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1. ELECTRONIC PAYMENT METHOD

2. 2
ELECTRONIC PAYMENT SYSTEMS (EPS)
E-Commerce or Electronics Commerce sites use electronic payment where electronic
payment refers to paperless monetary transactions. Electronic payment has
revolutionized the business processing by reducing paper work, transaction costs,
labour cost. Being user friendly and less time consuming than manual processing,
helps business organization to expand its market reach / expansion.

3. 3
Types Of Electronic Payment
System (EPS)

4. 1) Payment Cards
• Electronic card payments continue to have a
meaningful impact on the world. Most of consumers
use credit cards to pay for online purchases. Card
transaction volume grew at an annual growth rate of
10.8% in 2010, compared to 8.4% growth in 2009.
• More than 85% of worldwide consumer Internet
purchases are paid for with credit cards.
4
TYPES OF EPS

5. • Smart Card: A smart card, is any pocket-sized
card with embedded integrated circuits which
can process data. This implies that it can
receive input which is processed and delivered
as an output.
• Credit Card : It is a Plastic Card having a
Magnetic Number and code on it. It has Some
fixed amount to spend. Customer has to repay
the spend amount after sometime.
• Debit Card : Similar to Credit card on coding
and encryption. Purchase limit depends on the
available balance in the account.
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TYPES OF EPS

6. 2) Electronic Fund Transfer(EFT)
• EFT is used for transferring money from one bank
account directly to another without any paper money
changing hands.
• It can be Direct debit payments or Electronic bill
payment in online banking
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TYPES OF EPS

7. 3) Electronic Cash Systems
• System usually is developed based on an electronic
payment protocol which supports payment
transactions.
• Basic attributes are Acceptability, Guaranteed
payment, No transaction chargers and Anonymity.
• Like the serial numbers on real currency notes, the E-
cash numbers are unique. This is issued by a bank and
represents a specified sum of real money. It is
anonymous and reusable.
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TYPES OF EPS

8. 4) Electronic wallets
• Allows customer to store name, address, credit card
information on the site.
• Allow high speed efficiency and high security for
shoppers.
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TYPES OF EPS

9. 5) Electronic Checks
• An E-check is an electronic version of paper check.
• Fast check processing and very low transaction cost.
• Digital signatures can be seen.
9
TYPES OF EPS

10. 6) Micro Payment Systems
• Transaction can become costly when customers
purchase inexpensive items.
• Used for small payments on the Web
• Click share
• IBM micro-payment systems
10
TYPES OF EPS
• NFC (Near Field Communication) is
the latest payment method
introduced to the world.
• It is not based on cash in the wallet
but storing card information on the
phone to be used in a mobile wallet
or to use NFC.

11. PAYMENT GATEWAYS
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12. 12
SECURE ELECTRONIC
TRANSACTION(SET) PROTOCOL

13. SOME SECURE EPS INFRASTRUCTURE
Authentication:
• Many tools available to confirm the authenticity of a
user.
• Passwords and ID numbers are used mostly.
Public Key Cryptography:
• Use one public and one private to encrypt and decrypt
data
• Sender can then encrypt the message with the public
key and receiver can use the private key to decrypt the
message.
Digital Signature:
• An electronic one use to authenticate
the identity of the sender of a
message.
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14. Secure Sockets Layer (SSL):
• Commonly used protocol for managing the security of a
message transmission.
• Uses the public-and-private key encryption system.
• Program layer located
between HTTP and TCP.
Certificate:
• The issuer verified the identity of the individual.
• Symantec Certificates.
• GeoTrust
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SOME SECURE EPS INFRASTRUCTURE

15. FLOW OF ELECTRONIC
PAYMENT SYSTEM
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16. 16
FLOW OF ELECTRONIC
PAYMENT SYSTEM

17. PROS AND CONS
• Pros:
• It’s easier for customers to
buy your products or
services.
• You can add custom loyalty
programs, gift cards and
customized e-commerce
websites.
• You can integrate it with
accounting software,
making it easier to manage
money.
• You don’t have to waste as
much time depositing
paper checks and cash at
the bank.
• Cons:
• You have to pay a
processing fee to accept
plastic and some other
electronic payments.
• If you use a traditional
physical credit card
terminal, monthly or
annual fees might apply.
• Some payment
processing services lock
you into contracts that
are costly to terminate
early.
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18. THANK YOU
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