Pdf the falling use of cash and the advent of digital technologies. The various forms of payment for ecommerce are given in the following paragraphs. The study is focusing on analyzing the new implementation of electronic. Marya sholevar department of banking and finance 2. Payment systems for ecommerce george mason university. Postpaid service a payment option offered by a rep for which the customer normally. An ecommerce payment system or an electronic payment system facilitates the acceptance of electronic payment for online transactions. Drawbacks of the existing credit cardbased electronic payment systems though the existing credit cardbased electronic payment systems are simple in comparison to the digital cash and. After the development of conventional payment system, eft electronic fund transfer based payment system came into existence.
Our electronic bill payment is the business to consumer b2c and business to business b2b and more specifically through remote bill payment system, most of the consumers can pay. An electronic payment e payment, in short, can be simply defined as paying for goods or services on the internet. You can pay for your smart online store transactions such as postpaid plan applications, prepaid device orders, accessories and more through any of the following options. The elusive goal of cost recouping, september 2008, p. Electronic payment system accountability guidance the purpose of this note is to encourage an appropriate level of accountability in electronic payment systems in a manner consistent.
Now, consumers and businesses make purchases directly from their bank accounts with bill payment software, trusting digitization to send electronic payments safely and quickly. A study on electronic toll collection systems in expressways in. The growing use of internetbased banking and shopping has seen the growth of various ecommerce payment systems and technology has been developed to increase, improve and provide secure e payment. A payer buyer or customer, is an entity who makes a payment. An electronic payment epayment, in short, can be simply defined as paying for goods or services on the internet.
Usually, an operator will have 70%80% customer base comprising of prepaid customers and rest of the customer base will come from postpaid side. Under bank of international settlementbis definition, a payment system consist of instruments, banking procedures and typically interbank funds. Credit cards the easiest form of electronic money that is available and most widely used today. Electronic payment system is an innovative way for online payments. A rep is not required to provide a confirmation code or receipt for payment sent by mail or electronic bill payment system. The content of this exchange is usually some form of digital financial instrument such as encrypted credit card numbers, electronic checks, or digital cash t. Modelling, design, and analysis of secure mobile payment. E payment system is a way of making transactions or paying for goods and services through an electronic medium without the use of check or cash. Epayments come with various methods, like credit or debit card payments or bank transfers.
The rep shall provide a receipt showing the amount paid for payment in person. Process of electronic payment system electronic payment systems have been in operations since 1960s and have been expanding rapidly as well as growing in complexity. Types of payment methods for ecommerce paymentwall. Prepaid customers make payment in advance before using the service, whereas postpaid customers use offered services throughout of the month, and at the end of the month, customer receives the bill to pay within the given time frame. The study is focusing on analyzing the new implementation of electronic toll collection in sri lanka, hence the drawbacks of the current cash based tolling system is identified.
This is the most important factor, which differentiates between two customer bases. An assessment of the effect of prepaid service transition in. Issues are not accepting easily because of lack of security in changing businessenvironment. All business activities need the support of payment system, so does. Overview of the electronic cheque system system overview recent years have seen a tremendous increase in ecommerce transactions. An assessment of the effect of prepaid service transition. Questionnaires were used as data collection instrument. Therefore, the electronic payment system must abide by the respective policies of the district and country. Meanwhile, there exists a large body of literature on electronic payment system. This may be further classified into prepaid airtime debit and postpaid. Electronic cash several variations wireless payments storedvalue card payments loyalty cards persontoperson payment methods payments made electronically at kiosks when. Notes on electronic payment systems vijay pasupathinathan.
Also known as a subcomponent of electronic data interchange edi, ecommerce payment systems have become increasingly popular due to the widespread use of the internetbased shopping and banking. Drawbacks of the existing credit cardbased electronic payment systems though the existing credit cardbased electronic payment systems are simple in comparison to the digital cash and electronic checks, they suffer from a variety of drawbacks. Telecom billing prepaid vs postpaid tutorialspoint. Electronic payment is a financial exchange that takes place online between buyers and sellers. It includes all financial operations using electronic devices, such as. The findings show that customers have embraced the pre paid billing system. Electronic payment system electronic payment systems electronic payment is an integral part of electronic commerce.
Ecards are basically of two types, prepaid debit card and postpaid credit card. In essence, it facilitates corporation, businesses and consumers to transfer funds to one other. The complete guide to electronic payment systems over the years, payments have evolved to include more than cash, coins, and checks. Disruptive innovation in the payments sectorand indeed the retail financial services. Documents required for signing contracts with the pe. The payment revolution in 2011 we are still in the middle of a payment system revolution electronic payments are taking the place of cash and checks in 2003 electronic systems. Ecommerce payment systems ecommerce sites use electronic payment. You can also visit idea service centres and pay through cash, cheque and credit card. Electronic payment systems analysis of electronic payment systems credit card payments.
Mobile payment systems a mobile payment system mps can be defined as any payment system that enables financial transactions to be made securely from one organization or. Using an electronic payment system has many benefits, but such systems arent without drawbacks. Electronic payment is an integral part of electronic commerce. The verification of an industrial payment protocol. The complete guide to electronic payment systems avidxchange. New payment types are continuously discovered and there are additional methods that exist or are being developed continuously each year5. Pdf it is predicted that mobile applications will become an integral part of our lives at the personal and. Increasingly, these electronic payments are going directly to the. While customers pay for goodsservices by cash, check, or credit cards in conventional businesses, online buyers may. Its also called an electronic payment system or online payment system. Electronic cash several variations wireless payments storedvalue card payments loyalty cards persontoperson payment methods payments made electronically at kiosks when looking at list above it is obvious, that there are several issues to be taken into account when creating a electronic payments system like. Being user friendly and less timeconsuming than manual processing, it helps business organization to expand its.
The content of this exchange is usually some form of digital financial instrument such as encrypted credit card numbers, electronic cheques or digital cash that is backed by a bank or an intermediary, or by a legal tender. Pdf online electronic bill payment by postpaid card. Epayment system is secure there should be no threat to the user credit card number, smart card or. It includes all financial operations using electronic devices, such as computers, smartphones or tablets. Electronic voucher card evd commercial bank of ethiopia. The failure of electronic payment system is depend on the factor that it neglects the needs of users and the market. The main purpose of an electronic payment protocols is to transfer monetary value from the payer to the payee. A postpaid as well as prepaid connections have their own advantages and. Banglalink postpaid subscribers can pay bill, advance bill and enhance security deposit by bill copy or banglalink payment slips through those banks during banking hours. E provide a confirmation code when the customer makes a payment by credit card, debit card, or electronic check. Under bank of international settlementbis definition, a payment system consist of instruments, banking procedures and typically interbank funds transfer that ensures and facilitate the circulation of money. Electronic payment systems 1 the most primitive payment form.
Pdf online electronic bill payment by postpaid card using. The new lebanese national payment system enhanced the speed of movement of money within the national economy in a secure and efficient manner. Electronic payment has revolutionized the business processing by reducing the paperwork, transaction costs, and labor cost. Purpose of this research is to identify the user preference between prepaid and postpaid electronic toll collection methods and to identify the determinants that affect such a choice. A study on electronic toll collection systems in expressways. Some of the banks have electronic payment options where payment can be made at any convenient time. When companies enter the b2c electronic commerce market, choosing an electronic payment system that will work well with the way they run their business that is both popular and safe is a major concern. Most of the operators provide two options to their customers, to go for a postpaid or a prepaid connection. Our electronic bill payment is the business to consumer b2c and business to business b2b and more specifically through remote bill payment system, most of the consumers can pay their bills by. Currently, many electronic payment systems have been proposed for providing different levels of security to financial. All business activities need the support of payment system, so does the ecommerce.
The monthly bill amount will be debited from your bank account directly. Epayment system is a way of making transactions or paying for goods and services through an electronic medium without the use of check or cash. Electronic payment system credit card payment system. The epass prepaid account balance must be kept in good standing to avoid interruptions in electronic payment. Broadly defined, electronic payment is a financial exchange that takes place online between buyers and sellers. The payment revolution in 2011 we are still in the middle of a payment system revolution electronic payments are taking the place of cash and checks in 2003 electronic systems surpassed the use of cash and checks in stores similar trends occur for recurring payments, more then 75% in 2001 were made by electronic systems. Serbia in the postpaid system if the participant in traffic legal entity wants to become the user of electronic toll collection etc services in the postpaid system, it is necessary to sign a.
An epayment system is a way of making transactions or paying for goods and services through an electronic medium, without the use of checks or cash. Pay online with your visa, mastercard, american express or jcb card from major issuing banks. A payee seller or merchant, is an entity who receives a payment. As ecommerce process transactions through the internet, it requires a more secure, stable and efficient payment system for supporting commerce done electronically. The core of the electronic commerce is the electronic payment system. Value stored on the smart card or a computer digicash ecash. A postpaid as well as prepaid connections have their own advantages and disadvantages. Electronic payment systems overview types requirements digital token, smart cards.
Highly flexible, support,multiple cards, and adopt to new protocols payment method. Furthermore, new commercial models make new demands on specialized payment systems, e. Sherif saad mohammed dfghjklzxcvbnmqwertyuiopasdfghjklzx. Use of the epass and visitor toll pass electronic payment system is a privilege and not a right. The electronic payment system has grown increasingly over the last decades due to the growing. The content of this exchange is usually some form of digital financial instrument such as encrypted credit card numbers, electronic. Pay online with your bancnet atm card from bancnet member banks like. There are several million credits cards that are being used to make online payments in india. This paper focuses on the determinants that affects, when introducing prepaid and postpaid electronic toll collection systems to sri lankan expressways. Electronic payment system accountability guidance the purpose of this note is to encourage an appropriate level of accountability in electronic payment systems in a manner consistent with historical precedent so that taxpayers can continue to rely on data from these systems to substantiate their tax position.
The content of this exchange is usually some form of. Pros its easier for customers to buy your products or services. Pdf electronic money and the possibility of a cashless society. Being user friendly and less timeconsuming than manual processing, it helps. The encrypted credit cardbased electronic payment system suffers from the following disadvantages. Ecommerce sites use electronic payment, where electronic payment refers to paperless monetary transactions. An analysis and comparison of different types of electronic payment systems 2001 3. Postpaid billing and services idea postpaid prepaid. As mentioned earlier, many consumers are putting away their checkbooks and embracing electronic payment methods. Electronic payment system free download as powerpoint presentation. Online payment system requires improvement of information technology. May 10, 2017 this paper focuses on the determinants that affects, when introducing prepaid and postpaid electronic toll collection systems to sri lankan expressways.
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