07-10-2010, 02:59 PM
Presented by:
VIJAY CHOUDHARY
Introduction
An electronic payment is any kind of non-cash payment that doesn't involve a paper check.
Methods of electronic payments include credit cards, debit cards and the ACH (Automated Clearing House) network .The ACH system comprises direct deposit, direct debit and electronic check (e check).
More the payment processed electronically, less cost will be spent on paper and postage. The basic requirements of e payment system are atomicity and non repudiation. Except these, money should be transferred electronically and universally accepted.
