Web payments service

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Also found in: Financial.

Web payments service

An online service that manages the transfer of funds from a customer to the merchant of an e-commerce website. The money may come from a prepaid account or credit card stored in a digital wallet in the user's device or stored in the service's datacenter.

Credit Cards and PayPal
In the late 1990s, many people were reluctant to pay for merchandise online via their credit cards. In addition, it was believed that information would be widely sold for a few cents (micropayments) per article. As a result, several payment systems emerged to make online payments more reassuring than credit cards. Most of them have faded or evolved into parts of other financial systems. Today, credit cards are widely used online, and PayPal has also endured with its various money transfer methods. See mobile payments service, PayPal, Bitcoin, Brodia, FaceCash, CyberCash, e-cash, eCharge, InternetCash, iPIN, Qpass, Windows Live ID and 1ClickCharge.
References in periodicals archive ?
In case of any issue at the time of utility bill payment consumers can register their complaints by calling 118, the spokesperson added.
M2 EQUITYBITES-May 7, 2019-Mastercard Acquires Trasactis to Strengthen Bill Payment Services
KARACHI -- Pak-Qatar Takaful Group has signed an agreement with 1LINK (Pvt) Limited to digitize their payment collection methods through 1LINK's bill payment service.
As per the agreement between TCS and 1LINK, TCS will be assuming the role of bill initiator whereas 1LINK will be leveraging its Bill Payment Service.
Salman Akram, CEO TCS, said 'We are pleased to collaborate with 1LINK in offering a customized, state-of-the-art bill payment option to our consumers.
Speaking on the occasion, Salman Akram, CEO TCS, said "We are pleased to collaborate with 1LINK in offering a customized, state-of-the-art bill payment option to our consumers.
Due to the theft of gas and delay in bill payment by consumers, the province has faced gas shortage.
22, Geneva utility bill payment customers will have to create a username and password to access their accounts online.
RAKBANK's recent partnership with Federal Electricity & Water Authority (FEWA) will facilitate FEWA bill payment solution through the Bank's Digital Banking platform and other touch points for RAKBANK customers that live and have businesses in the emirates of Ras Al Khaimah, Ajman, Umm al Quwain, and Fujairah.
The bank's Group Head of E-Business, Mr Chuma Ezirim, said in a statement in Lagos on Monday that the bank also accounted for 37 percent bill payment services on ATMs in the nation's banking industry.
(NASDAQ: PYPL) has closed the acquisition of Canadian multi-channel bill payment processing and receivables management firm TIO Networks Corp.