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FREE online courses on ECOMMERCE FUNDAMENTALS - Electronic Payment Systems
- Benefits |
Electronic credit has the following benefits:
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The credit card number and expiry date can be prevented
from disclosure to the merchant. This characteristic does not exist in the
traditional credit card systems. In this context, the electronic credit can
provide a higher level of security than traditional credit card systems.
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The electronic credit system can be designed to obtain
almost instant payments to merchants from credit card sales. For traditional
credit card systems, it takes significant time for the merchant to deliver the
credit card receipts to the bank and for the bank to settle the payments.
