Analysis of Electronic Payment Systems Essay Example | Topics and Well Written Essays - 500 words

Investigation of Electronic Payment Systems - Essay Example Electronic installment frameworks (EPS) can be grouped into four fundamental classes in particular Online Electronic Cash System, Online Credit Card Payment System, Smart Cards based Electronic Payment System and Electronic Check System. These classes can be looked at utilizing different highlights. Regarding genuine installment time, electronic money and brilliant cards are paid ahead of time while online Visa installment and electronic check are post paid/paid later. In Online Credit Card Payment and Electonic money, all exchanges are on the web yet disconnected exchanges are permitted in electronic check and shrewd cards. In Online Credit Card Payment, installments are made by the credit account, in electronic check, it is finished by the bank acount and in shrewd cards, it is finished by the keen card account. In electronic money, there is no association of a ledger (Laudon and Laudon, 2008). Concerning their clients, online charge card is open for every single real client of Visa, electronic money is open for everyone while electronic check and savvy cards are open for anybody with a financial balance. What's more, savvy card is likewise open for anybody with a Mastercard account. Online charge card can mostly be utilized in genuine world, electronic money must be utilized in virtual world, keen cards can be utilized in utilized in genuine and virtual world and electronic check is constrained to genuine world despite the fact that its checking tally can be imparted to genuine world. Online Visa and shrewd cards are versatile though electronic money and electronic check are not portable. Exchanges costs for online charge card are high in this manner it isn't appropriate for little installments. With respect to electronic money and brilliant cards, their exchange costs are nevertheless low consequently they are appropriate for low exchanges. Online Mastercard, electronic money and shrewd cards have elevated levels of client secrecy yet it isn't found in electronic check (Laudon and Laudon, 2008). I generally utilize electronic money since it is open for anybody and there is no