SlideShare a Scribd company logo
1 of 13
Download to read offline
The capability of buying and selling products, information and services on
the Internet and other online environments.
 Electronic payment systems have been in operations since 1960s
Traditionally, a customer sees a product, examines it, and then pays for it by
cash ,
check, or credit card.
Payment (credit card,
cash, check)
Products/service
Costumer Businessma
n
Traditional payment
scheme
Payment
(EFT, E cash, E check, E
wallet, )
Products/service
Costumer Virtual Business
man
Electronic payment scheme
 In the e-commerce world, in most cases the customer does not actually see
the
concrete product at the time of transaction, and the method of payment is
performed electronically.
1. Consumer buys e-cash from Bank.
2. Bank sends e-cash bits to consumer.
3. Consumer sends e-cash to merchant.
4. Merchant checks with Bank that e-cash
is valid (check for forgery or fraud)
5. Bank verifies that e-cash is valid
6. Parties complete transaction.
Merchant
Consumer
Bank
1
2
3
4
5
E-cash
Concept
 EPSs enable a customer to pay for the goods and services online by
using integrated hardware and software systems.
 The main objectives of EPS are to increase efficiency, improve security,
and
enhance customer convenience and ease of use.
 While customers pay for goods/services by cash, check, or credit cards
in conventional businesses, online buyers may use one of the following
EPSs to pay for products/services purchased online.
• PAYMENT CARDS:
Credit cards, debit cards, charge cards and electronic wallet. They are the
most popular tool for electronic payment transactions.
 Credit cards:
o A very common method of payment .
o Credit cards issued by credit card companies (e.g., MasterCard, Visa) and
major banks (e.g. United Bank , HBL etc).
o The customer uses these cards to buy goods and services or get cash
from the participating financial institutions.
o Unique 16-digit number (including check digits) and an expiration date
o Two limitations of credit cards are their unsuitability for very small or very
large payments.
o It is not cost-justified to use a credit card for small payments. Also, due to
security issues, these cards have a limit and cannot be used for
excessively large transactions
Debit cards
 Debit cards task similar to checks in that the charges will be
taken from the customer's checking account.
 The benefit for the customer is the easiness of use and
convenience.
 These cards also keep the customer under his budget
because they do not allow the customer to go beyond his
resources.
 The advantage to the merchant is the speed at which the
merchant collects these charges.
Charge Cards
 Charge cards are similar to credit cards
except they have no revolving credit line,
 so the balance must be paid off every month.
 Credit, debit, and charge card methods of
payments have been successfully utilized in
the pre-Internet period,
 and they are often used in the e-commerce
world as well.
 Some of the reasons for their popularity in the
e-commerce world are their availability , easy
of use, and acceptance. To use these cards
as an online payment system.
Electronic wallets
Electronic wallets being very useful for frequent online
shoppers are commercially available for pocket.
They offer a secure, convenient, and portable tool for
online shopping.
They store personal and financial information such as credit
cards, passwords, PINs, and much more.
Electronic wallets allow higher speed and efficiency for
online shoppers.
ALTERNATE CUNSUMER PAYMENT
OPTIONS
Although electronic payment is more convenient , internet
merchant’s that do not accept credit cards can accept
payments such as checks or money orders through the
mail.
Cash on delivery (COD) is another possible, but rarely
used , option for those hesitant to pay electronically.
Banks and businesses are also creating option for online
payment that do not involve credit cards.
Companies such as AmeriNet ( www.debit-it.com) allows
merchants to accept a customer ‘s checking-account
number as a valid form of payment .
AmeriNet provides authorization and account settlement,
handles distribution and shipping (known as fulfillment ) and
manages customer service inquiries.
Electronic payment system (eps) by izaz roghani
The most common alternative payment methods are debit
cards, charge cards, prepaid cards, direct debit, bank
transfers, phone and mobile payments, checks, money orders and
cash payments.
Types :
THE END
Design By: Izaz Khan Roghani

More Related Content

Recently uploaded

Patient Counselling. Definition of patient counseling; steps involved in pati...
Patient Counselling. Definition of patient counseling; steps involved in pati...Patient Counselling. Definition of patient counseling; steps involved in pati...
Patient Counselling. Definition of patient counseling; steps involved in pati...raviapr7
 
Education and training program in the hospital APR.pptx
Education and training program in the hospital APR.pptxEducation and training program in the hospital APR.pptx
Education and training program in the hospital APR.pptxraviapr7
 
How to Show Error_Warning Messages in Odoo 17
How to Show Error_Warning Messages in Odoo 17How to Show Error_Warning Messages in Odoo 17
How to Show Error_Warning Messages in Odoo 17Celine George
 
Department of Health Compounder Question ‍Solution 2022.pdf
Department of Health Compounder Question ‍Solution 2022.pdfDepartment of Health Compounder Question ‍Solution 2022.pdf
Department of Health Compounder Question ‍Solution 2022.pdfMohonDas
 
How to Create a Toggle Button in Odoo 17
How to Create a Toggle Button in Odoo 17How to Create a Toggle Button in Odoo 17
How to Create a Toggle Button in Odoo 17Celine George
 
The basics of sentences session 10pptx.pptx
The basics of sentences session 10pptx.pptxThe basics of sentences session 10pptx.pptx
The basics of sentences session 10pptx.pptxheathfieldcps1
 
Prescribed medication order and communication skills.pptx
Prescribed medication order and communication skills.pptxPrescribed medication order and communication skills.pptx
Prescribed medication order and communication skills.pptxraviapr7
 
The Stolen Bacillus by Herbert George Wells
The Stolen Bacillus by Herbert George WellsThe Stolen Bacillus by Herbert George Wells
The Stolen Bacillus by Herbert George WellsEugene Lysak
 
Slides CapTechTalks Webinar March 2024 Joshua Sinai.pptx
Slides CapTechTalks Webinar March 2024 Joshua Sinai.pptxSlides CapTechTalks Webinar March 2024 Joshua Sinai.pptx
Slides CapTechTalks Webinar March 2024 Joshua Sinai.pptxCapitolTechU
 
DUST OF SNOW_BY ROBERT FROST_EDITED BY_ TANMOY MISHRA
DUST OF SNOW_BY ROBERT FROST_EDITED BY_ TANMOY MISHRADUST OF SNOW_BY ROBERT FROST_EDITED BY_ TANMOY MISHRA
DUST OF SNOW_BY ROBERT FROST_EDITED BY_ TANMOY MISHRATanmoy Mishra
 
How to Send Emails From Odoo 17 Using Code
How to Send Emails From Odoo 17 Using CodeHow to Send Emails From Odoo 17 Using Code
How to Send Emails From Odoo 17 Using CodeCeline George
 
10 Topics For MBA Project Report [HR].pdf
10 Topics For MBA Project Report [HR].pdf10 Topics For MBA Project Report [HR].pdf
10 Topics For MBA Project Report [HR].pdfJayanti Pande
 
EBUS5423 Data Analytics and Reporting Bl
EBUS5423 Data Analytics and Reporting BlEBUS5423 Data Analytics and Reporting Bl
EBUS5423 Data Analytics and Reporting BlDr. Bruce A. Johnson
 
Clinical Pharmacy Introduction to Clinical Pharmacy, Concept of clinical pptx
Clinical Pharmacy  Introduction to Clinical Pharmacy, Concept of clinical pptxClinical Pharmacy  Introduction to Clinical Pharmacy, Concept of clinical pptx
Clinical Pharmacy Introduction to Clinical Pharmacy, Concept of clinical pptxraviapr7
 
Drug Information Services- DIC and Sources.
Drug Information Services- DIC and Sources.Drug Information Services- DIC and Sources.
Drug Information Services- DIC and Sources.raviapr7
 
Riddhi Kevadiya. WILLIAM SHAKESPEARE....
Riddhi Kevadiya. WILLIAM SHAKESPEARE....Riddhi Kevadiya. WILLIAM SHAKESPEARE....
Riddhi Kevadiya. WILLIAM SHAKESPEARE....Riddhi Kevadiya
 
Protein Structure - threading Protein modelling pptx
Protein Structure - threading Protein modelling pptxProtein Structure - threading Protein modelling pptx
Protein Structure - threading Protein modelling pptxvidhisharma994099
 

Recently uploaded (20)

Patient Counselling. Definition of patient counseling; steps involved in pati...
Patient Counselling. Definition of patient counseling; steps involved in pati...Patient Counselling. Definition of patient counseling; steps involved in pati...
Patient Counselling. Definition of patient counseling; steps involved in pati...
 
Education and training program in the hospital APR.pptx
Education and training program in the hospital APR.pptxEducation and training program in the hospital APR.pptx
Education and training program in the hospital APR.pptx
 
How to Show Error_Warning Messages in Odoo 17
How to Show Error_Warning Messages in Odoo 17How to Show Error_Warning Messages in Odoo 17
How to Show Error_Warning Messages in Odoo 17
 
Department of Health Compounder Question ‍Solution 2022.pdf
Department of Health Compounder Question ‍Solution 2022.pdfDepartment of Health Compounder Question ‍Solution 2022.pdf
Department of Health Compounder Question ‍Solution 2022.pdf
 
Prelims of Kant get Marx 2.0: a general politics quiz
Prelims of Kant get Marx 2.0: a general politics quizPrelims of Kant get Marx 2.0: a general politics quiz
Prelims of Kant get Marx 2.0: a general politics quiz
 
March 2024 Directors Meeting, Division of Student Affairs and Academic Support
March 2024 Directors Meeting, Division of Student Affairs and Academic SupportMarch 2024 Directors Meeting, Division of Student Affairs and Academic Support
March 2024 Directors Meeting, Division of Student Affairs and Academic Support
 
How to Create a Toggle Button in Odoo 17
How to Create a Toggle Button in Odoo 17How to Create a Toggle Button in Odoo 17
How to Create a Toggle Button in Odoo 17
 
The basics of sentences session 10pptx.pptx
The basics of sentences session 10pptx.pptxThe basics of sentences session 10pptx.pptx
The basics of sentences session 10pptx.pptx
 
Prescribed medication order and communication skills.pptx
Prescribed medication order and communication skills.pptxPrescribed medication order and communication skills.pptx
Prescribed medication order and communication skills.pptx
 
The Stolen Bacillus by Herbert George Wells
The Stolen Bacillus by Herbert George WellsThe Stolen Bacillus by Herbert George Wells
The Stolen Bacillus by Herbert George Wells
 
Slides CapTechTalks Webinar March 2024 Joshua Sinai.pptx
Slides CapTechTalks Webinar March 2024 Joshua Sinai.pptxSlides CapTechTalks Webinar March 2024 Joshua Sinai.pptx
Slides CapTechTalks Webinar March 2024 Joshua Sinai.pptx
 
DUST OF SNOW_BY ROBERT FROST_EDITED BY_ TANMOY MISHRA
DUST OF SNOW_BY ROBERT FROST_EDITED BY_ TANMOY MISHRADUST OF SNOW_BY ROBERT FROST_EDITED BY_ TANMOY MISHRA
DUST OF SNOW_BY ROBERT FROST_EDITED BY_ TANMOY MISHRA
 
How to Send Emails From Odoo 17 Using Code
How to Send Emails From Odoo 17 Using CodeHow to Send Emails From Odoo 17 Using Code
How to Send Emails From Odoo 17 Using Code
 
10 Topics For MBA Project Report [HR].pdf
10 Topics For MBA Project Report [HR].pdf10 Topics For MBA Project Report [HR].pdf
10 Topics For MBA Project Report [HR].pdf
 
EBUS5423 Data Analytics and Reporting Bl
EBUS5423 Data Analytics and Reporting BlEBUS5423 Data Analytics and Reporting Bl
EBUS5423 Data Analytics and Reporting Bl
 
Personal Resilience in Project Management 2 - TV Edit 1a.pdf
Personal Resilience in Project Management 2 - TV Edit 1a.pdfPersonal Resilience in Project Management 2 - TV Edit 1a.pdf
Personal Resilience in Project Management 2 - TV Edit 1a.pdf
 
Clinical Pharmacy Introduction to Clinical Pharmacy, Concept of clinical pptx
Clinical Pharmacy  Introduction to Clinical Pharmacy, Concept of clinical pptxClinical Pharmacy  Introduction to Clinical Pharmacy, Concept of clinical pptx
Clinical Pharmacy Introduction to Clinical Pharmacy, Concept of clinical pptx
 
Drug Information Services- DIC and Sources.
Drug Information Services- DIC and Sources.Drug Information Services- DIC and Sources.
Drug Information Services- DIC and Sources.
 
Riddhi Kevadiya. WILLIAM SHAKESPEARE....
Riddhi Kevadiya. WILLIAM SHAKESPEARE....Riddhi Kevadiya. WILLIAM SHAKESPEARE....
Riddhi Kevadiya. WILLIAM SHAKESPEARE....
 
Protein Structure - threading Protein modelling pptx
Protein Structure - threading Protein modelling pptxProtein Structure - threading Protein modelling pptx
Protein Structure - threading Protein modelling pptx
 

Electronic payment system (eps) by izaz roghani

  • 1. The capability of buying and selling products, information and services on the Internet and other online environments.  Electronic payment systems have been in operations since 1960s Traditionally, a customer sees a product, examines it, and then pays for it by cash , check, or credit card. Payment (credit card, cash, check) Products/service Costumer Businessma n Traditional payment scheme
  • 2. Payment (EFT, E cash, E check, E wallet, ) Products/service Costumer Virtual Business man Electronic payment scheme  In the e-commerce world, in most cases the customer does not actually see the concrete product at the time of transaction, and the method of payment is performed electronically.
  • 3. 1. Consumer buys e-cash from Bank. 2. Bank sends e-cash bits to consumer. 3. Consumer sends e-cash to merchant. 4. Merchant checks with Bank that e-cash is valid (check for forgery or fraud) 5. Bank verifies that e-cash is valid 6. Parties complete transaction. Merchant Consumer Bank 1 2 3 4 5 E-cash Concept
  • 4.  EPSs enable a customer to pay for the goods and services online by using integrated hardware and software systems.  The main objectives of EPS are to increase efficiency, improve security, and enhance customer convenience and ease of use.  While customers pay for goods/services by cash, check, or credit cards in conventional businesses, online buyers may use one of the following EPSs to pay for products/services purchased online.
  • 5. • PAYMENT CARDS: Credit cards, debit cards, charge cards and electronic wallet. They are the most popular tool for electronic payment transactions.  Credit cards: o A very common method of payment . o Credit cards issued by credit card companies (e.g., MasterCard, Visa) and major banks (e.g. United Bank , HBL etc). o The customer uses these cards to buy goods and services or get cash from the participating financial institutions. o Unique 16-digit number (including check digits) and an expiration date o Two limitations of credit cards are their unsuitability for very small or very large payments. o It is not cost-justified to use a credit card for small payments. Also, due to security issues, these cards have a limit and cannot be used for excessively large transactions
  • 6. Debit cards  Debit cards task similar to checks in that the charges will be taken from the customer's checking account.  The benefit for the customer is the easiness of use and convenience.  These cards also keep the customer under his budget because they do not allow the customer to go beyond his resources.  The advantage to the merchant is the speed at which the merchant collects these charges.
  • 7. Charge Cards  Charge cards are similar to credit cards except they have no revolving credit line,  so the balance must be paid off every month.  Credit, debit, and charge card methods of payments have been successfully utilized in the pre-Internet period,  and they are often used in the e-commerce world as well.  Some of the reasons for their popularity in the e-commerce world are their availability , easy of use, and acceptance. To use these cards as an online payment system.
  • 8. Electronic wallets Electronic wallets being very useful for frequent online shoppers are commercially available for pocket. They offer a secure, convenient, and portable tool for online shopping. They store personal and financial information such as credit cards, passwords, PINs, and much more. Electronic wallets allow higher speed and efficiency for online shoppers.
  • 9. ALTERNATE CUNSUMER PAYMENT OPTIONS Although electronic payment is more convenient , internet merchant’s that do not accept credit cards can accept payments such as checks or money orders through the mail. Cash on delivery (COD) is another possible, but rarely used , option for those hesitant to pay electronically.
  • 10. Banks and businesses are also creating option for online payment that do not involve credit cards. Companies such as AmeriNet ( www.debit-it.com) allows merchants to accept a customer ‘s checking-account number as a valid form of payment . AmeriNet provides authorization and account settlement, handles distribution and shipping (known as fulfillment ) and manages customer service inquiries.
  • 12. The most common alternative payment methods are debit cards, charge cards, prepaid cards, direct debit, bank transfers, phone and mobile payments, checks, money orders and cash payments. Types :
  • 13. THE END Design By: Izaz Khan Roghani