What do you mean by electronic payment system? BCA 6th semester).

 Electronic payment system definition:-

Electronic payment system provide the basic concept of electronic commerce road the created system which developed by electronic taken in the form of electronic cash money and check the electronic token sad three types.

1). Cash or real time

2). Debit or prepared in

3). Credit or postpaid

Component of electronic payment system:-

1). Hardware

2). Software

3). Networking

4). Internet

5). plastic money

Features of electronic payment system:-

1). Continuous 

2). Flexible

3). Safety and security

4). Accept

5). convert

6). Reliability

Advantage of electronic payment system:-

1). Complete online payment

2). Safe private and easy to use

3). user friendly service

4). Two decrease the change of identify person

5). Increase confidence between two or more person.

dis Advantage of electronic payment system:-

1). Virus

2). Hydrator and software failure

3). Limited use of money

4). Cyber crime

Method of electronic payment system:-

1). Electronic funded transfer:- in this method all payments transfer from one percent to another person with the help of online method throw e check.

 application of e-commerce:-

1). Fix government is structure with the help of rules and regulation.

2). Accept problem to manage by government agenda.

3). Authority and responsibility.

4). Provide proper result and measurement tools.

2).Automatic payment schedule:- in this method customer to center payment when customer pay a bill throw a regular schedule directly from your checking account to your credit card.