What's the difference between electronic payment function and online payment function?

There is no difference between the two. Electronic payment function, that is, online payment function, refers to the behavior that consumers, businesses and financial institutions use secure electronic means to securely transmit payment information to banks or corresponding processing institutions through information networks to realize monetary payment or capital circulation.

Electronic payment or network electronic payment is based on financial electronic network, with commercial electronic equipment and various transaction cards as the media, and with computer technology and communication technology as the means, money is stored in the computer system of the bank in the form of electronic data (binary data), and circulation and payment are realized in the form of electronic information transmission through the computer network system. In the era of advocating environmental protection and energy saving, it is undoubtedly an advanced means of payment and circulation with low carbon and environmental protection.

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Characteristics of electronic payment or online payment:

1. Online payment uses advanced technology to complete information transmission through digital circulation, and all 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 online payment is based on an open system platform (Internet); However, traditional payment is operated in a relatively closed system.

3. Online payment uses the most advanced communication means, such as Internet and extranet, while traditional payment uses traditional communication media. Online payment requires higher hardware and software facilities, and generally requires networked microcomputers, related software and other supporting facilities, while traditional payment does not have such high requirements.

4. Online 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.

Online payment can completely break through the limitation of time and space, and can meet the working mode of 24/7 (24 hours a day, 7 days a week), and its efficiency is beyond the reach of traditional payment.

5. Technical support for online payment. Due to the intangible and electronic characteristics of online payment tools and payment processes, the security management of online payment tools can not rely on ordinary anti-counterfeiting technology, but can be realized through the security protection functions of network security equipment such as user passwords, software and hardware encryption and decryption systems, firewalls and so on.

Baidu encyclopedia-electronic payment

Baidu encyclopedia-network electronic payment

Baidu encyclopedia-online payment