Methods and systems for online purchase of items in increased online traffic

1. A method, comprising:

receiving, by a server system via a merchant interface, an online purchase request from an electronic device associated with a customer, the online purchase request comprising payment related information of a payment card associated with the customer for purchasing at least one item at a set price;

determining that current online traffic is greater than a threshold traffic level;

responsive to determining that the current online traffic is greater than the threshold traffic level, sending a One-Time Password (OTP) request to a payment server associated with a payment network;

receiving an OTP from the payment server;

storing the OTP as a merchant OTP in a database accessible to the server system;

facilitating sending the OTP to a registered contact identifier of the customer;

providing an option to the customer to input a customer OTP in the merchant interface; and

upon receipt of the customer OTP from the customer, locking, responsive to the current online traffic and prior to submitting a payment transaction using the payment related information, an online purchase order of at least one item for the set price, wherein the payment transaction from the payment card is initiated after online traffic is less than the threshold traffic level.

2. The method as claimed in claim 1 , wherein the the at least one item is offered for sale at the set price which is less than a standard price of the at least one item, and when an increased online traffic is expected at the server system.

3. The method as claimed in claim 2 , further comprising facilitating the payment transaction after the sale at the set price.

4. The method as claimed in claim 3 , wherein facilitating the payment transaction comprises:

sending a payment transaction request and the merchant OTP to the payment server, wherein the payment server sends the payment transaction request and the merchant OTP to an issuer server associated with the payment card;

sending the customer OTP to the issuer server, and

receiving, upon validation of the customer OTP and the merchant OTP, a notification of payment confirmation from the payment server.

5. The method as claimed in claim 3 , wherein the validation of the customer OTP and the merchant OTP comprises a determination of whether the customer OTP and the merchant OTP are matching.

6. The method as claimed in claim 4 , upon failed validation, sending a notification requesting one or more alternate payment options to complete the payment transaction.

7. The method as claimed in claim 1 , wherein the registered contact identifier is a registered contact number of the customer, and wherein facilitating sending the OTP comprising sending the OTP via Short Message Service (SMS) to the registered contact number of the customer.

8. The method as claimed in claim 1 , wherein the registered contact identifier is a registered Email Identifier (Email ID) of the customer, and wherein facilitating sending the OTP comprising sending the OTP in form of an Email to the Email ID of the customer.

9. The method as claimed in claim 1 , wherein storing the OTP as the merchant OTP comprises encrypting the OTP with a public key of an issuer server associated with the payment card.

10. The method as claimed in claim 1 , wherein encrypting the OTP provided to the customer comprises:

encrypting the OTP using a public key of an issuer of the payment card; and

storing the customer OTP for the payment transaction.

11. The method as claimed in claim 4 , wherein sending the customer OTP further comprises encrypting the customer OTP.

12. The method as claimed in claim 1 , further comprising sending a notification in the merchant interface, wherein the merchant interface is accessible via an application installed in the electronic device of the customer, wherein the notification comprises one or more of: a notification that online purchase order is locked, a notification of completion of the payment transaction, and a notification of failure of payment transaction, and a notification to use an alternate payment option in case of failure of payment transaction.

13. A server system, comprising:

a memory comprising stored instructions; and

a processor configured to execute the stored instructions to cause the server system to:

receive, via a merchant interface, an online purchase request from an electronic device associated with a customer, the online purchase request comprising payment related information of a payment card associated with the customer for purchasing at least one item at a set price;

determine that current online traffic is greater than a threshold traffic level;

responsive to the determination that the current online traffic is greater than the threshold traffic level, send a One-Time Password (OTP) request to a payment server associated with a payment network;

receive an OTP from the payment server;

store the OTP as a merchant OTP in a database accessible to the server system; facilitate a send of the OTP to a registered contact identifier of the customer; provide an option to the customer to input a customer OTP in the merchant interface; and

upon receipt of the customer OTP from the customer, lock, responsive to the current online traffic and prior to submission of a payment transaction using the payment related information, an online purchase order of at least one item for the set price, wherein a payment transaction from the payment card is initiated after online traffic is less than the threshold traffic level.

14. The server system as claimed in claim 13 , wherein the the at least one item is offered for sale at the set price which is less than a standard price of the at least one item, and when an increased online traffic is expected at the server system.

15. The server system as claimed in claim 14 , wherein the server system is further caused to facilitate the payment transaction after the sale at the set price.

16. The server system as claimed in claim 13 , wherein to facilitate the payment transaction, the server system is caused to:

send a payment transaction request and the merchant OTP to the payment server, wherein the payment server sends the payment transaction request and the merchant OTP to an issuer server associated with the payment card;

send the customer OTP to the issuer server; and

receive a notification of payment confirmation from the payment server, upon validation of the customer OTP and the merchant OTP.

17. The server system as claimed in claim 13 , wherein the validation of the customer OTP and the merchant OTP comprises a determination of whether the customer OTP and the merchant OTP are matching.

18. A method, comprising:

receiving, by a server system via a merchant interface, an online purchase request from an electronic device associated with a customer, the online purchase request comprising payment related information of a payment card associated with the customer for purchasing at least one item at a set price;

determining a current online traffic at the server system;

upon the current online traffic being greater than a threshold traffic level, sending a One-Time Password (OTP) request to a payment server associated with a payment network;

receiving an OTP from the payment server;

storing the OTP as a merchant OTP in a database accessible to the server system; facilitating sending the OTP to a registered contact identifier of the customer;

providing an option to the customer to input a customer OTP in the merchant interface;

upon receipt of the customer OTP from the customer, locking, responsive to the current online traffic and prior to submitting a payment transaction using the payment related information, an online purchase order of the at least one item for the set price; and

transmitting a request comprising the payment related information to initiate processing of the payment transaction for the locked online purchase order after online traffic is less than the threshold traffic level, wherein processing of the payment transaction comprises validating the merchant OTP and the customer OTP provided as input by the customer.