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a review on ecash and payment along with latest development in Pakistan on ecash and its services.

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  • eCash

    1. 1. eCash Junaid Zamir (SP10-mm-0040)
    2. 2. eCash - eBanking Agenda • Overview • Credit / Debit cards • Eletronic Funds Tranfer (ETF) • Eletronic Cheques • Cash cards • E-Banking • ePayment Platforms Pakistan • Main Factors / Concerns
    3. 3. eCash - eBanking What is e-cash • Use of electronic means to convert current cash transactions.
    4. 4. eCash - eBanking ePaymentePayment InstrumentsInstruments • Defined as the medium in which the value is recognised in a payment transaction • Card-based such as – Credit and charge cards • buy now, pay later – Debit cards • buy now, pay now – Cash cards, stored-valued, e-cash • buy now, prepaid or pay before 4
    5. 5. eCash - eBanking Credit Cards • Buy now, pay later • Credit card provides a card holder credit to make purchase up to amount fixed by a card issuer. • In B2C business, it continues to be the most used form of payment system given its high convenience.
    6. 6. eCash - eBanking Credit card • Entities that involve in the credit card payment system include - Card holder - Merchant (seller) - Card Issuer (Your bank) - Acquirer (merchant’s financial institution - Card Association (Visa, Master Card etc) - Third party processor
    7. 7. eCash - eBanking Debit CardsDebit Cards • Direct electronic transfer of account - direct account debiting • Uses chip/smart eWallets • Digital signature to secure access • Connected to eBanking solution 7
    8. 8. eCash - eBanking Electronic Fund Transfer (EFT) • EFT refers to the paperless act of transmitting money through a computer network • It is mostly used for Business to business (B2B) commerce where companies doing business together tend to use electronic data interchange (EDI) system to send each other bills and notices of payment • The payments are made using electronic fund transfer between banks
    9. 9. eCash - eBanking Electronic Check (E-Check, Digital Check) • A new electronic version of paper check. E-check is an instruction to a financial institution to pay a given amount of money to the payee. • It is a specially formatted email message sent over the Internet. It contains as the same information as on paper based check. • Digital certificate and signature are used to secure the cheque so that the contents are not tampered with
    10. 10. eCash - eBanking Cash CardCash Card • Payment solution on a proprietary protocol that allows payment over the Internet • A digital/virtual wallet with prepaid credit- based/token-based payment system • Enables low-value electronic payments on the Internet 10
    11. 11. eCash - eBanking ePayment Platforms Pakistan • Mobilink Genie • UBL Omni • Utility Bill Payments • Easy paisa
    12. 12. eCash - eBanking
    13. 13. eCash - eBanking Introduction • Genie is a mobile lifestyle solution, a true value added service offered by Mobilink in collaboration with Inov8. It transforms every mobile phone into a fast, convenient and secure channel for • Buying products, • Paying for services and • Transferring money through a few clicks of the mobile handset.
    14. 14. eCash - eBanking
    15. 15. eCash - eBanking
    16. 16. eCash - eBanking
    17. 17. eCash - eBanking
    18. 18. eCash - eBanking UBL Omni • UBL comes with up with a different from conventional banking service, Like Telenor EasyPaisaa but UBL Omni supported with all mobile networks service. • What is UBL Omni : UBL Omni is branchless banking service by UBL, which means user does not have to go to UBL bank branch to avail banking services.
    19. 19. eCash - eBanking UBL Omni • Account Opening Cash Deposit Cash Withdrawal Utility Bill Payments Prepaid/Postpaid mobile bill payment Domestic Remittance • 1. PTCL 2. SSGC 3. SNGPL 4. KESC 5. HESCO 6. FESCO 7. IESCO 8. QESCO 9. KWSB
    20. 20. eCash - eBanking
    21. 21. eCash - eBanking Easy PaisaEasy Paisa • Telenor Pakistan has partnered with Tameer Micro Finance Bank to introduce branchless banking for the first time in Pakistan. • Easypaisa is not just limited to Telenor subscribers; it’s available for all mobile users. In fact people without mobile phones can equally enjoy our products. So now everyone can use our services from anywhere and anytime.
    22. 22. eCash - eBanking
    23. 23. eCash - eBanking ePayment SolutionsePayment Solutions • Must provide security: resistance to fraud and online attacks • Reliable: highly available and accessible at all times • Cost effective: cost per transaction should be low even for micro- payment • Integrated and scaleable: interoperable amongst different systems, payment methods and multiple servers distributed across the Internet • Convenient and easy to use: should support several devices • Anonymity: should protect the identities of parties to the transactions and should not monitor the sources of finance
    24. 24. eCash - eBanking Main factors when selecting e- payment method • The ability to provide security against fraudulent activity • Being cost effective for low value transaction fees • Being protective of the privacy of the users • Easy to use, and being convenient for purchasing on the web based e-business
    25. 25. eCash - eBanking Advantages and Disadvantages of Electronic Cash • Advantages – More efficient, eventually meaning lower prices – Lower transaction costs – Anybody can use it, unlike credit cards, and does not require special authorization
    26. 26. eCash - eBanking Advantages and Disadvantages of Electronic Cash • Disadvantages – Tax trail non-existent, like regular cash – Money laundering – Susceptible to forgery