Introduction to electronic payment:

The term electronic payment has become a recent topic, as it is developing significantly and noticeably, and this field has invaded the market in a large way because of the impressive privileges offered by electronic commerce from ease, security and other privileges. During the past 15 years, online shopping and payment have changed Electronic payment has been transformed from just being an added value to a basic value, and the growth of major retail stores and specialized stores has helped in this transformation, and e-commerce has become available to everyone through electronic payment.

What is electronic payment?

It is one of the ways to pay and pay all your daily, weekly or monthly obligations electronically, and it is also a system provided by financial and banking institutions to make the electronic payment process safe and easy. For the user, as the electronic payment system has appeared in conjunction with the emergence of e-commerce, so it is considered closely related to information and communication technology, which completes its electronic procedures of buying and selling.

electronic payment platforms

It is a means that helps to complete purchases electronically, that is, using a bank payment card, meaning that it is the link between the buyer and the seller in any online shopping process. It allows the buyer to complete the payment process for his purchases and helps the seller collect his money from the buyer.

Electronic payment methods

Our bank has two types of electronic payment cards linked to the international MasterCard company:

1- Prepaid Cards: These are cards through which you can pay or withdraw cash. These cards are issued by institutions, companies or banks, making it easier for their holders or users to make the purchase at the risk of their issuer.

2- Debit Cards: (Debit Cards), which are cards through which you can pay or withdraw cash. These cards are issued from banks, making it easier for their holders or users to make purchases at the risk of their issuer, provided that a bank account is opened.

The electronic payment card has several advantages, including:
The user can deposit a specified amount of money in his account with the prepaid credit card, and when the user makes any purchase using this card, the bank will deduct the amount from the available credit balance.
Another advantage of the prepaid credit card is that it is considered safer for the holder who carries a sum of money, as it provides insurance on purchases, insurance for emergency cases and hotel reservations, and the bank also benefits from these operations that are carried out using the card, and receives a commission for each work.