The Internet has taken its place beside the telephone and television as an important part of people's lives. Consumers use the Internet to shop, bank and invest online. Most consumers use credit or debit cards to pay for online purchases, but other payment methods, like "e-wallets," are becoming more common.

 

The internet is being used more and more to buy items and services online. Increased online purchases have resulted in more payments being made online. While credit cards are quite popular for paying for items online, debit cards are also gaining popularity. Debit cards automatically debit your bank account at the point of sale. Usually your debit card is your automated teller machine (ATM) card and frequently requires the use of a personal identification number (PIN).

Besides paying online for items or services, some banks and trust companies allow their customers to pay their monthly bills online such as a phone bill or credit card bill. This is done by permitting you to transfer funds directly from your account to pay for these bills.