In today's world of E-Commerce everything comes online like Music,E-Books, Shopping all most everything is online. If you are using some service or buying things online then you have to pay for that. For that you have to do Net Banking or you have to use Credit card which will do online payment for you. In today's environment when everything is online, the service you are using for E-Payment must be secure and you must protect your banking information like debit card or credit card information from possible threat of hacking. There were lots way to threat like Key logger, Forgery Detection, Phishing, Shoulder surfing. Therefore, we reveal our actual information of Bank and Credit Card then there will be a chance to lose data and same credit card and hackers can use banking information for malicious purpose. In this paper we discuss available E-Payment protocols, examine its advantages and delimitation's and shows that there are steel needs to design a more secure E-Payment protocol. The suggested protocol is based on using hash function and using dynamic or virtual password, which protects your banking or credit card information from possible threat of hacking when doing online transactions.