Electronic payment is a digital way.

Electronic payment is a kind of digital monetary payment or capital circulation.

The so-called electronic payment means that all parties engaged in e-commerce transactions, including consumers, manufacturers and financial institutions, use secure means of information transmission through information networks and adopt digital methods for monetary payment or capital circulation. Compared with traditional payment methods, electronic payment has the following characteristics: electronic payment adopts advanced technology and completes information transmission through digital circulation.

The electronicization and innovation of payment have experienced the development process from the back end to the front end. The application of background IT system and telecommunication network in banks enables the electronic recording and preservation of monetary claims, and realizes the electronic processing of inter-bank payment clearing and settlement. The reform at this stage is hardly noticed by the public.

Compared with traditional payment methods, electronic payment has the following characteristics:

1. Electronic payment uses advanced technology to complete information transmission through digital circulation, and all its payment methods are digital. The traditional payment method is to complete the payment through the circulation of cash, the transfer of bills and the exchange of banks.

2. The working environment of electronic payment is based on an open system platform; However, traditional payment is operated in a relatively closed system.

3. Electronic payment uses the most advanced communication means, such as Internet and extranet; ; Traditional payment uses traditional media. Electronic payment requires high hardware and software facilities, and generally requires networked microcomputers, related software and other supporting facilities; Traditional payment is not so harsh.

4. Electronic payment has the advantages of convenience, quickness, high efficiency and economy. As long as users have a PC with Internet access, they can complete the whole payment process in a short time without leaving home. The payment fee is only a few tenths or even a few percent of the traditional payment.