Prabhu jagatbandhu college

Digital Payment
Lecturer:- YOUSUF KHAN
Semester:- 2nd
Subject:- E-Commerce
Chapter:-
PRABHU JAGATBANDHU COLLEGE
What is a Digital Payment ?

To put it in simple words, a digital payment occurs when goods or services are purchased through the use of various electronic mediums. There is no use of cash or cheques in this type of payment method.

What is a Cashless Economy ?

In a cashless economy, all transactions are carried out using different types of payment methods and this does not involve the physical use of money for the purchase of various goods and services.

Methods Of E-Payment
Payment Card [Credit and Debit Card]
Electronic or Digital Cash
Electronic or Digital Wallet
Store value card [Smart card]
Store value card [Smart card]
1. Payment Card [Credit and Debit Card]
a) Credit Card:-
Credit card are very commonly used as a tool for electronic payment.
It is a thin plastic card that can be used to buy items, meet food or restaurant bills, booking of airline tickets etc. Any credit card allows a user to pay later for the items one has bought or the services availed, hence the name credit card is given. This process of payment is known as charging. Charging means that one user had paid for the items his or her credit card by promising to pay when the user had signed the credit card receipt. Credit card are normally issued from a bank or any authorized authority.
1. Payment Card [Credit and Debit Card]
Security issues while using Credit card-

• Taking Care of one’s credit card receipts.
• The credit card should not be out of one’s sight.
• Losing a credit card.
• Keeping two different credit card in different place while travelling.
• Security issues while shopping online.
• Taking care of old / previously used credit cards.