Smart Card E-Payments and Payment Models Information Technology Essay
By systematically reviewing existing empirical studies, this study puts forward the state-of-the-art classification of digital payment technologies and presents, Objectives: This article aims to explore and raise awareness about various concepts related to electronic , with the rise of the Internet makes electronic commerce popular e-commerce and other e-transactions, electronic payments, e-payments have evolved from one. By systematically reviewing existing empirical studies, this study presents the state-of-the-art classification of digital payment technologies and presents four categories of digital. Businesses need a strong and secure electronic payment system for online transactions. The electronic payment system in India is regulated by the RBI. The system is. This article examines the legal issues surrounding the development of the smart card in three parts. It examines contractual obligations, liability and intellectual property. The characteristics of smart cards make them particularly suitable for use in payment systems. The smart card is logically linked to a bank account and then Benefits of Online Payment. 1. Speed of transactions. Online payments save a lot of time for both the seller and the customer. People don't have to wait in line, take the time to write checks or wait for paper bills. They don't have to wait for the banks to clear their checks so they can access the money. The integration of IoT into smart payments offers numerous benefits: 1. Convenience. IoT-enabled payment methods, such as contactless and mobile payments, are highly convenient, save time and reduce the need for physical payment cards or cash. 2. Security. IoT payments often employ strong security measures, including: In terms of economic growth, online payments have made it easier to reap the benefits of increased demand and market efficiency through greater choice, customer convenience and international. The same goes for young people, who are usually more enthusiastic about new technologies. In addition, practice should focus on the ease of use and purchasing power stability of sending payments.