Payments are the “conversion moment” in e-commerce. A smooth, secure payment experience reduces cart abandonment and builds trust. This topic covers common payment modes (UPI/cards/wallets), what a payment gateway does, and basic security and fraud prevention.
You should be able to:
Payments directly impact:
A payment gateway is a service that enables online payments by securely transmitting payment information between the customer, merchant, and financial networks (concept).
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Role of payment gateway (concept):
Write any three correct functions.
Difference (concept):
Any three differences are sufficient.
Ecommerce is a method of buying and selling goods and services online. The definition of ecommerce business can also include tactics like affiliate marketing. You can use ecommerce channels such as your own website, an established selling website like Amazon, or social media to drive online sales.
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Payments are the “conversion moment” in e-commerce. A smooth, secure payment experience reduces cart abandonment and builds trust. This topic covers common payment modes (UPI/cards/wallets), what a payment gateway does, and basic security and fraud prevention.
You should be able to:
Payments directly impact:
A payment gateway is a service that enables online payments by securely transmitting payment information between the customer, merchant, and financial networks (concept).
Core roles:
Customer -> Merchant/App Checkout
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v
Payment Gateway
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Bank / Card Network / UPI
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v
Authorization (Success/Fail)
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v
Merchant confirms order -> Settlement later
Remember: authorization is immediate, settlement may happen later (concept).
Exam tip: write definitions + one line difference.
Common security practices:
Typical fraud patterns:
Write in points and add table:
Other controls:
At a basic level, payment systems must follow:
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Digital payments allow customers to pay online using UPI, cards, wallets, etc., enabling faster checkout and better customer experience (concept).
A payment gateway securely captures payment data, routes it to the bank/network, returns authorization status, and supports settlement/refunds and basic risk checks (concept).
Customer -> Merchant Checkout -> Gateway -> Bank/Network/UPI -> Authorization -> Order Confirm -> Settlement
Conclusion: Smooth and secure payments increase conversion and build trust (concept).