Electronic Commerce In The European Union: Payment Systems

Reliable, user-friendly, efficient and secure electronic payment systems are key to the development of e-commerce. The European Union (EU) has implemented specific policies and has adjusted its banking directives to the digital environment.

The following questions have been addressed in this article:

What should be the Main Characteristic of a Reliable Online Payment System?
What are some of the Issues at Stake?
What are some Examples of Online Payment Systems?
What International Regulations Exist regarding Online Payments?
What Legislative Framework has been adopted in the EU with respect to Online Payment Systems?

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