What are the different types of electronic payment?

Methods and Types of Electronic Payment - Credit cards, debit cards and automatic clearing houses are just a few of the methods and types of electronic payment. Learn more at HowStuffWorks.

What is an electronic payment?

An electronic payment is any kind of non-cash payment that doesn't involve a paper check. Methods of electronic payments include credit cards, debit cards and the ACH (Automated Clearing House) network. The ACH system comprises direct deposit, direct debit and electronic checks (e-checks).

What are the different types of e-payments?

Typically, e-payments fall into one of two categories: One-time payments: As the name implies, this is a single, one-time payment. For example, if a customer uses a credit card to purchase a cake at a bakery, that’s a one-off e-payment.