Question

Write any four requirements of effective E-Payment system.

Hint:

Trust is the most critical requirement; if users don't trust the security, they won't use the system.

Answer 1

1. Security: The system must use encryption and authentication to protect financial data from theft and fraud.
2. Reliability: It should process transactions accurately and consistently without frequent downtime or errors.
3. Scalability: The system must be able to handle a growing number of users and transactions without performance degradation.
4. Usability: It should be user-friendly, allowing customers to complete payments easily and quickly.