E Cash Payment Systems
                     E Cash Payment Systems
What Is an E-
payment System?
An e-payment system is a way of making 
transactions or paying for goods and services 
through an electronic medium, without the use 
of checks or cash. It’s also called an electronic 
payment system or online payment system. 
Read on to learn more.
Source: securionpay.com
CLASSIFICATION
Credit Payment 
System
A form of the e-payment system which 
requires the use of the card issued by a 
financial institute to the cardholder for making 
payments online or through an electronic 
device, without the use of cash.
Source: securionpay.com
Cash Payment 
System
A financial transaction in which the account 
holder instructs the bank to collect a specific 
amount of money from his account 
electronically to pay for goods or services.
Source: securionpay.com
TYPES OF E-PAYMENT 
SYSTEM
Internet banking
 In this case, the payment is done by digitally 
transferring the funds over the internet from 
one bank account to another.
 Some popular modes of net banking are, 
NEFT, RTGS, IMPS.
Source: securionpay.com
Card payments
 Card payments are done via cards e.g. credit 
cards, debit cards, smart cards, stored 
valued cards, etc. In this mode, an electronic 
payment accepting device initiates the 
online payment transfer via card
Source: securionpay.com
Smart card 
 Also known as a chip card, a smart card, a 
card with a microprocessor chip is needed to 
transfer payments.
Source: securionpay.com
E-wallet
 Very popular among customers, an E-wallet 
is a form of prepaid account, where 
customer’s account information like credit/ 
debit card information is stored allowing 
quick, seamless, and smooth flow of the 
transaction.
Source: securionpay.com
Benefits of e-
payment systems
 People are almost comfortable with online 
shopping and e-payments. With this trend, 
accepting online payment is a must for any 
business.
 E-payments are making shopping and 
banking more convenient. They are helping 
customers to reach more clients locally and 
globally.
 E-payments are faster making the 
transactions efficient.
Source: securionpay.com
Benefits of e-payment 
systems cont.
 With e-payments, customers can pay online 
at any time from anywhere, making them 
easily accessible and convenient for 
customers.
 It’s easy to integrate online payment 
solutions with businesses as many payment 
processing solution providers offering 
different types of solutions.
 Online payment solutions come with security 
and risk and anti-fraud tools making them 
reliable and secure not only for customers 
but also for merchants.
Source: securionpay.com