Scribd
Upload
12 views9 pages

Information Technology Sybaf: 301 Durva Golatkar 302 Siddhi Aggarwal 303 Mousam Sodhi 304 Siddhi Abgul 305 Avani Mahadik

The document discusses electronic payment systems used in e-commerce, highlighting their advantages such as instant payment, security, and low transaction costs. It outlines various types of electronic payments including credit cards, debit cards, e-money, and e-wallets, while also noting some disadvantages like processing fees and the need for merchant accounts. The conclusion emphasizes the transformative impact of electronic payments on financial transactions and their growing integration into daily life.

Uploaded by

Aditi Mahadik
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
12 views9 pages

Information Technology Sybaf: 301 Durva Golatkar 302 Siddhi Aggarwal 303 Mousam Sodhi 304 Siddhi Abgul 305 Avani Mahadik

The document discusses electronic payment systems used in e-commerce, highlighting their advantages such as instant payment, security, and low transaction costs. It outlines various types of electronic payments including credit cards, debit cards, e-money, and e-wallets, while also noting some disadvantages like processing fees and the need for merchant accounts. The conclusion emphasizes the transformative impact of electronic payments on financial transactions and their growing integration into daily life.

Uploaded by

Aditi Mahadik
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 9

RAMANAND ARYA D.A.V.

COLLEGE
INFORMATION TECHNOLOGY

SYBAF
301 Durva Golatkar
302 Siddhi Aggarwal
303 Mousam Sodhi
304 Siddhi Abgul
305 Avani Mahadik
TOPIC

information technology
ELECTRONIC PAYMENT SYSTEMS
E-Commerce or Electronics Commerce sites use electronic payment where electronic payment
refers to paperless monetary transactions.
Electronic payment has revolutionized the business processing by reducing paper work,
transaction costs, labour cost.
Being user friendly and less time consuming than manual processing, helps business organization
to expand its market reach/ expansion.

1) CREDIT CARD
2) DEBIT CARD
3) SMART CARD
4) E- MONEY
5) ELECTRONIC FUND TRANSFER (EFT)
6) E- WALLET
TYPES OF ELECTRONIC PAYMENT
E-cash / E-money :
• A system that allows to pay for goods or services by
transmitting a number from one computer to
another.
• Like the serial number on real currency notes, the
e-cash number are unique.
• This is issued by a bank and represents a specific
sum of real money.
• It is anonymous and reusable.

E-Wallet :
• The e-wallet is another payment scheme that
operates like a carrier of e-cash and other
information.
• The aim is to give shopper a single, simple, and
secure way of carrying currency electronically.
• Trust is the basis of the e-wallet as a form of
TYPES OF ELECTRONIC PAYMENT
Smart card :
• A smart card, is any pocket -sized card with embedded
integrated circuits which can process data.
• This implies that it can receive input which is processed and
delivered as an output.

Credit card:
• It is a plastic card having a magnetic number and code on it.
• It has some fixed amount to spend.
• Customer has to repay the spend amount after sometime.

Debit card:
• Similar to credit card on carding and encryption.
• Purchase limit depends on the available balance in the account.
ADVANTAGES
In an era where customers can make payment online or in person
using cards and mobile devices, the advantages of e-payments speak
for themselves. However, if you’re still of the mindset that cash is king,
these indisputable advantages of e-payments might just change your
mind.
• Instant payment
• Secure and affordable
• Take recurring payment
• Get edge over your
competitors
• Variety of payment choices
• Low transaction costs
• Reaching global audience
DISADVANTAGES
 You have to pay a processing fee to accept plastic and
some other electronic payments.
 If you use a traditional physical credit card terminal,
monthly or annual fees might apply.
 Some payment processing services lock you into
contracts that are costly to terminate early.
 To accept credit cards you usually need a merchant
account, which is a bank account where payments are
deposited. Many electronic payment systems include
one as a built-in feature. Note that you don’t need a
merchant account if you use third-party processor such
as PayPal.
CONCLUSION
Electronic payment methods have revolutionized the
way financial transactions are conducted in today's
digital age. The convenience, speed, and security
offered by these methods have significantly impacted
the way individuals, businesses, and economies
function. As technology continues to advance,
electronic payments are likely to become even more
integrated into our daily lives, further reducing our
reliance on traditional cash-based transactions.

You might also like