In addition to online banking, electronic credit cards and other payment methods, there is another way to relatively reduce the risk of online payment, that is, to use the payment method and payment process of a rapidly developing third-party organization, and this third-party organization must have certain integrity. In practice, this third party institution can be a bank that issues credit cards. In online payment, the disclosure of credit card number and password is only transferred between the cardholder and the bank, which reduces the risk brought by the transfer through merchants.
Similarly, when the third party is an institution with good reputation and technical support ability other than the bank, payment is also made between the cardholder or customer and the bank through the third party. The cardholder first transmits the account information with a third party in the form of some electronic data (such as mail), instead of the bank account number, which prevents the cardholder from revealing the bank information directly to the merchant. In addition, you don't need to log in to different online banking interfaces, but you can see a relatively familiar and simple interface for third-party institutions every time you log in.
Third-party institutions and major banks have signed relevant agreements, so that third-party institutions and banks can exchange data and confirm relevant information in some form. In this way, third-party organizations can establish payment processes between cardholders or consumers and banks, as well as between ultimate recipients or merchants.
Tips: The above contents are for reference only.
Response time: 2021-12-01. Please refer to the latest business changes announced by Ping An Bank in official website.