Different Types of E-commerce payment systems

16 / 11 / 2022

In the digital age, it is important to ensure that your business enables fast and easy-to-checkout payment systems so that your customers have a hassle-free shopping experience, what's better than E-commerce!


In the digital age, it is important to ensure that your business enables fast and easy-to-checkout payment systems so that your customers have a hassle-free shopping experience. E-commerce payment systems provide your customers with a vast array of options to choose from, making their payment experience better and giving them the liberty to choose their preferred payment mode.

So, when you are setting up an E-commerce business, it is important that you have a thorough understanding of E-commerce payment systems and all the available options.

What is an E-commerce Payment System?

An e-commerce or electronic payment system enables transactions over an electronic mode of payment without the involvement of physical money or cheques at the time of transaction. Electronic payment techniques are used by e-commerce enterprises to collect payment for their products and services. The procedure of conducting business online has been dramatically changed by the e-commerce payment systems which have made it simple for both businesses and customers.

payment gateway is used to link a virtual storefront to the payment processing network of your choosing in an online payment system. A robust payment gateway provides multiple secure e-commerce payment options – as listed below – to your customers. To clear your funds, this processing network also collaborates with your bank.

A List of E-commerce Payment Systems

  1. Debit Card

    A debit card is a card with unique credentials and is linked to the customer’s bank account. A debit card deducts money from the user's bank account instantly at the time of the transaction – which is the main distinction between a debit card and a credit card.

  2. Credit Cards

    Credit cards are the most popular form of payment for e-commerce transactions. Enabling credit card payments on your website can enable customers to shop without having to worry about paying upfront.

  3. E-Wallet

    The E-Wallet can be thought of as a prepaid account that enables users to store a variety of debit cards, credit cards, and other payment methods in a safe environment without having to enter their credentials each time they wish to make a purchase. The use of electronic wallets is expanding every day. E-wallets enable customers to skip entering card information each time, thus promoting a rapid checkout. PhonePe, PayTM, Mobikwik, Amazon Pay, etc are some of the well-known digital or E-wallets in India.

  4. Smart Card

    In terms of appearance, debit/credit cards and smart cards are somewhat comparable. Smart cards, however, contain an embedded microprocessor chip. It has the ability to store money as well as a person's personal and professional information. Faster processing is possible with smart cards at lower rates.

  5. Online banking

    Customers can conveniently make purchases by paying with a bank account directly. The user does not need a debit card to use this e-commerce payment system, but they still need to register with their bank for a net banking facility. The customer only needs to provide their net banking ID and PIN in order to complete a purchase.

  6. Mobile Payment

    Customers may easily and quickly use mobile payment to make purchases using their smartphones. A user only needs to download a mobile payment app from the applications store. They must then link their bank account to that app in order to add money to their wallet and make purchases, as well as to make payments directly from their bank account.

    When a consumer chooses to use that app to pay on an e-commerce website, the app receives a payment request, which it must approve before the payment can be processed.


When it comes to payment gateways for E-commerce websites, there’s a plethora of them out there to choose from. A business must figure out which ones can be the most beneficial payment gateways and integrate them. It is also wise to give customers multiple options as it helps enhance and further personalise their shopping experience.

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Worldline India Editorial Team

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