technology

1. ELECTRONIC
PAYMENT SYSTEMS
-SCULLY D’SOUZA

2. WHAT IS ELECTRONIC PAYMENT
SYSTEMS?
• Electronic Payment is a financial exchange that takes place online between buyers and sellers. The
content of this exchange is usually some form of digital financial instrument (such as encrypted credit
card numbers, electronic cheques or digital cash) that is backed by a bank or an intermediary, or by a
legal tender. The various factors that have lead the financial institutions to make use of electronic
payments are: Decreasing technology cost, Reduced operational and processing cost, Increasing online
commerce.
• An e-commerce payment system facilitates the acceptance of electronic payment for online
transactions. Also known as a sample of Electronic Data Interchange (EDI), e-commerce payment
systems have become increasingly popular due to the widespread use of the internet-based shopping
and banking.

3. CREDIT CARDS

4. CREDIT CARDS
The most common form of payment for e-
commerce transactions is through credit
cards. To use this system, shoppers simply
enter their credit card number and date of
expiry in the appropriate area on a web page.
Increased security measures, such as the use
of a card verification number (CVN), located
on the back of the credit card, have been
added to on-line credit card payment systems.
The CVN system detects fraud by comparing
the CVN with the cardholder's information
as supplied by their bank.
http://www.loansindubai.net/images/credit4.jpg

5. DIGITAL WALLETS

6. DIGITAL WALLETS
A digital wallet, or e-wallet, is another type of e-
commerce payment system. Much like a physical
wallet, a digital wallet can store your personal
information and payment. However, digital wallets are
stored within your PC. Once the software is installed
on your digital wallet, enter your personal
information, such as your name and billing address,
then connect it to your banking information so you
can use it to withdraw funds from your account(s)
when making on-line purchases. When you're at the
check-out page of an e-commerce site, the digital
wallet can automatically enter your personal and
banking information into the appropriate areas.
https://techinfographics.com/wp-
content/uploads/2015/12/Google-Wallet.jpg

7. CITATION AND REFERENCES
• Electronic Payment Systems:. (n.d.). Retrieved January 03, 2017, from
https://webservices.ignou.ac.in/virtualcampus/adit/course/cst304/ecom2.h
tm
• E-commerce payment system. (n.d.). Retrieved January 03, 2017, from
https://en.wikipedia.org/wiki/E-commerce_payment_system
• Types of eCommerce Payment Systems. (n.d.). Retrieved January 03,
2017, from https://www.techwalla.com/articles/types-of-ecommerce-
payment-systems