(2013) internet banking have the following advantages for customers: Comfort – access to the bank 24 hours a days, 7 days a week, without depending on the bank’s schedule Low costs – in order to reduce the number of clients who go to the bank desks, there are fee reductions for the electronic payments Time saving and reduced expenses (no more transportation to and from the bank building) Safety – transactions take place in the best security conditions as customers use a user name, a password, and an encrypted channel Accessibility – online connection with the bank from any Internet connected computer; simple and ergonomic menu leading the client directly to the operation he/she wants to perform One disadvantage concerns the additional costs of subscription and Internet
eCommerce Payment Gateways A huge share of time and expense is invested by ecommerce merchants in getting their website’s design and functionality straight and due to this they often overshadow the prominent streams of their businesses like managing customer orders , online payments and etc. eCommerce gateways helps businesses achieve this by enabling them to authenticate transactions and/or transfer payments from the customer's to the merchant's bank account or vice-versa , in an easy and efficient manner. eCommerce Gateways, or online Payment Gateways, can be compared to a physical POS (Point–of–Sale) of a traditional retail stores , where credit / debit card is swiped at billing desk or payment is made in cash , in online retail
Advantages • Convenience: In mobile banking, a customer is able to access bank accounts and make payments regardless of the time and place. Financial transactions can be performed round-the-clock and even during holidays. Mobile banking does not require calling a bank or physically visiting it. It also eliminates the inconvenience of carrying multiple payment cards or a laptop for internet banking. • Time saving: It eliminates the time lost in physically going to the bank.
Introduction E-Banking is an electronic banking. Electronic banking is used through computer and associated network of systems. Electronic banking also refers to the banking done through the computer based devices. In electronic banking, the bankers utilize information technology (IT) machines to present improved and proficient services to their customers. The conventional banking is paper based banking; whereas, the e-banking is paper free banking.
As a result, ensure everything has surged and UPS protection. After power surges, the next most usual breakdown is lockup from feature-overloaded equipment. Bearing in mind this, keep your configuration simple on your routers and firewalls or get ready to update to equipment with the fastest and latest processing power. The Problem Facing About Online Banking 1. Limits Teller Transactions Consumers now have the ability to perform transactions online that was traditionally reserved for tellers inside a bank branch.
Secondly, software wallet can be installed and run in your computer. It’s more secure because user has more power to control it and does not fully depend to 3rd party service. BitcoinQT is the original Satoshi’s wallet and Armory is most suggested since it has full developed features. Multibit is an easy going wallet because it does no need a full download of the block chain. Coinjar and coinpunk can also be available in the Android and iphone as both of them are mobile phone wallet.
After that, the host processor will checks all the user details with authorized bank. If the details are matched, the host processor will accepted and send the confirmation code to ATM then the transaction will successful. There are two type of type of ATM which is leased-line or dial-up machine. Leased-Line: “The leased line machines connect direct to the host processor through a four wire point to point dedicated telephone line. These types of machines are preferred in place.
E-banking is the use of electronic methods to deliver traditional banking services such as taking deposits, making loans and clearing payments using any kind of E-channels. It is about using the infrastructure of the digital age to create opportunities- both local and global. It enables the dramatic lowering of the transaction costs and the creation of new types of banking opportunities that address the barriers of time and distance. Banking opportunities are local, global and immediate in e-banking. The current web based variant of banking is the latest of several generations of systems: ATM was the first well known machines to provide electronic access to customers of retail banks.
The one of the function for Maybank online banking system is cardless withdrawal (Malayan Banking Berhad, 2001). The first of its type in Malaysia, this new service by Maybank will allow the Maybank 's customers to perform easy and simple person-to-person fund transfer payments. The introduce of this service will revolutionise the way people send and receive cash as you are only required to have a mobile phone to receive funds even if you are not a Maybank customer. Cardless cash is a complementary service component for the iNNOVA 's state-of-the-art product i-Mobile Bank. This component adds cardless cash withdrawal features to an existing banking system.