1. ELECTRONIC
PAYMENT SYSTEM
MADE BY:
Sheetal Goel

2. WHAT IS ELECTRONIC PAYMENT
SYTEM?
 Electronic payment is the process where customers make
payments by using electronic methods.
 E-commerce sites use electronic
payment, where electronic payment
refers to paperless monetary
transactions.
 Digital Payments in India to grow
to 71.7% of all payment transactions
by 2025: Report

3. PAYMENT GATEWAY
 A payment gateway is an online payments’ service that, when
integrated with the e-commerce platform, is devised as the
channel to make and receive payments.
 A payment gateway should offer numerous benefits, namely,
quick settlement of payments, the hassle-free flow of
transactions, secure transaction, various payment options,
great customer experience and a superb overall experience
every time.

4. WORKING OF PAYMENT
GATEWAY

5. PROS AND CONS OF USING AN E-
PAYMENT SYSTEM
PROS:
 Quick and Convenient
 Ease of Use
 Expenses control for
customers
 One-click Payment
 Increased Sales
CONS:
 Fraud Concerns
 Increased Business
Costs
 The need for internet
access
 The lack of anonymity

6. TYPES OF E-PAYMENT SYSTEM
1. CREDIT CARD
 Payment using credit card is one of most common mode of
electronic payment.
 Credit card is small plastic card
with a unique number attached
with an account.
 When a customer purchases a product via credit card,
credit card issuer bank pays on behalf of the customer and
customer has a certain time period after which he/she can
pay the credit card bill.

7. 2. DEBIT CARD
 Debit card, like credit card, is a
small plastic card with a unique
number mapped with the bank
account number.
 The amount gets deducted from the card's bank account
immediately and there should be sufficient balance in the
bank account for the transaction to get completed.
 Cards are currently the most-used payment method for
online shopping in India, representing 29 percent of
transactions, or $10.6 billion in sales.

8. 3. SMART CARD
 Smart card has a
small microprocessor chip
embedded in it. It has the
capacity to store a customer’s work-related and/or
personal information. Smart cards are also used to store
money and the amount gets deducted after every
transaction.
 Smart cards can only be accessed using a PIN that every
customer is assigned with. Mondex and Visa Cash cards
are examples of smart cards.

9. 4. E - WALLETS
 E-wallet is a type of
pre-paid account in
which a user can store
his/her money for any
future online transaction.
 An E-wallet is protected with a password. With the help of
an E-wallet, one can make payments for groceries, online
purchases, and flight tickets, among others.
 Popular E - wallets are - Paytm, Google Pay, Amazon Pay,
JIO Money, Freecharge, Yono SBI, Airtel Money, Payzapp.

10. 4. GIFT CARDS
 A gift card is a prepaid
card often used as a
marketing tool by
e-commerce sites.
 These are generally purchased by customers for gifting
purposes. The receiver may redeem the gift card amount
on their purchase from the said ecommerce store.
 Amazon is the most popular
gift card followed by cards
from Visa, Walmart , Target
and iTunes.
