Types Of E Payment System

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Types of e payment system.

Credit card is small plastic card with a unique number attached with an account. Credit card a form of the e payment system which requires the use of the card issued by a financial institute to the cardholder for making payments online or through an electronic device without the use of cash. The service lets customers make prepayments and bank transfers to cover online payments. An electronic payment is any kind of non cash payment that doesn t involve a paper check.

The customer has to just enter their credit card number and date of expiry in the appropriate area on the seller s web page. A common type of payment system is called an operational network that links bank accounts and provides for monetary exchange using bank deposits. Types of e payment system one of the most popular online payment methods are credit and debit cards. Stored value card a card with a certain amount of money that can be used to perform the transaction in the issuer store.

A typical example of stored value cards are gift cards. The different types of e commerce payments in use today are. Electronic payment system it an e commerce environment payments take the form of money exchange in an electronic form and are therefore called electronic payments electronic payments e payments are an integral part of e commerce and are one of its most crucial aspects. Still one of the most popular e payment methods are credit and debit card payments.

Payment using credit card is one of most common mode of electronic payment. Electronic payment systems types there are several ways of transferring money from a bank or credit account to another user. This includes the institutions instruments people rules procedures standards and technologies that make its exchange possible. Methods of electronic payments include credit cards debit cards and the ach automated clearing house network.

E cash is a form of an electronic payment system where a certain amount of money is stored on a client s device and made accessible for online transactions. The ach system comprises direct deposit direct debit and electronic checks e checks. Electronic payment system electronic payment is a form of a financial exchanger that take place between the buyer and. Paypal is the leader in this arena with more than 200 million active users.

Credit card the most popular form of payment for e commerce transactions is through credit cards. It has also a magnetic strip embedded in it which is used to read credit card via card readers. A payment system is any system used to settle financial transactions through the transfer of monetary value.