E Commerce Interfaces : Net Banking Essay

E Commerce Interfaces : Net Banking Essay

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Compare different payment systems used in e-commerce interfaces

Net Banking
Net banking is a fairly modern payment method which allows the customer to purchase items and use internet banking without the use of their card. This means that the customer does not need to enter their details like card number, their name or even their security code. This is because the net banking account already would have the information already logged into it. Certain banks also have mobile applications for online banking which allows the user to log onto their account through their phone then they have the ability to use all the banking feature like paying out, viewing the balance, looking at statement and monitoring the progress of incoming payments. The advantages of using net banking is that is allows the user to purchase items without actually giving the website their information, some people might prefer this because not all customers trust giving out their information to unfamiliar websites. Mobile banking has its advantages, too, for instance, to be able to access their bank at any time and to be able to use all the functions that a high street bank could offer. The only disadvantage to mobile banking is that there isn’t any human interaction so the user could’t ask for advice of the banker, also, the user would not be able to cash in a cheque through the phone which means they would have to travel to the bank to do so. Also, there are other downsides to mobile and net banking, for instance security. Sadly, there are online thieves out there which try to steal peoples banking information and they have the ability to do this through peoples phones or computers and they can get access to your devices remotely. Banks make sure that their securi...


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...walk away with the cheques and the same transaction because when an electronic cheque is used the funds will be electronically transferred there and then, this removes the need of a paper copy. Electronic cheques aren’t that popular yet because the only people that use them are mainly big corporations that supply their customers with these electronic cheques so their customers can purchase things from them. Paper cheques take roughly five working days to clear through and into your bank, whereas, electronic cheques are virtually instantaneous. This in itself can be seen as an advantage because it allows the user to know exactly what their balance is straight after the purchase, whereas, with paper cheques they would have to wait even longer. This new electronic cheque method could also cancel out some of the fraudulent paper cheque scams that are received by traders.

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