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Electronic Payment System - globip.com
Asia Pacific Journal of Finance and banking Research Vol. 3. No. 3. 2009. Singh Sumanjeet EMERGENCE OF Payment SYSTEMS IN THE AGE OF. Electronic COMMERCE: THE STATE OF ART. Singh Sumanjeet1. University of Delhi, India. E-mail: ABSTRACT. The emergence of e-commerce has created new financial needs that in many cases cannot be effectively fulfilled by the traditional Payment systems. Recognizing this, virtually all interested parties are exploring various types of Electronic Payment System and issues surrounding Electronic Payment System and digital currency. Broadly Electronic Payment systems can be classified into four categories: Online Credit Card Payment System , Online Electronic Cash System , Electronic Cheque System and Smart Cards based Electronic Payment System .
Asia Pacific Journal of Finance and Banking Research Vol. 3. No. 3. 2009. Singh Sumanjeet 22 Figure 1: Conventional/Traditional Payment System
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