you for this well explanation.From your explanation one thing is clear we can't control this unexpected payment failures and double payments.If the double payment is intentional Can we take action against it?

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Originally Posted by Bhavya

Hello Friends,

Online business and online shopping is on trend.
We all use online payment processing methods for our buying and selling purpose.


Can you guys list down the risk associated with online payment processing?

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there are a lot of risks we have to go through, sometimes the exact thing what you orederd for won't be on time where as sometimes you won't even receive it.

That's a good question. However, you'll have no idea if that's intentional or a normal error. Yet if you proceed further, you'll end up at lose ends only. And also our first intention is to get our money back rather than digging deeper :P

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Originally Posted by subasan

That's a good question. However, you'll have no idea if that's intentional or a normal error. Yet if you proceed further, you'll end up at lose ends only. And also our first intention is to get our money back rather than digging deeper :P

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Haha, you're right by digging it we only end up losing our time without gathering any appropriate information, Anyway if the double payment is intentional we are never going to get our money back. Then it's better to save our time and energy.

You can contact your bank for reversal of single payment as both the amounts will be the same. Your bank can do it for you.

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Originally Posted by subasan

You can contact your bank for reversal of single payment as both the amounts will be the same. Your bank can do it for you.

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That's great, Thank you for sharing this information here!