E-payment system is the means of making payment and/or transaction for goods and services on an e-commerce website or electronic environment without any need to use cash or check. E-payment system is also known as online payment system. It has many forms such as credit card, virtual card, mail order, e-wallet, mobile payment, cryptocurrency, etc.
Published in Chapter:
Electronic Payment Systems in Electronic Commerce
Rana Atabay Kuscu (Istanbul Medipol University, Turkey), Yasemin Cicekcisoy (Istanbul Halic University, Turkey), and Umit Bozoklu (Istanbul Gedik University, Turkey)
Copyright: © 2020
|Pages: 26
DOI: 10.4018/978-1-7998-0035-4.ch006
Abstract
Technological advances and correspondingly the spreading usage of the Internet have significantly changed commerce, and also the concept of money has become more abstract. Customers with the help of the technological advances don't have the necessity of cash money, and consumers/firms tend towards alternative payment methods. At this point, electronic commerce (e-commerce) web sites have started to use block chaining payment methods. In this digital world, new payment technologies have started to spread far and wide thanks to fast improvements in payment technologies, and they offer different options in payment methods. Each electronic payment (e-payment) system has some advantages; however, each of them has some disadvantages as well. The aim of this study is to investigate the e-payment systems which are different from traditional payment methods.