CBSE Class 11-commerce Answered
Explain any 4 essential qualities of the electronic payment system.
Asked by Topperlearning User | 27 Jun, 2016, 02:47: PM
Expert Answer
- Ease of integration: The software which accommodates the customer and the website interface must be effective. Also, the total network environment must be well integrated and be independent of any other payment instrument.
- Acceptability: The system of electronic payment to work must be widely accepted and acceptable to merchants. These merchants must have the technical skill and the procedures to accelerate a sale without delay.
- User base: There must be sufficient users and traffic to validate investing in the electronic payment system.
- Ease of use and access: Users do not have patience to complete the process on making electronic payment. Hence, the system should be as simple as clicking the button on the screen.
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