It means that by using online banking system customers can operate his account at any branch of his bank having online system. Electronic Fund Transfer System (EFTS): The electronic funds transfer system is a trade payment system. Under this extension of the banking system, the account of the customer is automatically debited and the account of supplier is automatically credited at the time of transaction. The bank issues a debit card or credit card to the clients for making payments of merchandise purchased or for payment of utility bills through electronic fund transfer system. Payment through this banking system can also be paid for the buy of petrol or CNG from petrol pumps.
28, GPO, New Delhi – 110001. • SBI Auto-Debit: This is a service which deducts the due amount automatically from your bank account. The associate banks which also provide the service are State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore. This service is somehow similar to the NACH. To avail the service, you have to download the form from Forms Central and send a duly filled form along with your payment options such as Total amount Due (TAD), and Minimum Amount Due (MAD) to SBI Card Payment Services Pvt.
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
B. Internet Banking This is a type of e-banking service where customers’ instructions are taken and attended to through the internet (Chibueze, Maxwell, and Osondu, 2013). Internet banking sometimes called online banking or virtual banking is an outgrowth of PC banking. Internet banking uses the Internet as the delivery channel to conduct banking activity, for example, transferring funds, paying bills, viewing checking and savings account balances, paying mortgages, and purchasing financial instruments and certificates of deposit. An Internet banking customer can accesses his or her accounts from a browser resident on the bank’s World Wide Web server (FinCEN, 2000). Internet banking offers customers the possibility of enjoying banking services from the comfort of their homes and offices.
Citibank and HDFC Bank followed with internet banking services in 1999. Several initiatives have been taken by the Government of India as well as the Reserve Bank to facilitate the development of e-banking in India. The Government of India enacted the IT Act, 2000 which provided legal recognition to electronic transactions and other means of electronic commerce. The Reserve Bank is monitoring and reviewing the legal and other requirements of e-banking on a continuous basis to ensure that e-banking would develop on sound lines and e-banking related challenges would not pose a threat to financial stability. A high level Committee under chairmanship of Dr. K.C.
Customers need not necessarily visit the branch to do banking transactions, when the banks provide them with Tele – banking or remote – banking facility. This type of banking is called electronic banking and the concept is becoming popular with individuals as well as corporate entities in India. 1. INTERNET BANKING : E - banking refers to electronic banking. It is like e - business in banking industry.
g. What is the relationship between independent variables (types of payment, experience in online purchase, Word-of-mouth, and website quality) and individuals’ trust in online purchase through online shopping? 1.7 Hypothesis of the study H1: Familiarity has positive influence to the consumer’s trust in the online
Currently, banks are mostly using electronic channels to receive instructions and deliver their products and services to their customers. Although the ranges of services provided by banks over the electronic channel vary widely in content, this form of banking is generally referred to as electronic banking (Azouzi, 2009). The definition of electronic banking varies among researchers, because electronic banking refers to several types of services through which bank customers can request information and carry out most retail banking services via computer, television or mobile phone (Daniel, 1999). The definition of electronic banking used in this study is adopted from Ayrga (2011) which defined as the automated delivery of new and traditional banking products and services directly to customers through electronic, interactive communication channels such as ATM, mobile banking, internet banking, and point of sale terminals, electronic fund transfer and SMS. Such products and services can include deposit taking, lending, account management, the provision of financial device, electronic bill payment, and the provision for other products and services such as electronic money.
Bank Deposits Bank deposits consist of money placed into banking institutions for protection. These deposits are made to deposit accounts such as savings accounts, checking accounts and money market accounts. The account holder has the right to withdraw deposited moneys, as set forth in the terms and conditions governing the account agreement. (staff i. , 2017) • Saving Deposits Saving deposits means mainly for business people and middle class people to help them to deposits their small savings. Generally it can be opened without any introduction.
Various empirical and theoretical studies have been undertaken at the national and international level to analyze significance of internet banking. But the present studies entirely focuses upon the customer awareness level and satisfaction level pertaining to internet banking A question is