1. ELECTRONIC PAYMENT SYSTEMS MGT 546 PREPARED FOR: SHAMSUL BAHARIN SAIHANI PREPARED BY: SITI SHAMEEN ALIA BINTI ALIAS NUR ATIQAH BINTI MOHD MAZLAN

2. TYPES OF ELECTRONIC PAYMENT SYSTEM

3. Digital cash/currency Systems that allows a person to pay for goods or services by transmitting a number from one computer to another e.g. bitcoins.com There are 10 key elements to a successful, private digital cash system: ● Secure ● Anonymous ● Portable ● Two-way ● Off-line capable ● Divisible ● Infinite duration ● Wide acceptability ● user-friendly ● Unit-of-value freedom

4. Digital wallet are small electronic packages that automatically supply information such as credit card numbers and shipping addresses for use in conducting Internet transactions Credit card/debit card A debit card (also known as a gift card) is a plastic card which provides an alternative payment method to cash when making purchases

5. Electronic Fund Transfer (EFT) is a system of transferring money from one bank account directly to another without any paper money changing hands. e.g. Direct Deposit from Maybank2u.com.my. Another method similar to EFT is called Financial Processing Exchange (FPX). FPX is an alternative payment channel for customers to make payment at e-market places such as websites and online stores.

6. PayPal is the most popular way to pay without sending your bank information through a potentially unsecured website using PayPal email address to transfer funds. See alternatives: Google Wallet, Moneybookers(Skrill), Paymate, Payza, Payoneer, Wepay. Web Certificate A web certificate will basically function like any debit card in that it has a unique number to identify the card, and it can be used for both online purchases and purchases from physical retailers. For example Groupon

7. Bill Me Later is another secure alternative to make payment at later stage e.g. billmelater.com (A PayPal company) Prepaid Card Advances Technological advances in prepaid card enable cardholders to manage their prepaid card account using their mobile phone e.g. Mobilewallet2u.com/ikobo