Week10

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Week10

  1. 1. How Electronic Payment Works s1150147 s1150243
  2. 2. Contents Introduction Methods and Types of Electronic Payment Benefits of Electronic Payment Concerns About Electronic Payment How to Set Up E-Payment for Your Business Electronic Payment Association Conclusion
  3. 3. Introduction Today, payment options are more convenient. Electronic payment is very easy to pay. Because you only input the data about some information. And it is no wonder to grow the number of electronic payment user. This presentation will explain about electronic payment.
  4. 4. Methods and Types of Electronic Payment An electronic payment don't need a paper check. Credit cards, debit cards and the ACH network are one of the electronic payments. And electronic payments have the three main types of transactions: 1. Customer-to-vendor payment is commonly used when you buy something at the e-commerce site. E-check is used instead of a credit card at some e- commerce site.
  5. 5. Methods and Types of Electronic Payment 2. A recurring customer-to-vender payment of long term payment is usually used by loan companies and an insurance companies. 3. When use automatic bank-to-vendor payment, you permit to transfer your maney for bank. Almost situation, you can choose whether to do this manually for each billing cycle, or your bills automatically paid on the same day each month.
  6. 6. Benefits of Electronic Payment Electronic payment is very simple. You only need input the data of your username and password. And electronic payment is not so high-cost for businesses. Because electronic payments don't need paper and postage. Electronic payments are used by many people. That the number of users grew.
  7. 7. Conserns About Electronic Payment *Problem concerns over privacy and the posibility of identity theft. *Solution - to use virus protection software and firewall on your computer. - to make sure that you send your credit card information over a secure server.
  8. 8. How to Set Up E-Payment for Your Business *First, whether to out source your payment solution or handle it in-house. - all-in-one solution Paypal and ProPay services... it's easy for you to accept credit cards and other forms fo electronic payment form your site. *To process payment in-house - You should set up a secure server. Secure Socket Layer (SSL) technology... it is used to encrypt the data.
  9. 9. How to Set Up E-Payment for Your Business *Finally, you need a system to process credit card payments and an Internet merchant account with a bank. - Online compaines...Credit card payment processing services are available Verisign. *Others - To accept electronic checks from customers.
  10. 10. Electronic Payment Association * The National Automated Clearing House Association (NACHA)... it has helped increase the use of e-payments and e-checks. - Automated Clearing House (ACH) network...NACHA's 11,000 member banks and other financial institutions offer direct deposit, direct debit and e-checks for consumers and businesses.
  11. 11. Electronic Payment Association * NACHA's role - Keeping your electronic payments that way is to develop operating rules and business practices for the ACH network to make sure it stays efficient, reliable and secure. - To offer tools and resources to help its member institutions facilitate electronic payments.
  12. 12. Electronic Payment Association *NACHAPay It Green group - develoging tools and resources that show the environmental benefits of choosing electronic options over paper.
  13. 13. Conclusion Electronic payments have the three main types of transaction. The security is good, and electronic payment association help us about electronic payments. So, electronic payment will spread more in the our life.

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