What are the characteristics of electronic payment compared with traditional payment?

Compared with traditional payment, the characteristics of electronic payment are as follows.

1. Electronic payment uses advanced technology to complete information transmission through digital circulation, and all payment methods are digital, while traditional payment methods are through physical entities such as cash circulation, bill transfer and bank remittance.

2. The working environment of electronic payment is based on an open system platform (Internet), while traditional payment runs in a relatively closed system.

3. Electronic payment has the advantages of convenience, quickness, high efficiency and economy. You 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.