What are the requirements of payment systems in e-commerce?

Subject E-Commerce
NU Year Set: 3.(a) Marks: 5 Year: 2012

E-commerce sites use electronic payment, where electronic payment refers to paperless monetary transactions. Electronic payment has revolutionized business processing by reducing the paperwork, transaction costs, and labor cost. Being user-friendly and less time-consuming than manual processing, it helps the business organization to expand its market reach/expansion. Listed below are some of the modes of electronic payments −

  • Credit Card
  • Debit Card
  • Smart Card
  • E-Money
  • Electronic Fund Transfer (EFT)
Login to post your comment.