This form of electronic payment, which does not include the use of cheques or cash, is classified as an e-commerce electronic payment mechanism and is often referred to as an online or mobile payment network. If an individual buys goods and services online, they pay for them via an electronic platform. By and paperwork, shipping costs, and labour costs, paperless e-commerce systems has revolutionized payment collection. These platforms are often user-friendly, require less time than manual processes, and allow businesses to broaden their consumer base. The most frequently used e-commerce payment systems are credit/debit cards, smart cards, money payments, mobile, or online banking. According to Renub Research Report, the United Kingdom Ecommerce Payment Market is projected to hit US$ 203.08 Billion by 2026.