Online Payment Systems
Online payment systems are platforms and services that enable secure electronic transactions over the internet, allowing businesses and individuals to send and receive payments digitally. They handle payment processing, fraud detection, currency conversion, and compliance with financial regulations, integrating with e-commerce websites, mobile apps, and other digital services to facilitate seamless transactions.
Developers should learn about online payment systems when building e-commerce applications, subscription services, or any digital platform requiring monetary transactions, as they ensure secure, reliable, and compliant payment handling. This is crucial for reducing fraud risks, improving user experience, and meeting legal standards like PCI DSS, especially in industries such as retail, SaaS, and fintech.