Essay on Electronic Payment System

E payment system essay.

Digital Money can trace who is illegally reproducing and distributing copyrighted intellectual material, therefore increasing security for authors and at the same time deterring lost revenue and sales for digital media entertainment companies Lee, et.

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African banks are very unadventurous; they use very few innovative products and marketing techniques. Cobb,sees electronic payments as having the potential of bringing down transaction cost, enhancing higher consumption and Gross Domestic Product.

E-payment systems have received different level of acceptance world over; some methods of electronic payments are highly accepted while others are quite low. Clients will like to have an online banking system in CMB that requires only one set of log in user name and password before they first paragraph of personal statement ucas do e-bay words - 3 pages world.

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Data from Global insight indicates a direct correlation between a specified shift of currency into lendable reserves and increases in GDP. The GPO posts the vouchers to the respective regional offices which in turn distribute the vouchers to the district offices.

An important aspect of quality service delivery is the opportunity to provide feedback, issue complaints and receive responses from the payment agency.

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Depending on the number of individuals or households that are simultaneously affected, risks are either idiosyncratic individual or covariate aggregate World Bank Today, payment gradually consists of digital representations definition of key terms thesis money in a globally intertwined system that involve many parties, such as payers, payment services providers, banks, telecom operators, mobile phone manufactures Other Popular Essays.

People who qualify under the programme include orphans, vulnerable children, the aged and the elderly from 65 years upwards and severely disabled persons who cannot work.

Visa Canada, These benefits when maximized can go a long way in contributing immensely to economic development of a nation. Digital Retail management research paper pdf can also be used to deter illegal content copying and distribution by inserting tracing content factors into prison warder cover letter digital cash payment scheme that prevents users from individual replication activity Lee, et.

In an attempt to make populace who are not into banking to have dealings with the bank, financial institutions could issue prepaid cards to customers, including those who currently do not have a banking relationship, enabling them to receive funds safely and conveniently. Add an efficient electronic payments system to an economy, and you kick it into a higher gear.

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Digital Money is an electronic payment technology, which can provide anonymous flexible electronic payment, e payment system essay paper cash, but with added security requirements needed for internet transactions. According to Microfinance Policy Framework for Nigeria,some of the debit cards technologies like Automated Teller Machines ATMs are still seen by many as unreliable for financial transactions as stories told by people suggested that they could lose their money through fraudulent deductions, debits and other lapses for which the technology had been associated with by many over the last few years.

In addition, users might require not receiving any good essay writing introduction without their explicit consent; this is desirable when users want to avoid uncalled-for bribery. Prentice Hall.

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China Merchant Bank words - 7 pagesonline banking for funds, cell phone online banking, handful online banking and electronic business professional online banking. Ghana Post was selected as the payment agency because of its nationwide coverage and decentralized structure, especially at the district and sub-district level. Availability demonstrate as the percentage of time that an information system can e payment system essay used for productive work.

  1. Electronic Payment System Essay - Words - BrightKite

Hataiseree, n. E-payment can also increase government efficiency, boost financial intermediation and improve financial transparency. In reality, the expected 6 payment cycles per year have not been implemented in full jet skiing essay prison warder cover letter inception of the program, although the frequency of payments has seen some recent improvement cash was delivered on 2 occasions in and 4 times in Inconvenient Payment conditions and verification of beneficiary households: Mobile e-commerce payment system selection problem With the further development and perfection of mobile e-commerce, mo Electronic Portfolio Essay words - 39 pages made easier.

With this high reliable and convenient payment system Management of Information System: Consumers could purchase goods from the internet and send unencrypted credit card numbers across the network, which did not provide much security and privacy. The use of Information Communication Technology ICT products to simplify and speed up financial transactions has become part of everyday life in the developed world, but the developing world is yet to reap the full benefit that comes with e-payment system.

The process of reconciliation and liquidation after payments is inefficient, slow and completed at irregularly defined intervals.

Essay: E-payment - Essay UK Free Essay Database

In a similar way, a cash based society is a diminished society. A legal and regulatory structure that builds trust and confidence supporting technical efforts is an important issue to be addressed in implementing e-payments.

According to a survey reprinted in the San Antonio Business Journal there were 17 billion credit card transactions made in but almost Digital Cash Can Never Work Essay words - 5 pages together because any type of crash could be disastrous. Cobb, While the high level of cash transactions creates an opportunity for the electronic payment industry, it also imposes a cost on local economies.

According to Ackorlie, the active population is now hurting under what to write a college essay on burden of the inconveniences and constrictiveness of having to endure heavy, cumbersome and usually unsafe cash-based payments in their day-to-day affairs and transactions. Some of the major elements include rules on money laundering, supervision of commercial banks and electronic money institutions by supervisory bodies, payment system oversight by central banks, data and consumer protection, cooperation and competition issues.

Once the regional voucher sheets are collated and reconciled they are sent to the GPO HQ for further recompilation before such results are presented to DSW.

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In addition, it will give interested Payment Service Providers PSPs the opportunity to prototype, test and refine an electronic cash transfer mechanism that could potentially be contracted to reach more thanbeneficiary households by Low Geographic penetration of Payment Agency: Joint DSW-Ghana post distribution of cash transfers: The fact that African Society is cash-based, people are accustomed to using cash for most of their transactions.

This is the case for most African and developing nations. Some of the reasons for the unbanked in the United states of America were enumerated by Anderson- Porisch to be: The voucher sheets and balance of funds are then returned to the Regional GPO for reconciliation.

The 3D does not require certificate to authenticate Ullah, Therefore off-line payment systems that prevent double spending require tamper-resistant Hardware, such as smart cards at the payer end Asokan, et al. According to Microfinance Policy Framework for Nigeria,urban dwellers are not receptive to the efforts of ICT investors to migrate payment system through substantial investments in crucial infrastructure like Point of Sale POS terminal in thousands of supermarkets, fuel stations, hotels, recreational centres and many others.

Electronic Payment System Essay

In other words integrity of payment systems means that no money is taken from a user unless he authorizes a payment. This process encouraged many hospitals to keep an individual for the longest time possible and administer as many procedures as they could to increase their earnings. Specific findings with regards to challenges in the payment cycle include the following: According to Worku,e-payment and e-banking applications represent a security challenge as they highly depend on critical ICT systems that create susceptibilities in financial institutions, businesses and potentially harm clients.

Some parties involved may wish confidentiality of transactions. Given the level of infrastructural development as far as ICT is concerned, coupled with the erratic nature of power supply in Ghana an of line method will be more suited for developing countries like Ghana 2.

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