There are various types of electronic categories for the e-commerce system. The most popular type of electronic payment is the digital wallet. By using the digital wallet for paying purchases over the web more efficiently and by eliminating the need repeated information for each purchase. The digital wallet is more secure the owners information automatically when the information is completed for a purchase. For example; the consumer would not have repeat credit-card information each time they purchase something. 2.
Another type of electronic payment is micropayment this was developed for smaller purchase amounts, such as; music downloads, individual articles, which would be too small for conventional credit cards. This type is less secure and would have to repeat information for each purchase by the consumer. For example; if the consumer was to purchase music to download they would have to enter the information for each song they purchase. 3.
Unlike the micropayment accumulated balance digital payment system enables users to make payments on the web, thus accumulating a balance that the user could pay periodically on their credit or telephone bills. This type is for the consumer in payment on bills such as credit-card, telephone, car-payment, or car insurance. Although this type is also is less secure and the consumer has repeatedly entered the information for each transaction they do. 4.
A different type of electronic payment is stored value payment system which allows consumers to make instant online payments to business or individuals which is based on value of the store online digital account. Though the credit-line of the store for the consumer maybe low or high and payment may direct to the store this to is unsecure type of system. 5.
The last type of digital payment is digital checking systems that the consumer PayByCheck extends the functionality of existing checking accounts so they can be used for online shopping payments. This type of digital...
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