Glossary / Also known as

Electronic payment

Another name for Digital Payment.

Other names

What does electronic payment mean?

Electronic payment is another name for Digital Payment. Any payment made electronically - via UPI, cards, net banking, or wallets - without physical cash changing hands.

The two names mean the same thing. You will see "electronic payment" in some ledgers, reports and contracts and "Digital Payment" in others. The full entry covers how it works, with examples.

Read the full definition of Digital Payment

Topics

Payments and banking

From the glossary

Related terms.

Payments and banking Digital Payment Any payment made electronically - via UPI, cards, net banking, or wallets - without physical cash changing hands. Also called electronic payment, e-payment, online payment Payments and banking UPI (Unified Payments Interface) India's real-time payment revolution - send money instantly using just a phone number or UPI ID, 24x7, for free. Also called UPI payment, BHIM UPI Payments and banking Razorpay India's dominant payment gateway - processing card, UPI, and net banking payments for businesses of every size. Also called Razorpay payment gateway GST reconciliation GST Reconciliation The process of matching your purchase records with supplier-filed GSTR-2A/2B data to ensure accurate and compliant Input Tax Credit claims. Also called GST recon, GSTR reconciliation, 2A/2B reconciliation Vendor onboarding KYC (Know Your Customer) The mandatory identity verification process used by financial institutions and businesses to confirm client identities and prevent fraud. Also called know your customer checks, KYC verification, customer due diligence Payments and banking ACH Transfer Batch-processed electronic bank transfers powering payroll, EMIs, and recurring payments across India. Also called Automated Clearing House transfer, ACH payment, ACH

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