Online banking transfer in E-Payment

19 Dec 2021

Name: Santi, 230190784

Online banking transfer in E-Payment

Cash E-payment system known as EFT (Electronic Funds Transfer) is a system of transferring from one bank to another in cash without physical cash. This means that transactions carried out in the form of digital data are recorded between the parties concerned.

Meanwhile, EFT also has many concepts  including:

  • Direct debit
  • E-check
  • Electronic Billing
  • Electronic Cash (E-cash), and
  • Stored Value Card

E-cash is an image of an electronic symbol that has values (bits and bytes) often used in transactions of goods and services. E-cash is published by legal institutions, companies and organizations. E-cash usually has limited acceptance (depending on how big the publisher market). Below are some of the companies that issue e-cash:

  1. Digicash: discovered by a team of software industry veterans and members of the elite technology units of the Israeli Army.
  2. Mondex: founded in 1990, Westminster Bank in the United Kingdom – today it is  separate  from
  3. PayPal: part of an eBay company, integrated with e-bay.

Through internet banking, people can conduct banking transactions (financial and non-financial) through computers connected to the bank’s internet network. Various kinds of transactions in internet banking include:

  1. Transfer of funds
  2. Balance information, account mutations, exchange rate information
  3. Payment of bills (e.g., credit cards, phones, mobile phones, and electricity)
  4. Purchases (e.g. rechargeable credits, airline tickets, and shares)
  1. Reference

Reza,  Yuki. 2019.  Analysis of E-Payment System Success Factors. Journal of  Management Science  Research.  Vol. 3, No. 1, Hal. 31-48.  https://www.google.com/url?sa=t&rct=j&q=&esrc= s&source=web&cd=&ved=2ahUKEwjk3bSd1rbvAhUO7XMBHQEkD1sQFjAEegQIDhAD&url=https%3A%2F%2Fejurnal.id%2Findex.php%2Fjsm%2Farticle%2Fdownload%2F234%2F106%2F&usg=AOvVaw0XuYeqEbBO1AUbdu-LOTiS. (accessed  March 16,    2021)

Margaretha,  Farah. 2015.  IMPACT OF ELECTRONIC BANKING ON INDONESIA’S BANKING PERFORMANCE. Journal of  Finance and  Banking. Vol.19, No.3.  https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjr5vblr7fvAhVQAXIKHV3PC1YQFjAEegQIDxAD&url=https%3A%2F%2Fmedia.neliti.com%2Fmedia%2Fpublications%2F178702-ID-dampak-electronic-banking-terhadap-kiner.pdf&usg=AOvVaw3xPteojT_sa1KY2j1AjIti. (accessed  March 16,    2021)

Trihasta,Deni. Fajaryanti,  Julia. 2008.  “E-payment” SYSTEM. https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwiPkcfPtLfvAhWNA3IKHYszDk8QFjABegQIAhAD&url=http%3A%2F%2Frepository.gunadarma.ac.id%2F91%2F1%2F94.pdf&usg=AOvVaw1Ze7guM3A2bHaPajN_JCiC. (accessed March 17,    2021)

 

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