an e-payment transaction may be defined as one in which monetary value is

transfered electronically or digitally between two entities as compensation for the

receipt of goods and services.An entity refers to a bank, business,and individual
consumers.However it is obvious that any payment that is not transacted by
paper based instruments is considered an e-payment transaction

E-payment is a new system that the public, businesses and other organisations
used for payment of their financial deals.It is also used for on line business to
business,educational institutions for student grants and tuition fees,for shopping,
retailers and wholesales, and also the used of credit card and others banks cards
for paying debts and gifts.online payment

ePayment main features

The ePayment platform provides everything you need to:

 Accept online payments in a secure environment

 Generate more online sales

 Have full control over your online activity

 Customize the platform according to your specific business

requirements

Online payments

Multiple payment options: debit/credit card (Visa,

Visa Electron, MasterCard, Maestro, JCB, Diners Club),

PayPal, wire transfer, on delivery, SMS

Flexible vendor payment terms

Multicurrency vendor payments

Vendor payments to multiple bank accounts

Flexible financial terms

Partial refund

Instant Payment Notification

Fast ordering system with our Live Update

 technology

Antifraud system

3-D Secure Vendor & Shopper Protection

Expert Fraud Checking System

Automatic filters for suspicious transactions

Suspicious transactions  manual checking

Secure Order Page Hosting

Notification for fraudulent online transaction

attempts

Administration interface

User friendly web based administration Control

Panel

Centralized multiple accounts management

system

Multilevel user access

Automatic electronic delivery

Instant delivery notification

Shipping costs automate pricing module

Multilanguage payment interface

Built-in search engine

Implementation services

Fast implementation and integration with your

website

Shopping cart customization

Adding products to the database

Complete customization of the email messages

sent to customers

Customized order page and FAQ section

Customized order pages based on geo-location

Complete integration with CRM / ERP solutions

Vendor support
 Dedicated online technical consultant

Implementation support team

Live Chat

Integrated customized FAQ section

Shopper support

24/7 Multilanguage support

myAccount - real time online support

Order value in the chosen currency

Online customer support center

Sales and marketing tools

Online promotions

Cross-selling

After-Sales customized message

Sales source monitoring

Additional order fields in the payment  interface

Order recovery through email follow-up

Auto apply discount

Extended reports

Global sales reports with multi-criteria filters

Volume reports on standard/custom periods

Real time generated graphical sales reports for

special products

Reports on the product types

Ongoing promotions statistics

Geographical reports based on shoppers’

countries

Reports based on the data filled in by your

customers in the additional order fields

ePayment benefits

 Enhanced security
 Fast implementation

 Easy to use

 Saves time and effort

Electronic payment is the term used for any kind of payment processed without using cash or
paper checks. Forms of electronic payment include use of ACH or Automated Clearing
House, e-checks, direct debit, debit cards, and credit cards.

Types of Electronic Payment Transactions

One time electronic payment transactions are common to e-commerce sites like eBay. All
you have to do is type in your credit card information when you click on the shopping cart
icon. The site then checks the information you have provided and sends you an email
regarding your transaction after the account was verified. Some sites accept e-checks. In this
electronic payment method, you have to input your bank routing number in conjunction with
the account number to send payments.

Recurring payments, on the other hand, are those payments made for long-term or recurring
financial responsibilities such insurance payments, loans, phone bills, electric bills, etc. Some
services that require memberships like gyms require this mode of payment from their clients.

Benefits of Using Electronic Payment

 Convenience: The most apparent benefit of this mode of payment is the convenience it can
offer us. With electronic payments, all you have to do is input your account and shipping
information and the transaction can proceed. Payment of bills can also be done easily
without the usual long lines and hassles.
 Lower Costs: Due to automation of functions such as credit card processing and payment,
electronic payments have lowered the cost of doing business. There’s less postage fees,
paper consumed, and personnel as well as resources needed the costs are smaller.

Electronic Payment Security

Questions have been raised regarding the security of electronic payments and most of these
stem from the fear of having confidential and private information compromised. Identity theft
is a valid concern, and this has cast some doubts on the security of electronic payments.

However, there are some basic security measures that can be taken to greatly minimize the
risks involved. Some of these include the installation and constant updating of anti-virus and
anti-spyware programs. Installation of firewalls, awareness of new threats online, and
knowledge about how best to deal with these threats would also help.

Making sure that the online transaction is being done over a secure server can also greatly
minimize the risk of compromising your credit card and financial information. This can be
done by looking for the lock or key icon in your browser and for “https” instead of “http” in
the address bar.

Regardless of the security risks, online or electronic payments are here to stay. Just in the
year 2004 alone, more than twelve billion dollars changed hands through Automated Clearing
House payments representing a twenty percent increase from the previous year. Moreover,
more and more banks and financial institutions are providing this method of payment to their
customers. A 2005 survey done on this subject showed that more than 94% of large banking
companies and more than 65% of community banks have started offering these services to
their clients