electronic payment system

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Electronic Payment System

Electronic payment system is a system which helps the customer or

user to make online payment for their shopping.

Requirements for E-Payments

Decreasing technology cost

Reduced operational and processing cost

Increasing online commerce

Some Examples of EPS

• Online Reservation

• Online Bill Payment

• Online order placing

• Online ticket booking

Types of EPS

E- WALLETSE- CASH

SMART CARDS CREDIT CARDS

E-cash processing

Bank

Merchant

Consumer

E-Wallet

Decide on an online site where you would like to shop.

Download a wallet from the merchant’s website.

Fill personal details. Click on the buying button when

ready to buy.

Smart Card processing

Credit card processing

Secure Electronic Transaction

A form of protocol for electronic credit card payments.

SET protocol is used to facilitate the secure transmission of consumer credit card information.

Blocks out details of credit card information.

SET processing

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