ELECTRONIC PAYMENT SYSTEM • An e-payment system is a way of making transactions or paying for goods and services through an electronic medium, without the use of checks or cash. • It’s also called an electronic payment system or online payment system. TYPES OF ELECTRONIC PAYMENT SYSTEM • Credit Card • Debit Card • Smart Card • E-Wallet • Netbanking • Mobile Payment • Amazon Pay CREDIT CARD • 1) EMI payments • 2) Easy approval • 3) Customised card limit • 4) Loans during an emergency • 5) ATM cash withdrawal • 6) Discounts and Offers • 7) ...

 

E-payment systems • To transfer money over the Internet • Methods of traditional payment – Check, credit card, or cash • Methods of electronic payment – Electronic cash, software wallets, smart cards, and credit/debit cards – Scrip is digital cash minted by third-party organizations 2/16/00 EMTM 553 2 Requirements for e-payments • Atomicity – Money is not lost or created during a transfer • Good atomicity – Money and good are exchanged atomically • Non-repudiation – No party can deny its role in the transaction – Digital signatures 2/16/00 EMTM 553 3 Desirable Properties of Digital Money • Universally accepted ...