The Impact Of Internet On Its Day Today Happenings

2313 Words May 18th, 2016 10 Pages

In this 21st century the Internet has made revolutionary impact on all aspects of human life. Out of all, banking operations have greater impact of ICT on its day-today happenings. An e-cash payment system is one of the evidence of impact of internet and information Communication technology jargons. In this process a consumer/client opens an account with the banking organization or other which could give and receive money in the digital coins form. In the case client 's account is deposited in the form of real money, as it is attached to the client 's checking account in reality.


An E-cash or Electronic cash is a kind of system which permits a consumer (person) to make payment for objects/goods or services by a way of transmitting a number from one computer (PC) to another (PC).as in similar the serial numbers on real currency notes, these digital cash numbers are unique one. Each number is issued by a bank and represents a specific amount (sum) of money. Un-like the real cash it is anonymous and reusable for an example when digital cash is sent from a consumer to a seller, there is no way to get information about the buyer. This way of payment like Digital cash transactions have now become more common. In to-days scenario most of digital cash systems start there functioning with an involving bank, which issues cash numbers or other unique identifiers which carries a specified value, for eg. €5 Thus to get such a certificate, the person must have…
Open Document