Online payment is very important. Customers and businesses can use the credit card account to implement the payment. The overhead of a lot of people can be omitted in the Internet by using the electronic payment method. Online payment will require more reliable transmission of information security controls to prevent fraud, hacking, fraudulent and other illegal acts. Online payment will need to have the electronic finance to support, that is, the bank or credit card companies and insurance companies and other financial institutions to provide financial services to provide online services.
Fast validation of incoming payment from buyers or clients It is simple and fast to validate any payment from your purchaser once you have connection to your savings account in front of your PC monitor. You don't need to visit your bank just to update your latest transaction because you can see it immediately online. 3. Send or transfer money One benefit of this type of banking is moving funds to other accounts or to other banks in the convenience of your house or office. You may transfer your funds from one of your account to the other accounts for the similar bank.
In digital payments, both payer and payee use digital modes to send and receive money and no hard cash or any other physical mode of transfer of money is involved. It is also known are electronic payment system. It is an easy, fast and convenient way to send and receive money . There are different types of digital payment systems utilizing different modes of connectivity like payments through mobile may happened utilizing GPRS (internet) connectivity or through GSM connectivity, payment through E-Wallets or payment through usage of cards like Credit, Debit or Prepaid Cards. The approach of innovation systems, and in particular sectoral innovation system, provides understanding of the interactive and collective nature of innovation, and describes the role of various actors, information, knowledge, and interactions among agents involved in the process of innovation.
The network knows the transfer has occurred and transactions are validated; they cannot be challenged or taken back. This is big for online merchants who are often subject to credit card processors' assessments of whether or not a transaction is fraudulent, or businesses that pay the high price of credit card
Schäfer (2004) explained that online shopping is an inventive way to attract customers who have open and modern thinking with grocery shopping. In addition, it is very easy for the customers to compare prices and service offers online. Boone and Kurtz (2010) mentioned that bots, shortcut for robots, make it convenient and
This non-visual interfaces is the application system that exchange data electronically with other applications through a network. 2.2.2. The Advantages and Disadvantages of Online Application System The advantages of online application system is online application system is easy and convenience. The applicants who want to apply the application did not have to worry about filling in the error-free hard copy forms and spending more money on postage to return the application. Furthermore, the applicant did not have to worry about the receiving of the application because by applying online the applicant will know that the application has been safely receives by the admin because there is some receipt of confirmation at the end of the process (Roennevig M., n.d.).
In Dec 2013, its name changed from Focal Aims Holding Berhad to Eco World Development Group Berhad. The commercial and residential properties are mostly built by EcoWorld Berhad in Malaysia since 2011 ("Eco World Development Sdn. Bhd. | gradmalaysia.com | Malaysian graduate jobs, internships, and careers advice", 2016). It operates delevopment projects including new townships, commercial development and green business parks.
A payment system is one used for the transfer of money. The emergence of computers and information systems brought about other alternate electronic payment systems such as debit cards, credit cards, Internet banking and e-commerce payments.
According to Furst et al. (2000) some of the reason for the increase in this aspect of banking are the notion that electronic banking and payments will grow rapidly, more or less in tandem with proliferating electronic commerce; industry projections that Internet banking will cut banks’ costs, increase banks’ revenue growth, and make banking more convenient for customers; and some vexing public policy issues. Chaven (2013) adds that internet offers customers faster access, more convenient and around the clock access to banking irrespective of the customer’s location and time. Salawu et al. (2007) adds that internet offers faster delivery of information from the customer and service provider, this adding to the importance of internet banking.
Quicker access connecting trough a mobile is faster than dial up connections using wire line modems. 4. Electronic Wallet-Analysts believe that easy mobile payment is one of the main prerequisites for the success of m-commerce, when the mobile phone can functions as an electronic wallet for mobile payments, including micropayments, application developers and service providers will find it attractive to introduce new mobile communication services to the market. CONDITIONS OF M-COMMERCE IN INDIA As we know mobile devices are becoming a part of our daily routine life, People use internet for various purposes which include: email, academic and financial information search, music and video on internet, chatting, online job search, gaming, booking tickets, hotel reservation, online news, internet telephony/video chat/voice chat, and online banking e-commerce has touched every field of human life from information search to entertainment, job search