An e-commerce payment system facilitates the acceptance of electronic payment for online transactions. Also known as financial electronic data interchange (FEDI), e-commerce payment systems have become increasingly popular due to the widespread use of the internet based shopping and banking.
Credit Cards and Smart Cards
Over the years, credit cards have become one of the most common forms of payment for e-commerce transactions. In the early years of B2C, many consumers were apprehensive of using their credit cards over the internet because of fear that their credit card numbers would get stolen. However, due to increased security with credit card companies such as VISA, American Express, and MasterCard there is widespread use of credit card use over the internet, especially in North America.
Despite this widespread use in Nor
... Read more »