Types and tools of electronic payment methods
Bank cards: Are small personal cards, It can be issued by a loan organization, a financial institution or an authorized service, which may place and issue the card, such as banks, the public treasury, and the postal service.
Electronic check: Is the electronic equivalent of the traditional paper checks that we used to deal with, and the electronic check is a documented and insured letter sent by the source of the check to the recipient of the check (holder), To be approved and submitted to the bank, which operates through the Internet to transfer the value of the financial check to the account holder check. The check will then be returned electronically to the check recipient (holder) to be proof that the check has been disbursed. The check recipient can electronically verify that the money has already been transferred to his account.
Electronic money: Electronic money is defined as a set of digital protocols and signatures that allow an electronic message to effectively replace traditional currency exchanges. It is an encoded string of digits, can be carried on a smart-card, or stored on a computer disk.