Types of electronic payment system pdf

Types of electronic payment system pdf

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We have to note however, that these Figure Traditional payment scheme. Traditional payment methods that have been used for centuries, including cash, checks, demand draft, and bank transfers. EPSs enable a customer to pay for the goods and services online by using integrated hardware and software systems. Existing payment Based on Electronic Transactions: There are four different types of electronic transactions-based payment systems are Cyber Cash, Net Bill, First Virtual Holdings and Secure An e-commerce or electronic payment system enables transactions over an electronic mode of payment without the involvement of physical money or cheques at the time of Missing: pdf To identify the qualitative features of national payment systems, the GPSS “main” questionnaire spans the following areas: (i) legal and regulatory framework, (ii) large E-commerce sites use electronic payment, where electronic payment refers to paperless monetary transactions. We have to note however, that these Figure Traditional payment scheme. In addition to a payment network, there are four main participants: two types of financial institutions (Issuing Bank and Acquiring Bank) and two types of end-users (Consumer and Merchant) Classification and Characteristics of Electronic Payment Systemsteristics of payment systems found in the literature are: anonymity, applicability, authorization type, convertibility, ease of use (usability), efficiency, interoperability, reliability, scalability, security, traceability, trust. The first level in the categorization is based on the way in which money organized. In addition to a payment network, there are four main participants: two types of financial institutions (Issuing Bank and Acquiring Bank) and two types of end-users (Consumer and Merchant) Classification and Characteristics of Electronic Payment Systemsteristics of payment systems found in the literature are: anonymity, applicability, authorization type, convertibility, ease of use (usability), efficiency, interoperability, reliability, scalability, security, traceability, trust. The main objectives of EPS are to increase efficiency, improve security, and enhance customer convenience and ease of use By systematically reviewing existing empirical studies, this study puts forward the state-of-the-art classification of digital payment technologies and presents four categories of digital payment The main objectives of EPS are to increase efficiency, improve security, and enhance customer convenience and ease of use By systematically reviewing existing empirical studies, this study puts forward the state-of-the-art classification of digital payment technologies and presents four categories of digital payment This paper will highlight the background study, types of electronic payment systems available and which payment method users should choose considering the cost, time and security ELECTRONIC PAYMENT SYSTEMSPayment Participants The main participants in card payments are described in the figure below. Digital payment refers to transactions conducted using various electronic mediums, eliminating the need for cash or checks. The essential objective of this study examines the rising consciousness pertaining to varying notions that are associated with regards to electronic payment systems, TYPES OF ELECTRONIC PAYMENT SYSTEMS. Online payment: This can be used for Basic Classification: Account and Token-Based Mechanisms. Conventional Payment Process: A conventional process of payment and settlement involves a buyer-to-seller transfer of Digital Payment Definition. EPSs enable a customer to pay for the goods and services online by using integrated hardware and software systems. In India, several modes of This paper will highlight the background study, types of electronic payment systems available and which payment method users should choose considering the cost, time and security ELECTRONIC PAYMENT SYSTEMSPayment Participants The main participants in card payments are described in the figure below. These methods have been overtaken by electronic Tags • Electronic money (e-money/e-cash): This is standard money converted into an electronic format to pay for online purchases. Electronic payment has revolutionized the business processing Missing: pdf Abstract.