25-Electronic Fund Transfer (Sudeep Peter)

7/31/2019 25-Electronic Fund Transfer (Sudeep Peter)

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Presented by:Sudeep peter.

MBA IB 1st sem

Roll no : 25

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INTRODUCTION

COMPONENTS OF EFT

NETWORK

ADVANTAGES DISADVANTAGES

FUTURE TRENDS

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Barter system

Coins and paper money

Cheques

DD Credit & Debit cards

Internet Banking, e-commerce, etc.

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EFT or Electronic Fund Transfer refers to the

computer based systems used to perform

financial transactions electronically.

Used in ATMs, POS Terminals, InternetBanking, etc.

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1. Banking and financial payment

Large scale or whole sale payment

Small scale or retail payment

Home banking

2. Retailing payment

Credit cards

Private label credit/ Debit

3. Online electronic commerce payment (Token

Based)

Electronic cash

Electronic cheque

Smart card or debit card

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Security

Identification, authentication, authorization,

confidentiality, integrity, availability,

reliability etc

Interoperability(standardization)

Large number of client/merchant involved

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Cryptography

Trusted hardware/software

Secure communication in open network such

as internetDigital certificates

Public key infrastructure.

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WORKING DATA

STORAGE

COMP

UTER

COMPU

TER

MASS

DATASTORAG

E

COMP

UTER

Transmission

link

EFT communications link


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Sale:- Where the cardholder pays for goods or service.

Deposit:- Where a cardholder deposits funds to theirown account (typically at an ATM).

Cashback:- Where a cardholder withdraws funds fromtheir own account at the same time as making a

purchase.Inter-account transfer:- Transferring funds betweenlinked accounts belonging to the same cardholder.

Payment:- Transferring funds to a third party account

Inquiry:- A transaction without financial impact.

Refund:- Where a merchant refunds an earlier paymentmade by a cardholder.

Withdrawl:- The cardholder withdraws funds.

Administrative:- This covers a variety of non-financialtransactions including PIN change.

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Reduction of the cost of financial

transactions

Handling of physical cash or cheque is

avoidedPaper transactions are reduced which in turn

helps in the reduction of transaction time.

Transactions can be made with much ease.

This offers great convenience to both

individuals and organizations.

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Fraud.

Failure of technology.

Possible tracking of individuals.

Loss of human reasoning and in turnreasoning.

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M(MOBILE) PAYMENT E payment using wireless and mobile

devices such as cellphone. More popular in western Europe and Asia

less popular in US.

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QUERIES???

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THANK YOU.

EFT

25-Electronic Fund Transfer (Sudeep Peter)

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