Question

What do you mean by 'Online Modes of Payment'? Explain its different types.
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Answer 1

Answer:

When you purchase goods and services online, you pay for them using an electronic medium. This mode of payment, without using cash or cheque, is called an e-commerce payment system and is also known as online or electronic payment systems.

Answer 2

Answer:

Explanation:

When making payments or purchases online, many consumers in the U.S. prefer to pay by credit card or with a debit card. ... These alternate methods of online payment include third-party payment services (such as Paypal, Amazon Pay, Google Pay, or Apple Pay), bank transfers, electronic checks, and electronic bill payment.