What are the essential qualities of a electronic payment system?



The important properties of electronic payment system are as follows
(i) Acceptability For electronic payment to work, the system must be widely accepted by and acceptable to merchants. Merchants must have the technical ability and the processes to expedite a sale without delay.
(ii) Ease of Integration The software that accommodates the user and the website interface, must be effective and well integrated into the total network environment. It should also be independent of any other payment instrument.
(iii) Customer Base There must be enough users and enough traffic to justify investing in the electronic payment mechanism.
(iv) Ease of Use and Ease of Access Users don’t like to wait. Using a payment system should be
as easy as hitting button on the screen.