Payment Systems
Payment Systems are integrated platforms and technologies that enable secure electronic transactions for transferring funds between parties, such as customers and merchants. They handle critical functions like payment processing, fraud detection, compliance with financial regulations, and settlement across various methods including credit cards, digital wallets, and bank transfers. These systems are essential for e-commerce, mobile apps, and in-person retail, ensuring reliable and efficient financial operations.
Developers should learn about Payment Systems when building applications that involve monetary transactions, such as e-commerce websites, subscription services, or fintech products, to ensure secure, compliant, and user-friendly payment experiences. This knowledge is crucial for integrating with payment gateways, handling sensitive data like credit card information, and implementing features like recurring billing or multi-currency support, which are vital for global business operations.