E-commerce payment system facilitates the acceptance of electronically made payment methods for online transactions. Also known as Electronic Data Interchange.

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Presentation transcript:

E-commerce payment system facilitates the acceptance of electronically made payment methods for online transactions. Also known as Electronic Data Interchange (EDI), e-commerce payment systems have lately become increasingly popular owing to the ease of usability they offer. Thus, they are also being used as one of the top shopping and banking methods.

A DVANTAGES OF ONLINE MONEY TRANSFER ONLINE MONEY TRANSFER There are NO clearance charges or hidden commission. The exchange rates to the mark. The funds will generally reach your overseas account within 24 hours and no longer than three business days, something for which banks take over a week. Online systems are built to the highest industry standards in order to provide you with your peace of mind assuring you that your money is in safe hands.

M ETHODS OF TRANSFERRING MONEY ONLINE Credit cards – one can easily make only money transfers or payments by using the details on their credit cards. Google Wallet – The Google Wallet allows payments and transfer money online, while also featuring insurmountable levels of security.

Net Banking - This method is used by customers who have accounts enabled with Internet Banking. Instead of entering card details on the purchaser's site, in this system, the payment gateway allows one to specify which bank they wish to pay from. PayPal - This is a global e- commerce method allowing payments and money transfers to be made electronic alternatives.

N ECESSARY PRECAUTIONS Accessibility to worldwide money transfer : some online money transfer companies have access to only some countries, while some offer facilities to all countries. Reliable internet connection - You cannot use a public computer to do online money transfers, never compromise the security of your online details. Fraud - this is something that is very deplorable. You should choose any online money transfer company that is secured and technologically adept to handle fraudulence.