Internet payment system

Internet payment system
E-com
any mechanism for fund transfer from customer to merchant or business to business via the Internet. There are many payment options available, including credit card payment, credit transfer, electronic checks, direct debit, smart cards, prepaid schemes, loyalty scheme points-based approaches, person-to-person payments, and mobile phone schemes.
     Getting the online payment system right is critical to the success of e-commerce. Currently, the most common form of online consumer payment is by credit card (90% in the United States; 70% in Europe). The most commonbusiness-to-businesspayments,however, are still offline—probably because such transactions often involve large sums of money.
     Good online payment systems share key characteristics: ease of use; robustness and reliability; proper authentication (to combat fraud); efficient integration with the vendor’s own internal systems; security and assurance procedures which check that the seller gets the money and the buyer gets the goods.

The ultimate business dictionary. 2015.

Игры ⚽ Поможем сделать НИР

Look at other dictionaries:

  • Internet payment system — /ˌɪntənet peɪmənt ˌsɪstəm/ noun any mechanism that enables funds to be transferred from a customer to seller or from one business to another via the Internet …   Marketing dictionary in english

  • E-commerce payment system — An e commerce payment system facilitates the acceptance of electronic payment for online transactions. Also known as a sample of Electronic Data Interchange (EDI), e commerce payment systems have become increasingly popular due to the widespread… …   Wikipedia

  • Malaysian Electronic Payment System — Industry Finance Founded December, 1996 Headquarters Kuala Lumpur, Malaysia …   Wikipedia

  • electronic payment system — /ˌelɪktrɒnɪk peɪmənt ˌsɪstəm/ noun a means of making payments over an electronic network such as the Internet …   Marketing dictionary in english

  • Internet Open Trading Protocol — The Internet Open Trading Protocol (IOTP) is a protocol provides an interoperable, standardized and payment system independent framework for Internet commerce which tries to replicate real world trading processes as close as possible.External… …   Wikipedia

  • Internet fraud — refers to the use of Internet services to present fraudulent solicitations to prospective victims, to conduct fraudulent transactions, or to transmit the proceeds of fraud to financial institutions or to others connected with the scheme. Internet …   Wikipedia

  • Internet privacy — involves the right or mandate of personal privacy concerning the storing, repurposing, providing to third parties, and displaying of information pertaining to oneself via the Internet. Privacy can entail both Personally Identifying Information… …   Wikipedia

  • Internet vigilantism — is the phenomenon of vigilantic acts taken through the Internet (the communication network or its service providers) or carried out using applications (World Wide Web, e mail) that depend on the Internet. The term encompasses vigilantism against… …   Wikipedia

  • Internet begging — Internet begging, cyber begging, or Internet panhandling is the online version of traditional begging, asking strangers for money to meet immediate and other needs (money, food, and shelter). Internet begging has the clear advantage to street… …   Wikipedia

  • Internet in the People's Republic of China — Main articles: Telecommunications in China and Telecommunications industry in China The first connection of the mainland of the People s Republic of China with the Internet was established on September 20, 1987 between ICA Beijing and Karlsruhe… …   Wikipedia

  • Internet — This article is about the public worldwide computer network system. For other uses, see Internet (disambiguation). Tree of routing paths through a portion of the Internet as visualized by the …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”