innovation of instruments and payment mechanisms

Jessy Felicia 2301880710

Various innovations in instruments and payment mechanisms have given birth to many options for us to choose the instruments and mechanisms that are considered the most useful. Some alternative payment tools that are currently starting to be widely used include eWallets (PayPal, Google Checkout, WebMoney), direct debit systems (eBillMe), money transfer system (Moneygram) and so on. Direct debit is often known as direct debit. Direct debit is an electronic payment method made directly from a bank account, usually on a predetermined date. This direct debit allows the bank to withdraw some funds from your account to make payments on various bills. Of course, the bank makes this withdrawal in accordance with the agreement that has been made with the bank, which contains the purpose of payment, payment date, and nominal. In addition, this direct debit facility can be used for various kinds of payments, such as installments of goods purchases, telephone payments, electricity, and one of them is of course the payment of credit card bills. Please note, the direct debit system can be done if the credit card issuing bank used is the same as the bank account where you store money. To arrange the payment of your credit card bill to the direct debit system, you just contact your account provider’s bank. Customer service at the bank will help you with all your needs. Direct debit system is practical and easy. Because it is systemized automatically, then we do not need to worry about forgetting to be late to pay credit card bills. With a direct debit system, the bank will automatically withdraw some funds from your account to pay off credit card bills every month. However, behind all the facilities, there must be a blemish behind it. As with the direct debit system, all convenience and practicality of payment will be useless if not fully supervised. We still have to keep an eye on the spending records we spend, by matching the amount of credit card bills with the nominal direct debit made by the bank. Wherever a system is perfect, negligence can still occur. If you see a mistake or data discrepancy that occurs immediately contact the bank so that it can be processed and resolved immediately. One example of direct debit systems is eBillMe. Ebillme is a payment option that allows consumers and small businesses to use online banking for secure payments. In 2011 eBillMe was acquired by Western Union and later renamed WU Pay. The service is available as a payment option through hundreds of online merchant sites, including Sears, Kmart, Buy.com, Tiger Direct, RedCats USA and others. This payment platform is similar to PayNearMe which is an alternative payment product of the company formerly known as Kwedit, they provide a way for people who do not have a bank account to use cash payments to buy goods online. This type of service is particularly attractive to millions of U.S. consumers who don’t have a bank account, and who don’t have a traditional bank account or can’t qualify for a credit card. Consumers who click on the eBillMe sign at the checkout for the e-tailer can pay with their online bank account. Then they will receive an email containing payment details from their online bank account. Once they enter the information into their online bank account, they receive a receipt and the product is sent. This payment process appeals to people who are concerned about the security of online card payments. A small percentage of consumers like to pay this way.

https://books.google.co.id/books?hl=en&lr=&id=1BvhQT8SHZkC&oi=fnd&pg=PA99&dq=about+ eBillme&ots=ujxxb-MQY&sig=jYAkfn7wwzjcNRHeUk4m1xY1Oc&redir_esc=y#v=onepage&q=eBillme&f=false

https://pilihkartu.com/blog/berita/pembayaran-tagihan-kartu-kredit-melalui-debitlangsung.htm

https://ir.westernunion.com/news/archived-press-releases/press-releasedetails/2012/Western-Union-to-Launch-Innovative-Payments-Platform-WU-Pay/default.aspx