GLOBAL TRENDS IN THE DEVELOPMENT OF PAYMENT SYSTEMS
The advent of e-commerce together with the growth of the Internet promoted the digitization of the payment process with the provision of various online payment methods like electronic cash, debit cards, credit cards, contactless payment, mobile wallets, etc. Besides, the services provided by mobile payment are gaining popularity day-by-day and are showing a transition by advancing towards a propitious future of speculative prospects in conjunction with the technological innovations. This paper is aimed at evaluating the present status and growth of online payment systems in worldwide markets and also takes a look at its future. In this paper, a comprehensive survey on all the aspects of electronic payment was conducted after analysis of several research studies on online payment systems.