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The Influences of Online Banking on Economics

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Innovation is something new and it can be product as well as service. Innovation defined something new and original. Moreover, it has huge impact to the society and individuals as well as new innovation will have value which people will pay. Online Banking is also one of the innovations especially in economics field. Online banking had and having huge impact on society and individuals. It also affects to economy as well as small and large businesses because online banking changed the way people make payments from one decade ago. Online banking is even faster than bank machines and it made payments easier. There are many reasons why people were influenced by online banking. Firstly, online banking is available during the 24 hour and seven days which people can access their accounts any time easily by their smart phones or on PCs and despite corner banks online sites always open. Individuals can benefit more from online banking than virtual banks because people can make payments and purchases from internet and it is also saves cost of papers to banks. Furthermore, individuals can any kind of product in spite of its price and amount such as vegetables from market or Television from technology store. Another reason why online banking convenient is due to people who have family or friends in another country can send money to their relatives without any difficulties from every point of world to the another point and by getting date of exchange rate. Secondly, people
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