The difference between online payment and bank transfer payment process

Online payment is a form of electronic payment and an instant payment method through the payment interface between the third party and the bank. The advantage of this method is that the funds can be directly transferred from the user's bank card to the website account, and the remittance will arrive immediately without manual confirmation. Customers and businesses can use credit cards, electronic wallets, electronic checks, electronic cash and other electronic payment methods for online payment, saving transaction costs.

Online banking or electronic banking has two meanings: one is the concept of institution, which refers to banks that operate business through information networks; The other is the concept of business, which refers to the financial services provided by banks through information networks, including traditional banking services and emerging services brought by the application of information technology. In daily life and work, what we refer to as online banking is more of a secondary concept, that is, the concept of online banking service. Online banking is not only a simple transfer of traditional banking products from the Internet, but also some changes have taken place in other service modes and connotations, and new business varieties have emerged due to the application of information technology.

Online banking, also known as online banking and online banking, means that banks provide customers with traditional services such as account opening, inquiry, reconciliation, inter-bank transfer, credit, online securities, investment and wealth management through the Internet, so that customers can safely and conveniently manage current and fixed deposits, checks, credit cards and personal investments without leaving home. It can be said that online banking is a virtual banking counter on the Internet.

Online banking is also called "3A Bank" because it is not limited by time and space, and can provide financial services to customers anytime, anywhere and in any way.