New technology, enabling the digital coding, encryption, transfer, management and analysis of data, including information and financial value, has evolved at an extraordinary pace over the last 20 years, driving changes in the social and commercial spheres. In that, globally, electronic payment (e-payment) systems has been growing recognition as well as it has the potential to provide more efficient and reliable delivery of cash payments than manual cash-in-envelope systems. The four electronic payment systems that are currently being used are Online Credit Card Payment System, Online Electronic Cash System, Electronic Cheque System and Smart Cards based Electronic Payment System. This paper analyses the difference of each electronic payment system by evaluating their requirements, characteristics and assess the applicability of each system. © 2017 Institute of Advanced Scientific Research, Inc.. All Rights Reserved.