Get to Know Electronic Payment Systems and the Benefits

For those of you who often or have already done online shopping, of course already familiar with online shopping steps. Which is where you start the first step by selecting products from an online store. Then you contact the seller to make a payment transaction after you find the product you are interested in. Next, you just sit down, waiting for the product to come into your hands.

Electronic Payment System is a payment system that uses internet facilities as an intermediary. Currently, many start-ups facilitate sellers and buyers by providing security guarantees for e-commerce transactions. To ensure the security of these transactions, start-ups who are intermediaries will work with a number of banking institutions to start facilitating e-payments safely, quickly and practically.

Benefits of E-Payment
The benefits of e-payments include:
1. Providing ease of payment and expansion of payment media.
2. Increasing the effectiveness and efficiency of time.
3. Improve payment efficiency.
4. Providing transaction security that is more than cash.
5. Improve customer loyalty.

Party Involved in E-Payment
The following are some of the parties involved in the use and provision of e-payment facilities, namely:
1. The buyer who makes payment using the e-payment method
2. The seller who receives e-payment
3. The Issuer, in the form of a bank institution or non-bank institution
4. Regulatory control parties, usually those who oversee and regulate the e-payment process are the government.