Advantages And Disadvantages Of E-Purse

As technology advances over the years, we have experienced and noticed that the trend in how payment are received have shift tremendously. Twenty years ago, check was the preferred way of payment. In today’s world, more and more payments are done by credit cards. Credit card transactions are instance that provides a faster payment method.

The technology has been developing very fast in this modern world leading us to have very sophisticated life .With new inventions and new technology ,people are performing their work or duties so easily sitting at home. In olden days we have to always carry minimum cash with us ,where ever we go and we are afraid in case of carrying a large amount of cash with us because of security. After Getting the credit card facility ,it has become so easy for us to make use of money without running to get money from ATM or from banks for every situation by saving a lot of time and also having we have the track of amount we are using .These are all on one face, on the other side

The adoption of Electronic Point of Sale (EPoS), Electronic Funds Transfer Systems (EFTPoS) and electronic scanners have greatly improved the efficiency of distribution and stocking activities, with needs being communicated almost in real time to the supplier.

Features: E.F.T.A.P.S helps people pay for good by transferring money from there bank cards to the businesses instead of using cash. E.F.T.A.P.S makes sure that the customer’s credit or debit card is read by a card reader when it’s being swiped when the customer is purchasing a product. E.F.T.A.P.S allows customers to receive request which are sent by the bank requesting them authorisation of the payment. Therefore if approval is given by the customer to the business, money from the customer’s account are transferred into the businesses account. E.F.T.A.P.S allows people not have to withdraw any money out of the bank

With this, the paper is going to look into the use of credit cards. The credit card usage has grown fast with many people opting to get one instead the use of cash system. This system which has seen the banks issuing more credit and debit cards and also influencing the growth of banks because ATM machines have to be installed to also help customers withdraw their cash (Mark, 2102). The paper will be analysing why people have chosen to use credit cards, the reasons why they should revert to using cash systems instead of credit cards.

Every day, everywhere, MasterCard Worldwide uses technology and expertise to make payments safe, simple and smart.

Many financial institutions across the world have adapted to the change towards the cashless society by implementing electronic funds transfer via automated teller machines (ATM’s) and of late, the internet. By having a simple plastic card, society could completely eliminate the need for cash. The benefits range from the end user through to the government and the

With the advance technology, banking has become a 24 hours a day and seven days a week ability. Not too long ago banks were only open from 9:00am to 3:00pm, workers and businesses rushing to get to the bank before they close. Paychecks were handed out personally not direct deposit, cashing or depositing a paycheck entailed a trip to the bank. Now most companies have direct deposit and the printed paycheck is becoming a thing of the past, this is only one example of how technology in banking has changed in society. The electronic banking (e-banking) can be described as the automated method of new and traditional banking services which reduce cost, and simplify front and backend process satisfying customers.

Therefore the installation, maintenance and customization of the e-commerce services should be based on various shopping carts which includes; Drag and drop designs, password protected web pages and individual pages for new products and the bestselling products, to name a few. These shopping carts offer various features that enable online product management services which should be crucial to the organization. In addition, they offer internet payment options such as, merchant accounts that should be helpful to the organization (secure trading, 2014). Also, they can support processing of credit cards in real-time. They can support payment by checks or cash on delivery. In addition, checks by email and manual getaways where; orders and information of payment are collected and processed offline.

In today’s evolutionary world, where technology keeps on revolutionizing our everyday tasks, electronic bill presentment and payment offer a whole new billing process by offering online and real time presentment of bills and payment choices. It offers great advantages and significantly improves customer care and customer relationship management. We will cover the information found in an electronic bill, followed by the process of a bill presentment. We will briefly compare traditional paper-based bills and electronic bills. And then, we will expose the different parties involved in an electronic bill presentment and payment, followed by the different evolution phases. The advantages and the risks associated with the

This mobile application securely stores credit cards, offers, gift cards and more on their mobile phone. This virtual wallet is changing the face of commerce by enabling customers to simply make “tap and go” payments with their mobile devices, while increasing loyalty at merchant locations. Although m-commerce market in India is still in its initial phase, India is getting richer and phones are getting cheaper. It is also estimated that, by 2020, 80% of the mobile devices used in the country will be smartphones. Many e-tailers have realized the potential of mobile commerce in multiplying their sales and are rapidly adopting the necessary tools, withencouraging re sults. Snapdeal.com, for example, gets over half of its sales from customers using mobile devices, while even one year ago the share of mobile purchases was a mere 5%.Flipkart, the largest online shopping platform in India, receives 20% of its e- commerce orders from customers using mobile devices and plans to increase this number to as much as 50% in future.India has more than 100 million users in India,of which nearly 84 million access the site through mobile phones. This suggests the rise of the “mobile first” generation of internet

Consumers have started believing in e-commerce because they can shop things without having to compromise on their comfort zone. They can order their favorite candy or their favorite shirt online, without going outside in the comfort of their bedroom. This can be very useful when it comes to comparing things and various brands. E-commerce has been a total revelation for both the businesses and consumers. It is because of this e-commerce that many companies have started their business, and they can offer their services. The

Merchant-based vu1nerabi1ities may appear a1most anywhere in the card-processing ecosystem inc1uding point-of-sa1e devices; mobi1e devices, persona1 computers or servers; wire1ess hotspots; web shopping app1ications; paper-based storage systems; the transmission of cardho1der data to service providers, and in remote access connections. Vu1nerabi1ities may a1so extend to systems operated by service providers and acquirers, which are the financia1 institutions that initiate and maintain the re1ationships with merchants that accept payment

The payment systems and protocols have been developed with the development of the electronic commerce. The current system of payment is consisting of the merchant, customer, and the payment gateways, the procedure is that the merchant receives the information of the customer’s payment and forward this information to a payment gateway in order to process the payment. This procedure holds several risks to the customer’s information because of the ability of the merchant to save the information related to the customer and may misuse this information later. The other possibility is that the information is compromised and the merchant is unaware when the information of the customer payment is forwarded to a payment gateway.

In January 2015, Wirecard, a German payments technology provider, launched a wearable wristband which allows users to make a payment using Host Card Emulation (HCE) at any contactless POS terminal. Users are required to simply swipe the wristband near the POS terminal to make payments, and the details of the transaction is displayed on a real-time basis on the screen of the wristband and in the smartphone app.