E-Commerce covers the whole online process; development, marketing, sales, delivery, service, and payment for products and services. E-Commerce systems rely on sources from the Internet, intranets, extranets, and other technologies that support every step of the process of E-commerce Payment Processing service.
Methods of payment on the internet there are five mechanisms:
1. Transaction-ATM model, which involves only financial institutions and account holders who will perform removal or deposit money from each of your account.
2. Payment of the two parties without intermediaries, the transaction is done directly between two parties without the intermediary and uses its national currency.
3. Payments by the mediation of a third party or using Credit Card Processor Solutions, usually involving the payment process debit, credit or check include in this category. You can directly visit www.fivestarpayments.com to get more information.
4. Micro payment, in simple language is the payment for the small pieces of money. Developed of micro payment mechanism is important because very little payment’s change is required without overhead high transaction.
5. Anonymous digital cash, electronic money to be encrypted. Electronic money ensures the privacy of users is still guaranteed as the same cash currency like money and coins as we know it.
For payment, e-commerce provides many alternatives. The first trick is to register as a customer on the web. Buyers who already have a credit card can use the card for payment via Services for Processing Merchant Accounts.
In addition to credit cards, the other alternative is to use e-cash. E-cash is actually a special account for payment over the internet. The account is opened by using a credit card that belongs to the card owner. Customer just needs to fill in the e-cash before used.