Question

Write an essay on use and disuse of online payment?​

Answer 1

Explanation:

In this literature review, we will describe several aspects of e-payment system. The literature review will start by the definitions followed by theories. Next, it would continue by some dimensions of e-payment system which include the types and usages of e-payment system, processes, usage trends, benefits and risks and management of e-payment system. Finally, the literature review will conclude by the conclusion.

2.0 Definition

From online encyclopedia TriasWiki (2010), e-payment or Electronic payment is any digital financial payment transaction involving currency transfer between two or more parties.

Velmurgan,R.J. and Senthil,M. (2008) defined that an electronic payment is a payment services that utilize information and communications technologies including integrated circuit (IC) card, cryptography, and telecommunications networks. From the Velmurgan,R.J. and Senthil,M. (2008), the electronic payment consists of users who can in turn be subdivided into retailers and consumers depending on the transaction model adopted, issuers which included banks and other financial institutions that are providing the actual mechanisms or the means to integrate the mechanism into other financial systems, and regulators who are concerned with issues ranging from assuring the integrity of the mechanism and its operators, to the potential impact on the wider economy.

According to Nochex.com (2010), e-payment is defined as an electronic payment is a payment services that utilize information and communications technologies including integrated circuit (IC) card, cryptography, and telecommunications networks.

Based on Hartmann,M.E. (2006), in principle, e-payments may be defined as all payments that are initiated, processed and received electronically. One can distinguish between e-commerce retail payments (business-to-consumer or B2C payments) and e-payments amongst consumers (Private-to-Private or P2P payments), as well as electronic adoptions of “traditional” banking services (electronic transactions between a bank and its customers. For example, e-payments included paying for an article with a click of your mouse; settling an auction purchase via your e-mail account; buying an electronic ticket using your mobile phone.