The biggest disadvantage of electronic payment systems is the increased security risk to both the seller and buyer. Other disadvantages for sellers are higher overhead cost, delayed access to earnings and additional workload.
Any time information is sent electronically, it is at risk of being accessed and exploited by unauthorized parties. To combat this heightened risk, many companies require annual verification of credit card information or other security measures.
Sellers who accept electronic payments have to cover the cost of installing the payment system and often pay processing fees. In addition, sellers have to set up and maintain ordering and payment systems. Transferring money electronically also usually has a set hold period for transactions, delaying the vendor's receipt of funds.