Definition and Concept of E-Payment

by Kanzka Razan  Venir

Paying through electronic means E-Payment

Electronic payment is a method of payment that makes it easier for its users to conduct their financial operations. It is not necessary for customers to see the vendor in person or travel long distances in order to conduct business online. Electronic payment is an example of all non-cash payments, which may also be regarded as transactions between business buyers and sellers over the internet or an electronic network. Since online shopping and other forms of e-commerce are becoming more and more popular, electronic payment has emerged as a viable alternative to the traditional methods of making payments. ATMs, e-money, online banking, credit cards, debit cards, mobile payments, and mobile banking are all examples of electronic payments.

E-Money

The term “electronic money” refers to the usage of digital currency, such as a smartphone, to conduct financial transactions through the internet. Payday loans and credit cards are examples of prepaid electronic currency. The internet, computer networks, and digital store value systems are all examples of intermediates that may be used to conduct electronic payment transactions. The value of the currency has already been transferred from the client or user to the issuer when electronic money is issued. A chip or a server may house money that has been sent electronically. Payments are made between businesses, not by the company issuing the electronic money. A publisher, rather than the account owner or consumer, manages the electronic money that has been transferred from the account. The Central Bank of Indonesia has officially acknowledged 20 electronic money issuers. Banks and telecommunications service providers issue electronic money products

reference

http://jurnal.stmik-amik-riau.ac.id/index.php/satin/article/view/310