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, Internet Banking, etc.

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EFT is Fast, Safe, and means that your money will be confirmed in your bank account quicker than if you have to wait for the mail, deposit your check, and wait for the funds to become available. Examples of EFT transactions are credit cards, debit cards 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 internet Digital certificates Public key infrastructure.

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WORKING DATA STORAGE

Transmission link

COMPU TER

MASS DATA STORAG E

EFT communications link

COMP UTER COMP UTER

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Sale:- Where the cardholder pays for goods or service. Deposit:- Where a cardholder deposits funds to their own account (typically at an ATM). Cashback:- Where a cardholder withdraws funds from their own account at the same time as making a purchase. Inter-account transfer:- Transferring funds between linked 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 payment made by a cardholder. Withdrawl:- The cardholder withdraws funds. Administrative:- This covers a variety of non-financial transactions including PIN change.
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Reduction of the cost of financial transactions Handling of physical cash or cheque is avoided Paper 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 turn reasoning.

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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.

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