What is e-payment?
An online payment method to compliment e-procurement software. E-Payment is fast, secure and can replace cheque writing. While a company’s e-procurement system automates the front-end of the procurement process, e-payment automates the back-end

What are the benefits of e-billing and e-payment?

Benefits include:

Saves money - no check writing or stamp buying or potential late fees
Saves time - no more waiting for the bill in the mail or waiting in line to pay
Private and Secure
Free service offered by the U
E-bill has been re-designed for less confusion
Easy and convenient
Available 24 hours a day 7 days a week
Available world-wide via the Internet
Easy access for parents or other authorized payers to pay your tuition bill
Can forward your bill to parents or others in an e-mail attachment
Can print a copy of your e-bill from the web

What is E Payment
E payment is a subset of an e-commerce transaction to include electronic payment for buying and selling goods or services offered through the Internet. Generally we think of electronic payments as referring to online transactions on the internet, there are actually many forms of electronic payments. As technology developing, the range of devices and processes to transact electronically continues to increase while the percentage of cash and check transactions continues to decrease. In the US, for example, checks have declined from 85% of non-cash payments in 1979 to 59% in 2002, and electronic payments have grown to 41%.
The Internet has the potential to become the most active trade intermediary within a decade. Also, Internet shopping may revolutionize retailing by allowing consumers to sit in their homes and buy an enormous variety of products and services from all over the worlds. Many businesses and consumers are still wary of conducting extensive business electronically. However, almost everyone will use the form of E Commerce in near future.
This site will discuss the e commerce developing procedure in national level especially on e payment system. Also strategy for fostering increased business and consumer confidence in the use of electronic networks for commerce and payment system.
Types of E Payment
The following types of electronic payments are most common today. That said, it is important to realize that new payment types are continual being discovered and there are additional methods that exist or are being developed continuously. 
 Cards
Credit cards, debit cards and prepaid cards currently represent the most common form of electronic payments. For all 3 types of cards the consumer or the business most often uses a plastic card, commonly with a magnetic stripe. The cardholder gives his or her card or card number to a merchant who swipes the card through a terminal or enters the data to a PC. The terminal transmits data to his or her bank, the acquirer. The acquirer transmits the data through a card association to the card issuer who makes a decision on the transaction and relays it back to the merchant, who gives goods or services to the cardholder. Funds flow later for settlement with credit cards and are debited immediately for debit or pre-paid cards.
Along with magnetic stripe cards, smart cards are and will increasingly be used for payments. Smart cards are at present overwhelmingly plastic credit cards with an embedded computer chip. Until recently, many smart cards operated using proprietary rather than common standards. A standard set of specifications, EMV, has been developed and is being used increasingly so that the chips on smart cards are interoperable. Korea and Japan are among the most advanced countries in Asia for smart card payments, with Malaysia catching up fast due to government mandates for banks to issue smart cards. Most credit and debit cards are expected to be issued or reissued as smart cards by 2008 or earlier.
Over time, the chip for payment can be expected to move onto other devices. A “smart card” might then become the computer chip in a phone, PDA or other device that can perform the same function as chip in a plastic card, eliminating the need for the actual plastic card. Smart cards could thus evolve into “smart phones”, “smart PDAs” or other “smart” devices.
 Internet
Online payments involve the customer transferring money or making a purchase online via the internet. Consumers and businesses can transfer money to third parties from the bank or other account, and hey can also use credit, debit and prepaid cards to make purchases online.
Current estimates are that over 80% of payments for online purchases are made using a credit card or debit card. At present, most online transactions involve payment with a credit card. While other forms of payment such as direct debits to accounts or pre-paid accounts and cards are increasing, they currently represent a less developed transaction methodology.
 Mobile Payments
Mobile phones are currently used for a limited number of electronic transactions. However, the percentage seems likely to increase as mobile phone manufacturers enable the chip and software in the phone for easier electronic commerce. 
Consumers can use their mobile phone to pay for transactions in several