Online Transactions - Fear or Fear Not?

When purchasing items from merchants online, you want to be assured that your credit card information is safe. I was recently a victim of online fraud, and fortunately my bank was able to credit the transaction and replace my card with a new account number (since the charges were recurring). This process is frustrating and can put a significant dent in your account until your bank figures out how to best deal with it.

Here are some quick tips and recommendations for making sure your online transactions are safe and secure. Note: This doesn't cover EVERY possible transaction, so be sure you read the fine print before processing payment with ANY unfamiliar merchant!

- Once you are asked to enter payment info has a secured (SSL) feature. An easy way to check this is to look at your browser bar and make sure it begins with https, not http.

- Look for verified merchant credentials such as Verisign, usually on the home page.

- Be skeptical of miles of agreement forms. Those lengthy forms can contain 3rd parties (such as safedebits.com) that will be given consent to charge you a fee (sometimes upwards of hundreds of dollars) in order to process your transaction.

For more info on risk of frauds and scams on Craigslist and eBay, check out the following links from the Geeks:

Does Craigslist Need Better Regulation?

Fraud and Scams on Craigslist Pt. 2

Alternative Online Payment Options: Here to Stay?

In light of eBay's billion-dollar acquisition of BillMeLater, which cut 1,000 jobs - are alternative online payment options here to stay? These solutions might attract consumers who are hesitant about placing a large purchase on a debit or credit card. PayPal has offered credit solutions for its customers but now eBay is banking on its own merchant services.

But what if you could offer your customers your products for free for things that they apparently want to do anyway? It turns out that you could get paid as if customers purchased from you directly. This is where alternative payment companies like TrialPay, Webloyalty and Affinion help. TrialPay is a different kind of alternative payment, a conversion tool for the large numbers of customers who ordinarily would not pay. Just as BillMeLater can help convert a customer who might not have enough cash to make a purchase, TrialPay helps convert customers who wouldn't normally purchase -- period -- by allowing those customers to "pay" when they transact with a trusted partner for which they have a high willingness to pay. Those companies pay TrialPay for the customer acquisition, which covers the cost of the product or discount you give away to the customer.

My two cents: As people continue to struggle through our country's economic crisis, these options offer assistance to those whose budgets are tighter than ever. However, there is definitely much concern when the decision results in significant job loss for workers.

Are online auctions fading?

Let's face it - the online marketplace has changed drastically over the past decade. Ebay's revenue is down, considerably, and they are in a desperate state of overhaul.

Read this to learn more about the future of eBay.