A Review of E-Payment System in E-Commerce

Abstract

The Era of Information and Communication Technology (ICT) and digital innovation lead to dynamic changes in the business environment, where business transactions continue to shift from cash-based transactions to electronic-based transactions. The e-payment system was not introduced to replace cash but as a better alternative to cash and trade barter. Electronic payments can be understood as a payment mechanism using electronic media that does not involve cash. Electronic payment system (e-payment) is an important aspect of e-commerce. This study intends to review the available literature for e-payment systems on e-commerce with a view to highlighting the scope of the e-payment system, and the methodology used by previous researchers so as to identify research gaps and recommend for future studies.