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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
answered-by-expert Expert Answer
  1. 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.
  2. 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.
  3. User base: There must be sufficient users and traffic to validate investing in the electronic payment system.
  4. 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. 
Answered by | 27 Jun, 2016, 04:47: PM
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