There are five main types of payment: cash, transfer checks, credit cards, stored value and accumulated balance.
Cash
The key feature is that you can cash instantly convert other forms of value without the intermediary of another institution. Cash is portable, requires no authentication and provides instant purchasing power to those who possess it.
Cash is anonymous and difficult to trace, and in that sense is private, then I is limited to smaller transactions, easily steals and provides no floating period; disappears when spent.
Checking transfer
Funds transferred directly through a signed bill of exchange or check, checking account from a consumer to a merchant or other person.
You can use transfer checks for small and large transactions are not anonymous and require the work of institutions formed by third parties.
Credit card
Represents a bill that extends credit to consumers who purchase items allow deferring payments, and make payments to several dealers simultaneously.
Account created to deposit funds into an account, and paid or withdraw funds as needed. They are similar in some respects to the transfer of checks but do not involve writing a check.
Credit card - takes immediate positions in a checking or other demand deposit account.
It is an account that accumulates costs and for which consumers make periodic payments Examples are utilities and phone bills American Express, all of which accumulate balances during a specified period.
PAYMENT SYSTEMS OF COMMERCE.
An electronic payment is a payment system that facilitates the acceptance of electronic payments for online transactions over the Internet.
The EPS or electronic payment systems, perform the transfer of money between buyers and sellers in a stock buy-sell electronics through a financial institution authorized by both. It is therefore a key element in the process of buying and selling in electronic commerce.
Credit card transactions online
Systems online credit cards work in a similar way as they do today. The client can use if you want your current credit card to buy goods in a store. The main innovation is the development of encryption standard SET (Secure Electronic Transaction) by major credit card companies.
Commercial Proceeding.- account bank account that allows businesses to process credit card payments and receive funds from these transactions.
Enablers Ecommerce credit card.
Service providers of Internet payments can provide a merchant account and the software tools needed to process purchases online with credit cards Ex: Authorize. et is a provider of Internet payment service.
System limitations payment by credit card online.
The most important include security, merchant risk, cost and social equity.
Credit cards are not very democratic although they seem ubiquitous. Millions of young adults do not have credit cards because they can not afford a credit card or considered a bad risk because of their low income.
An alternative payment system, developed for electronic commerce in which authenticated and unique tokens representing the cash value, consumer marketers are transmitted.
Payment systems online stored value.
It allows consumers to make instant payments online merchants and other individuals, based on the value stored in an account online.
Inteligente.- card plastic card the size of a credit card with an embedded chip that stores personal information; can be used to support wireless mobile payments electronic commerce.
Radio identification frecuencia.- automatic identification method that uses radio signals from short range to identify objects and users.
Digital payment systems accumulated balance.
Allows users to make micro payments and shopping Web, accumulating a debit balance for which they receive a bill at the end of the month.
These systems are ideal to buy IP web, such as music tracks, chapters of books or articles.
Payment systems with digital checks.
Seeks to extend the functionality of existing checking accounts, to be used as payment tools online shopping.
To authorize the payment, a user must write their full name and, in certain cases, if required by the trader, the last four digits of your social security number. The check is deposited by the merchant and consumer sent to the bank for payment, in the same way that a check written a checkbook. It should be noted that this system has not been as successful due to the difficulties of verifying customer online.
The use of mobile handsets as payment devices is well established already in Europe, Japan and South Korea. Japanese cell phones support electronic cash, debit cards mobile phones and credit cards.
Consumers can pay merchants by simply swiping your phone in front of a commercial payment device that can accept payments.
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