electronic payment systems

Electronic Payment Systems are digital methods that allow individuals and businesses to send and receive money over the internet. They include options like credit and debit cards, online banking transfers, mobile payment apps, and digital wallets. These systems facilitate transactions without the need for physical cash, making payments quicker and more convenient. They use secure technologies to protect personal and financial information during transactions. Overall, electronic payment systems have revolutionized how we conduct financial exchanges, offering efficiency and ease while enhancing the consumer experience in today’s digital economy.