Chapter 3: Digital Payments
Digital Payment
A digital payment, sometimes called an electronic payment, is the transfer of value from one payment account to another using a digital device such as a mobile phone, POS (Point of Sales) or computer, a digital channel communications such as mobile wireless data or SWIFT (Society for the Worldwide Interbank Financial Telecommunication).
Cashless Economy
Cashless economy, refers to the economy where transactions are done using digital payment methods instead of using cash for the purchase of various goods and services.
Types of Digital Payment
Types of Digital Payment
Payment Card (Credit & Debit Card)
Point of Sale (PoS)
Store-Value Card
Mobile Wallets
E-Money