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...
... middle of paper ...
...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.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Abstract E-Banking is a recent phenomena emerged after Internet Evolution .Internet has changed our lives in a numerous ways it has brought our world closer and made us close to the things which to due to geographical boundaries were far from us. Apart from making flow of information and communication easier for us Internet helped in significant evolution in the sectors like Commerce and Banking. E-Banking is the backbone of the E-Commerce industry worldwide. Due to payment by E-banking we are able to trade cashless with online retailers.... [tags: Bank, Online banking, Credit union, Money]
1059 words (3 pages)
- 3.2 Overview of Electronic Commerce in China 3.2.1 Internet in China In September 1987, the Chinese Academic Network built the first domestic Internet e-mail node and sent out the first e-mail from China. The universities were the first Chinese institutions to connect to the Internet. In 1990, a number of Chinese universities and educational institute including the Ministry of Education were connected. But substantial growth of Internet was not occurred until year 1994, when the National Computing and Networking Facility of China project opened a 64K international dedicated line to the Internet, which achieved a full-functional connection.... [tags: Commerce]
1621 words (4.6 pages)
- ... Mobile banking is a commercial electronic service provider of banks or financial sectors that can access financial transactions by using mobile phones and tablets. Such mobile application for users can access their financial transaction within 24 hours. On the other hand, mobile banking also can call m-banking, SMS banking, etc., which are used for payment account transaction, balance checking, payment, electronic bill payments, checking bank information (ATM locations, sub-branches bank location, and bank service information) and so on.... [tags: Bank, Online banking, Mobile phone]
800 words (2.3 pages)
- Commercial banking is a monetary institution that offers various services. These services include auto loans, basic investments, certificates of deposit, business loans and savings accounts. Functions of commercial banking varies but are divided into two categories being primary and secondary. Primary functions include accepting deposits, granting loans and granting advances. Secondary functions include overdraft facility, discounting bills of exchange, and agency functions. The commercial bank plays a very crucial role in the economy being the money dealer.... [tags: Money, Bank, Fractional-reserve banking, Banking]
944 words (2.7 pages)
- ... Lending may also occur via a third country using an international finance centre such as London. As shown in Graph 1, throughout the 1990’s, international claims on assets represented approximately 20% of global GDP. After experiencing a rapid expansion in the years prior to the 2008 crisis, international claims today represent approximately 45% of global GDP. BIS notes that this expansion is not correlated with global cross-border trade increases, therefore suggesting that banks have sought and discovered profitable opportunities outside the realms of economic expansion otherwise driven by the general trend of globalisation.... [tags: Bank, Finance, Banking, Retail banking]
742 words (2.1 pages)
- Internet Banking In the days of virtualisation where working mothers and travelling sales-team prefer to use flexi-time and remote jobs profile; Internet is being adopted as a parallel medium of communication, transaction, and social networking. Internet banking is fast gaining momentum across the globe for its convenience and ease of conducting transactions at a speed and service levels never dreamt of, a decade ago. In-spite of its multiple advantages, there is a need to step back and re-think on perceptions it carries with the masses.... [tags: Internet Global Finance Banking]
1396 words (4 pages)
- Until recently, our relationship with technology has been limited to physical and direct command. To get a device to take action, you must touch it, or speak to it. All of this could change with this new technology called, brain-computer interfaces. This amazing technology will not only revamp military applications, but most importantly help the medical community substantially. It brings the possibility of sound to the deaf, sight to the blind and movement to the physically challenged.... [tags: Brain-Computer Interface]
1228 words (3.5 pages)
- Mobil Commerce "The greatest wealth in the 21st century will not be made from products or services, but rather by the company that creates the conduit for international m-commerce through the mobile device" (Unknown author) As defined by market analysts, mobile commerce is the natural extension of e-commerce that allows consumers to make business via a wireless mode anytime, anywhere and always –on. It uses digital cellular phones, PDAs, pagers, notebooks and even cars can already be online wirelessly, all this developing another channel of the value-added chain.... [tags: Business Mobil Commerce Essays]
4444 words (12.7 pages)
- E-commerce is defined as commerce that is transacted electronically, as over the internet. Most people think of E-commerce as buying things on the web. In reality, it is much more than that. It does include purchases from such places as Amazon or Borders for you books, to an array of sporting goods stores for your outdoor activities. It also includes services, such as banking. There is business to consumer (B2C) transactions that most of us use today. Another form is consumer to consumer (C2C), which included the popular auction sites.... [tags: Ecommerce Electronic Commerce]
1205 words (3.4 pages)
- Unless you’ve been living under a rock for the last two years, you have heard about e-commerce, and I bet you’ve heard about it from several different angles. I’m sure you’ve heard about all the companies that offer e-commerce because you’ve been bombarded by their TV and radio ads. You’ve read all of the news stories about the shift to e-commerce and the hype that has developed around e-commerce companies. You may have even purchased something off the web, so you have direct personal experience with e-commerce.... [tags: E-Commerce Essays]
994 words (2.8 pages)