The types of electronic payment system have pros and cons for online businesses. Our tips will help you choose the best payment option for your online service. A payment system is any system used to settle financial transactions through the transfer of monetary value, and includes the institutions, instruments, people, rules, procedures, standards, and technologies that make such an exchange possible. A common type of payment system is the operational network that links bank The term electronic payment can refer narrowly to e-commerce—a payment. An e-commerce payment system facilitates the acceptance of electronic payment for online Over the years, credit cards have become one of the most common forms of payment for e-commerce transactions. In North America almost 90% of Methods of online payment · Bank payments · PayPal · Mobile Money Wallets.