We use payment systems almost every day: purchasing stuff online or paying for delivery services in applications or on mail websites. Such payments have become an integral part of our everyday life: shopping at your favorite store, pizza delivery, donating to your favorite RPG game. Any problems that arise during payment cause only negative emotions. Today, payment systems are the most convenient and the easiest prospective means for monetary payments on the Internet. It is not difficult to understand what payment systems are, because we have prepared for you an article about the operation and testing of online payments.
What is this payment system?
Payment system is a payment organization, a set of rules and procedures of the technical infrastructure that ensures the transfer of value from one entity to another. Its main function is to transfer funds, however, since we are talking about virtual payment services, virtual money substitutes are used. Electronic payment systems in the modern world include debit and credit cards, electronic money transfers, and Internet banking.
Online payment can be made on the websites of Internet acquiring services, payment gateways and electronic money operators, as well as aggregators. Let's take a look at how payment processes happen on the other side of our normal routine.