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 primary classifications to be specific 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. As far as real installment time, electronic money and savvy 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 savvy 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 savvy cards, it is finished by the shrewd card account. In electronic money, there is no inclusion of a ledger (Laudon and Laudon, 2008). Concerning their clients, online Mastercard is open for every single real client of Visa, electronic money is open for everyone while electronic check and shrewd cards are open for anybody with a ledger. What's more, shrewd card is likewise open for anybody with a charge card account. Online Visa can in part be utilized in genuine world, electronic money must be utilized in virtual world, shrewd cards can be utilized in utilized in genuine and virtual world and electronic check is constrained to genuine world in spite of the fact that its checking tally can be imparted to genuine world. Online charge card and savvy cards are versatile though electronic money and electronic check are not portable. Exchanges costs for online charge card are high in this way it isn't appropriate for little installments. With respect to electronic money and savvy cards, their exchange costs are nevertheless low consequently they are appropriate for low exchanges. Online charge card, electronic money and keen cards have significant levels of client namelessness however it isn't found in electronic check (Laudon and Laudon, 2008). I for the most part utilize electronic money since it is open for anybody and there is no