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E-commerce payment transactions using online banking
Online banking allows a user to execute financial transactions via the Internet. Online / Internet/Web
banking offers customers just about every service traditionally available through a local branch,
including deposits, money transfer, online bill payment etc.
Advantages
• Convenience
• 24 hours-a-day, seven-days a week service (in general)
• Fast and efficient.
• Instant funds transfer
Disadvantages of Online Banking
• New user may face challenges it may discard transaction
• Can be hacked
• Advised to use personal data plans, no Wi-Fi networks, to prevent unauthorized access.
• Connectivity issues may be there
• No face-to-face interaction for any critical issue

E-commerce payment transactions using mobile banking
When you perform or use the online banking services via a mobile, it is called mobile banking.
Difference is Mobile banking is done via a mobile banking app while the online banking is done via
secure website of the bank.
Some popular mobile apps used today are :
• State Bank Freedom (State Bank of India App)
• Mobile Android App (ICICI Bank App
• M-Connect (BOB App)
• Citibank IN (Citibank App)
• NGpay Application (Axis and HDFC BANK

E-commerce payment transactions using payment apps and services
E-wallet is an online electronic wallet to keep money isa electronic form for payments.
Some most popular e-wallets of today are :Paytm, Freecharge, Mobikwik, Citrus Pay, Airtel Money,
Oxigen Wallet, OlaMoney, HDFC PayZapp, Chillr, Pockets By ICICI Bank, JioMoney, SBI Buddy, mRupee,
ItzCashetc.
Govt of India announced a new digital payments app named BHIM – Bharat Interface for Money – after
Babasaheb Dr Bhimrao Ambedkar.
BHIM is a digital payments solution app based on the Unified Payments Interface (UPI) from the National
Payments Corporation of India (NPCI), the umbrella organisation for all retail payments systems in India.