E-Commerce Chapter 8 WELCOME!! E-Commerce Payment System Table of Contents • Electronic Payments • E-Commerce Transaction • EXAMPLES OF ELECTRONIC PAYMENT SYSTEMS FOR E-COMMERCE. • Examples of online payment systems • Types of E-Payment 3 Electronic Payments •An electronic payment is any kind of non-cash payment that doesn't involve a paper check. Methods of electronic payments include credit cards, debit cards and the ACH (Automated Clearing House) network. EXAMPLES OF ELECTRONIC PAYMENT SYSTEMS FOR E-COMMERCE Digital wallets • A digital wallet (or e-wallet) is a software-based system that securely stores users' payment information and passwords for numerous payment methods and websites. Micropayment •Micropayment systems have been developed for purchases of less than $10, such as downloads of individual articles or music clips. Accumulated balance digital payment systems •Accumulated balance digital payment systems enable users to make micropayments and purchases on the Web, accumulating a debit balance that they must pay periodically on their credit card or telephone bills. Accumulated balance • Accounts that accumulate expenditures and to which consumers make period payments • Examples: American Express accounts • Allows users to make micropayments and purchases on the Web, accumulating a debit balance for which they are billed at the end of the month • Examples: Qpass and iPin Online stored value payment systems •Online stored value payment systems enable consumers to make instant online payments to merchants and other individuals based on value stored in an online digital account. Digital checking systems • Digital checking systems such as PayByCheck extend the functionality of existing checking accounts so they can be used for online shopping payments. Digital checks are processed much faster than traditional paperbased checking. • Extend the functionality of existing checking accounts for use as online shopping payment tools • Examples: eCheck, Achex (MoneyZap) Electronic billing presentment and payment systems • BPPs are systems used to collect payments electronically. • A biller-direct EBPP lets users pay bills directly via the company's website. • In the bank-aggregator model, a banking customer can pay several different bills from their bank accounts. • Some newer services allow customers to pay all of their bills from one website and these are called consumer-consolidation EBPPs. Credit Card • A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's promise to the card issuer to pay them for the amounts plus the other agreed charges Debit Card • A debit card is a payment card that deducts money directly from a consumer's checking account to pay for a purchase. Debit cards eliminate the need to carry cash or physical checks to make purchases directly from your savings. Visa card • A Visa card is a payment card that uses the Visa network and is branded by Visa. • The company originally issued credit cards but has since branched out to include debit, prepaid, and gift cards as well. Although Visa cards bear the Visa symbol, they are not issued by the company itself. Instead, they are issued by partnered financial institutions. PayPal • PayPal Holdings, Inc. is an American company operating a worldwide online payments system that supports online money transfers and serves as an electronic alternative to traditional paper methods like checks and money orders. Thank You Contact Me hameednikzad@outlook.com +93 78 888 1398 Nikzad Academy
