Define Online Payment Processing

Primary objective of this article is to define Online Payment processing. Online payment refers to money that will be exchanged electronically. Usually, this involves using computer networks, the net and digital stashed value systems. The online payment systems are usually e-commerce businesses permitting money transfers being made only with the Internet. They work as a fast as well as secure electronic substitute for traditional methods while cheques and income orders. The systems carry out payment processing not simply for online suppliers, auction sites, along with corporate users however between their costumers, for which it charges a fee and that is much less as opposed to bank wire transport equivalent.