What are the popular e-payment systems? Explain. Explain Different Types of Popular e-Payment Systems The following are the most popular e-payment systems 1) Credit Card 2) Debit card 3) EFT 4) Stored value cards and e-cash 5) e-checks 1: Credit Card What are different types of e-payment systems in e-commerce The Credit Card is plastic credit card with a magnetic strip issued by a bank or financial institution. Holders of a valid credit card have the authorization to purchase goods and services up to a predetermined amount, called a credit limit. The vendor receives essential credit card information from the cardholder, the bank issuing the card actually repays the vendor, and eventually the cardholder repays the bank through regular monthly payments. If the entire balance is not paid in full, the credit card issuer can legally charge interest fees on the unpaid portion. 2: Debit Card: A debit card is a plastic card issued by banks to customers.
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