What are Online payment and its advantages?

Online payment is the process of performing transactions without using cash. It generally refers to paperless transactions using modern days solutions i.e. payment gateway. through internet. Several modes of E-payments are credit cards, debit cards, electronic fund transfers (EFT), e-cheques, etc.
Advantages of Online payment:
  1. Cashless/paperless transaction.
  2. Great safety and security from physical theft.
  3. Virtual fund transfer minimizes human interaction
  4. Can be used to perform online shopping.
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