Web payment service

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Web payment 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 payment service, PayPal, Bitcoin, Brodia, CyberCash, e-cash, eCharge, InternetCash, iPIN, Qpass, Windows Live ID and 1ClickCharge.
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References in periodicals archive ?
During the six-month period, the company had launched e-Wallet, the new mobile digital payment service in collaboration with Noor Bank.
Etisalat and Noor Bank today announced the launch of eWallet, a new digital payment service aimed at empowering UAE customers with safe, convenient, and flexible payment solutions using a mobile device.
Summary: Etisalat and Noor Bank have announced the launch of eWallet, a new digital payment service aimed at empowering UAE customers with safe, conv...
Mi Pay will add to the existing players like Google Pay, Samsung Pay, Amazon Pay, etc that already have their operations running in the Indian digital payment service market.
The digital payment service will change transaction and payment methods for clients and increase convenience.
Mastercard's digital payment service will enable Phillips 66 customers to pay both at the pump and in the convenience store within the My Phillips 66 App.
Masterpass is a simple, convenient and trusted digital payment service for faster and safe shopping at thousands of retailers -- online, in-app or in-store.
Riyad Bank, one of the largest financial institutions in Saudi Arabia, announced the launch of the Mastercard Digital Enablement Service (MDES), becoming the first local bank to offer the new global digital payment service in the Kingdom.
UBL recently launched the MasterPass QR digital payment service in partnership with Mastercard.
American Express has launched a new digital payment service that provides corporations with something that banks to date have not been able to offer--a consolidated offering that supports check, ACH, wire and credit card payments.
23 -- TimesofMoney, India's leading digital payment service provider, has signed a service agreement with Federal Bank to offer remittance solutions to all Federal Bank customers worldwide.
To support more overseas institutions to issue UnionPay virtual cards seamlessly, UPI has built the SaaS card issuance platform to upgrade its digital payment service capabilities.