Payments in EPS are similar to traditional banking operations. The client uses a special electronic wallet, for access to which a plastic card can be issued for non-cash transactions.
Modern electronic payment systems operate according to the following model:
The user transfers funds to the EPS account (cash/non-cash).
The operator converts them into electronic currency, deducting a commission.
The user pays for goods and services in the electronic payment system by money transfers using funds in an account opened on the platform. The seller must also use the appropriate EPS or aggregator.
The seller receives funds from the buyer in the form of units used within the system.
It also converts electronic finances into traditional banknotes (cash or non-cash), paying a commission to the operator.
This is a fundamental model. In reality, each operator has some nuances, but they do not change the mechanism as a whole.
The electronic payment system also fusion database acts as an intermediary between the parties to the transaction, monitoring the timeliness and completeness of the payment. The operator also ensures the return of funds if the buyer violates the terms of the contract by his actions, for example, sells a low-quality product or does not deliver it at all.
To register in any payment system, you will need to come up with a login, which is often an email address, and a password. Various services may require you to provide other information, such as:
Phone number.
Citizenship.
Registration and residence address.
Passport or other identification document.
Source of funds.
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Alexander Kuleshov
Alexander Kuleshov
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