Electronic Payment
(E-Payment) System
Prepared by: Lavin m.saeed
Des.2022

• Out line:
What is Electronic Payment System?
How do electronic payment systems work?
Security:
What are the types of electronic payment system?
What are the characteristics of an E-payment?
The different types of e-commerce payments in use today
are:
Advantages of E-payment:

Normally e-payment is done via debit cards, credit cards or direct bank
deposits. But there are also other alternative payment methods such as
e-wallets and cryptocurrencies.
What is Electronic Payment System?
Simply put, electronic payments allow customers to pay for goods and
services electronically. This is without the use of checks or cash.

Electronic payment systems work when people and electronic
technologies work together to move the payment information
instantly through a logical progression of steps – usually in just a
few seconds.
How do electronic payment systems work?
Let’s walk through these steps using the
book buying example.

Security:
credit card fraud is a common crime. That’s why credit card security is so
closely monitored. Almost every bank and store have built-in security
measures that regularly check that the cardholder is who they say they are.
But as with any online payment method, there are risks involved.

What are the types of electronic payment system?
An automatic payment
from the bank to the
vendor.
A one-time payment from the customer to the vendor.
A recurring payment from
the customer to the vendor.

It requires the use of electronic devices, such as computers or smart-phones ,to
initiate and complete transactions.
What are the characteristics of an E-payment?
It may offer additional features such as the ability to track and manage
finances ,as well as integration with other financial services.
It often offers real-time or near-real-time processing of transactions.
It typically uses secure protocols and encryption to protect the confidentiality and
integrity of financial information.

adredit Card
The different types of e-commerce payments in use today are:
Credit Card Debit Card E-Wallet Mobile Payment

Advantages of E-payment:
• Time-saving:-
• Efficient:-
• Security:-
• Certainty:-
• REDUCED TRANSACTION COSTS:-

Thanks
Thanks
Thank

Reference:
• https://bizfluent.com/info-8188352-advantages-disadvantages-epayment.html
• https://www.mineraltree.com/blog/electronic-payments-what-your-business-needs-to-know
• https://www.freshbooks.com/hub/payments/what-is-electronic-payment
• https://www.dbs.com/digibank/in/articles/pay/what-is-electronic-payment