Project Work

           OnlinE paYmenT

"Any transfer of funds iniated through an electronic terminal, telephone instrument or computer or magnetic tape so as to order instruct or authorized final institution to debit or credit an account."

IntroDuction          

Online payment refers to money that is exchanged electronically. Typically,this involves use of computer networks, the internet and digital stored value systems. When we collect a payment over the internet, we are accepting an online payment. Online payment usually is the transaction that results of monetary funds from the customer bank or credit card  accoint yo our bank account.

Online PaymeNt systeM In Nepal:

It is gradually increasing as it helps in sending and receiving the money online, buy air tickts,pay utility bills, purchase mobile recharge cards, pay school college bills, internet bills, subscribe newspaper,and magazines online etc. So online payment system has made the livelihood of people's life easier.

How online payment system works?

=> Online payment works by the following ways :

Step1: purchase phases

Step2: Routing and processing phase

Step3: Approval phase and confirmation

Step4: fulfillment

■After the above process completion, the goods will provide to the user.

In Nepal, there are various Online Payment systems. Some of them are:

 1.Khalti   

Khalti is a payment service provider which is owned by Sparrow Pay Private Ltd. Some of the partnered banks are Machhapuchchhre Bank Limited, Nepal Investment Bank. Here Khalti to a bank, Bank to khalti or khalti to Khalti is all possible. It is very compatible to both on the web as well as mobile device. This gateway is being very popular in recent months. Khalti is a digital wallet for an instant, secure online payment in Nepal. Recharging your mobiles, paying bills, air tickets wherever you are and whenever you want.

2.iPay

iPay is another popular payment gateway in Nepal which was developed by Muncha.com. We can add money to our iPay account using mobile banking or e-banking service. It allows the users to process all the types of online payments as for the purchase of the product online telephone recharge cards etc.

3.eSewa

eSewa is the first payment gateway which established in 2009 January. Since it was the first electronic payment, it was very much popular than others. eSewa was linked up with more than 45 banks in Nepal. eSewa was compatible both on web and mobile device. Some of the eSewa Clients are Global IME Bank, NMB Bank, MEGA Bank, etc.

■Here,The picture of Components of online payment system:

     

               ThAnK youU!!!

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