Emerging payment challenges

As the Business-to-Consumer (B2C) commerce model progresses, further complex requirements will be made on the payments software of the future. The following sections,suggested by software development companies, outline real-life payments scenarios that will require electronic payments solutions in any payment system of the future.

Manufacturers’ coupons

When customers purchase products from Internet or ecommerce development company , at that time they can use manufacture coupons to discount the amount. The coupons often have expiration date.

For supporting these feature the payment system require to be have knowledge of the item details of shopping cart so that the coupon can be authorized and redeemed for payment.

Deferred credit 

Retails sector provide buy-now, pay –later offers same way online store also provide same concept over Internet.  Customer provide details of credit card and direct payment would need to be collected by commerce store and a method of indicating to the payment system that the purchase is a deferred credit purchase  Decisions on where the order would lie dormant would need to made. The e-commerce system not holds the information. Therefore the merchant would require some form of authorization check on the consumer’s payment details before the goods were released to the customer.

Multiple payments installments 

Many time customers want purchase product on EMI base. In online store they provide such facility only on debit card. The challenge is how to provide multiple payments installments and how the payment does keeps system track of the regular payments and notify the merchant/consumer of any failures.