Know more about the electronic equipment payment procedure.
Electronic payment is nothing but the non-cash payment Without involving any newspaper cheque. The most common electronic payment methods include credit card, debit card and ACH ( automated clearing house) network. For the above procedures, there are 3 major forms of transactions occur.
One-time client to Seller payment
This really is one of the common methods that is highly Utilized in most e-commerce cvv shop platforms. You will discover a product online and you will proceed to cover that item. Here you will enter all your credit card details in the relevant fields and the website will process your charge card and will send you email notifying you that the payment has been processed. Some websites also accept e-checks rather than credit cards. For sending e-checks you want to form your bank account number along with your bank routing number. Now the vendor authorizes your payment and you will receive the notification.
Recurring customer to Seller payment
Paying your bills isn't a one-time procedure. As it retains Discussing each month, you need to set up a schedule for this payment. Either you'll be able to program the payment with your debit card at which the amount is debited from your account or even you can use your charge card and it will be paid through your credit card. That is one type of transaction that most of us have achieved it.
Automatic bank to Seller payment
In this method, you've got Authorized your seller with your bank account so that the amount will be Automatically transferred to the vendor's account. You can either pick to Have this process occur manually so that each time you're able to initiate the Trade else you can make it happen automatically With no intervention.