The internet has become both a centre and a platform for commerce and this is reshaping payment systems across the
world. Changes include moves to phase out cheques and a decline in the rate at which the use of credit and debit cards
increases. But the most significant change to payment systems has been the rise of electronic banking – and numerous associated payment platforms. Services offered by traditional banks are increasingly accessed online from internet- connected fixed and mobile devices; statutory payments must increasingly be made electronically; payment options using mobile phones are proliferating; businesses and consumers have a myriad of ways to make and accept payments for goods and services.