The Electronic Toll Collection in Malaysia, Questions and Answers

The future of payments is current shifting to another path with how technology is changing and is currently modifying how we process our payments and how we store data. It is going away from low-tech and paper based tools, expensive and bulky registers, and physical card swipes. And it is introducing and renovating online commerce and online payment. This is happening due to the decrease of money supply and checks in the current market because people are starting to pay more and more there bills online. As the economy improces and corporations and business gets larger they have started a large-scale implementation of processors in electronic payment technology in their business ands services. Also, credit and debit are growing amongst consumers and it has been the highest that it has even been in history.

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.

A completely cashless society sounds clean and convenient, and although we've made huge strides, we're not quite there yet. Despite the magic of PayPal, Square and credit cards, most of us need to carry around a handful of greenbacks. While we can choose from a rich array of singles, fins, sawbucks and Benjamins (and one day maybe Tubmans), there are several other denominations that the U.S. Treasury has discontinued.

You can get a electronic deposit and save yourself time from being wasted. Let’s not start with ApplePay and things of those nature; being able to pay for goods with your phone if its connect to your bank account and the cashier at the registration has the system that allows you to pay your transaction as so. It's easy, it's very flexible and that’s why I don’t think America will become a checkless society. People like the ability to be flexible, not everyone likes to use there phone to pay for goods, or use cash. They might prefer to write a check or use cash to pay for something or to be paid in cash. The original definition is that ‘all’ financial transactions will be done electronically. I don’t believe so keep documents of checks and receipts is very vital. Not to mention that there’s no feeling like the feeling of a cash in your

Transaction have become more efficient. Electronic payment systems help increase the time of payment and also decrease the crime of theft. For example many people pay through apple pay, through applepay there is no paper money involved just credit cards. Although electronically payments have a negative factors for those who are able to hack into the system and receive credit card data , and be able to take your information and use it for their own needs without you knowing. You are still able to cancel the use of your credit cards and receive your money

The BBPS services will be provided 24X7, so the participants must maintain their connectivity accordingly. The billers will be provided with an online and offline mode of connection. The transactions will be sent across through authorised network connecting all the participants of the system with the BBPCU. Proper care will be taken for protecting the customers' data, and strict security measures will be set for the same. The settlement of ON-US and OFF-US transactions will be monitored appropriated as per the Settlement Guarantee Fund mechanism. The transaction and settlement reports should be retrieved on a daily basis from BBPCU for ensuring accounts are

Society wants to promote a cashless society, oblivious to the obvious detriments to society. One of the possible risks

Risks of Cash Payments: Payment of the entry admission fee in form of cash to the clerks is exposes the organization to embezzlement risks. Since, there are no other controls associated with the collection of cash.

In today’s economy, cash or a credit card is needed to meet the basic human needs. It is an apparent fact that we need cash or credit cards to purchase items such as food, clothing, and to buy gas. Also, when you are out shopping and discover that you have used all the cash in your possession, it is then that you realize that the advantage of having a credit card. Furthermore, with cash, you are restricted to the amount in your wallet or purse; however, a credit card allows you to pay for your purchase at a later date. Both cash and credit cards can be useful when you manage them wisely. While cash and credit cards are similar in that they both are readily accessible, used for goods and services at the time of purchase, they are dissimilar because of theft, high- interest rates, identity theft.

Throughout history there has been much speculation about a cashless society. With a cashless society in the near future there are many benefits, as well, as many negative implications. Society without cash will lose the benefits of the most liquid asset in the world. Without cash there would be no instant payments for goods and services. It is important that, if society moves toward a cash free economy, the benefits must out weigh the negative aspects in the end. There are major social and economic benefits to a cashless society such as reduction in cash related crimes and monetary benefits. There are major negative implications with a cashless society such as privacy issues and losing the liberty of cash. A cashless society could only be

Picture this, you are purchasing your favorite drink and as you reach for your wallet, the only option you have for paying is electronically. That could become the case if we become a cashless society. You will see what a cashless society is and what it all entails. With disturbing someone’s privacy to the results of hijacking electronic accounts, cashless societies can have some advantages and disadvantages. As a list of countries that have already made the surface of topic when it comes to cashless societies, you will see how much of a difference cash is being used today as in years before. Cashless societies are creeping up upon people without them realizing it, but becoming aware of it could help people as they enter into the future.

During the past decade, we have undergone enormous changes in the way that we conduct business. ATM check cards, credit cards, and preferred customer cards are the most common buying tools today. Check, or debit, cards are ATM cards that function just like cash. Customers can now make payments with their check cards

The move to use electronic cash in an ironically termed society dubbed “cashless”; there are many issues that include

E-ZPass is an electronic tolling system that works in 16 states with 38 different toll agencies.1 E-ZPass is a very successful electronic tolling system that has more than 30 million transponders in circulation. E-ZPass is operated by an Interagency Group which means every member agency works together and is bounded by an operating agreement.2 The mission of E-ZPass is “to enable E-ZPass members and affiliated toll operators to provide the public with a seamless, accurate, interoperable electronic method of paying tolls and fees while preserving and enhancing the E-ZPass program” (E-ZPass Group) 3

Online payment processing services perform transactions at a much greater speed than manual processing. As well as ensuring error-free computations and faster processing time. Which means