Online Payment System
/ˈɒn.laɪn ˈpeɪ.mənt ˈsɪs.təm/
Definitions
- (n.) A digital platform or service that enables electronic transfer of funds for purchases or transactions over the internet, governed by consumer protection, data security, and financial regulations.
The online payment system must comply with data protection laws to ensure user privacy.
Forms
- online payment system
- online payment systems
Related terms
See also
Commentary
In legal drafting, specify the jurisdictional regulatory framework applicable to ensure clarity on compliance obligations for online payment systems.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.