Payment for the products and services purchased is an obvious and vital set of processes in electronic commerce transactions.
But payment processes are not simple, because of the near anonymous electronic nature of transactions taking place between networked computer systems of buyers and sellers, and many security issues involved.
Electronic commerce payment processes are also complex because of the wide variety of debit and credit alternatives and financial institutions and intermediaries that may be part of the processes therefore, a variety of electronic payment systems have evolved over time.
In addition, new payment systems are being developed and tested to meet the security and technical challenges of electronic commerce over Internet.
Electronic Payment Processes
