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E - Payment Methods

This document discusses various e-payment methods, including traditional payment systems, internet-based payment systems, and specific methods like credit cards, debit cards, smart cards, and digital cash. It outlines the key features of payment systems, factors driving financial institutions to adopt e-payments, and categories of e-payment technologies including retailing payments and e-banking. The document also compares traditional in-person payments with problems to online payment systems and their authorization and settlement processes.

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Heta Desai
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915 views15 pages

E - Payment Methods

This document discusses various e-payment methods, including traditional payment systems, internet-based payment systems, and specific methods like credit cards, debit cards, smart cards, and digital cash. It outlines the key features of payment systems, factors driving financial institutions to adopt e-payments, and categories of e-payment technologies including retailing payments and e-banking. The document also compares traditional in-person payments with problems to online payment systems and their authorization and settlement processes.

Uploaded by

Heta Desai
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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E- Payment Methods

Introduction
Traditional Payment System
Internet Based Payment System
1. Credit Card
2. Debit Card
3. Smart Card
4. Digi Cash/ E Cash
5. E Cheques
Introduction
Payment system: system for transfer of money
Service which allows Business Parties to pay
directly via Telecommunication system
E Payment is a financial exchange that takes
place online between buyers and sellers
Such exchange involves digital financial
instrument Encrypted Credit card numbers,
E Cheque or Digi cash backed by bank or 3rd
Party payment systems
It is a method in which payments are made
for online purchase without any physical
transfer of cash
Factors that lead financial Institutions to
make use of E-payments are:
Decreased technology cost
Reduced operational and processing cost
Increasing online commerce
Categories of E payment
Technology
Retailing Payments
E-Banking
Direct Payment
Traditional Payment
System
Includes Drafts, Credit Cards and
other Charge Cards and EFT
Main aspect Physical transfer of cash
Problems:
1. Lack of convenience
2. Lack of Security
3. Lack of Coverage
Lack of Coverage
Lack of eligibility
Internet based Payment
systems
Online payment process is divided
as follows:
1. Authorization
2. Settlement
Online Payment types amd
Media
Types:
E-cash
E-cheques
E-Credit
Media:
Trusted third Party
Digital cash or E Money
Notational Fund Transfer
Credit card
Preset spending Limit based on
users Credit limit
It is a plastic money which contains
identifying information about the
credit card allocated to the holder
Credit card allows to pay for
purchases or services by borrowing
from the credit card company
Charge Cards eg: American
Express
Credit card Payment online
can be :
Payment using Plain Credit card
information
Payment using encrypted Credit
card details
Payment using third party
verification
Advantages
Flexibility
Accuracy
Convenience
Cheaper
Disadvantages
Users can Overspend
Credit card spending is essentially
borrowing Interest is charged
Inconvenience if lost or stolen
If remote access risk of
information leakage

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