Taking a Look at E-Payment Systems

The threats and opportunities in the e-banking line are increased due to the introduction of internet. The threat of e-banks and the point of equality concept are very highly used by the current competitors. There are rivals such as CIMB clicks, Hong Leong online banking and many more which cause Maybank2u.com unable to monopolize the market. As a consequence, the customers can exchange brands easily. Moreover, the customer of Maybank are likely to concern with the safety matter of online banking. They prefers to do transaction in the classic ways more than online banking due to their lacking of confidence toward security and safety matter of online banking. They are scared of hacker that might intercept their information. But other than that, the bank may significantly affected by the present macroeconomic situation across the global and adjustment in economic policies in South East Asian countries. This happened because Maybank’s goal is to widen Islamic business in markets such as Singapore and Indonesia as part of their target on the ASEAN

(Federal Financial Institutions Examination Council,2003). The usual E-banking services provided by banks are account management; bill payment and presentment; new account opening; consumer wire transfers; investment/brokerage services; loan application and approval; account aggregation; cash management ; small business loan applications, approvals, or advances; commercial wire transfers; business-to-business payments; employee benefits/pension administration etc. Online banking or E-banking has spread around the world and has become common these days. In general, banking services have changed over the past three decades to meet the consumers’ needs (McKinsey & Company, 2012); at that time, when the consumer needed money for purchases or to make a transaction, he needed to go to the bank by himself during the bank hours and perhaps waited in a long line to meet a human teller to implement his transaction. Nowadays, due to the E-channels that surfaced with the development of technology and the Internet, the processes of banking have changed. The consumer can make a transaction from one account to another while sitting in his couch anytime and anywhere.

According to Berenson (2010), this payment model is considered to be the dominant payment model, with a representation of over 90% of primary care revenue. Although the use of this payment model has been problematic for primary care, many physicians who make use of the fee-for-service system have been greatly rewarded. The problems associated with fee-for-service are not only felt in the United States, but by doctors from around the globe. Such problems encountered by physicians have led to the reduction of quality care in the services provided. Compensation is based on the number and complexity of procedures the specialist performs.

Aijaz ,Shaikh & Karjaluoto (2014) carried out a literature review on mobile banking adoption. In their research report journal they acknowledged that e-commerce continues to play a significant role in the international business environment. They further stated that technologies and applications now focus more on mobile commerce, mobile computing among others. Consequently, mobile banking has been considered an instrumental channel of distribution and therefore research focus on its adoption. By the year 2017 there is a prediction that over 1 Billion people will be using mobile banking globally which is a representation of 15% of the overall number of mobile users. Statistics also indicate that around half of the overall number of mobile subscribers is unbanked. This therefore indicates growth opportunities for the banks and a current slow trend in adoption of the mobile banking application.

The Purpose of this report is to show the use of current technologies for payment support procedures in small and medium businesses. Article covers various solutions to process payments and ultimately determine the best of them. SME’s are designed to the deal with B2B and/or B2C customers depending on the business needs. As per latest discovered trends in the North America the ‘payment’ is preferred if digitalized, such a trend is a result of efforts Fintech and Paytech companies like bitpay, Kabbage, kantox , etc.x. For intents and purposes payments flow can be categorized as consumer and business. Cash and card for former, cheque and EFT for latter. The need for demonetization emerges so as to match with the with rest of the world in the

As online modes of payment threaten the traditional model, dealerships should adapt sales strategies to build trust with customers. The data shows that people are apprehensive about going into dealerships but do like being able to see the car in person where they can ask questions easily. Management policies should reframe themselves to eliminate short termism. This is a common tragedy seen in many firms. Thaler (p188) was teaching a class on decision making to a group of executives, he asked the group if they would undertake a project with a 50% risk of losing one million dollars and an equal chance of gaining double. Only three of the twenty-three said they would do it. Then he changed the scenario so that the outcomes were all

The continuous development of Internet leads to the growth of e-commerce. The electronic commerce is growing constantly due to the continuously increasing number of mobile and online users in the market, primarily the emerging markets. Besides that, the development of the Information Technology (IT), such as the advance of paying processes and the improvements of shipping method also the main reason to cause the growth of electronic commerce (John Ingham, 2015). Most consumers accept e-commerce as their feasible alternative in the purchase of goods and

The use, acceptance, adoption and application of internet technology to businesses to boast their performances are not something new. Saffu et al., (2008), states that there has been a significant increase in the use and application of e-commerce in businesses in the past decade. E-commerce has benefits such as reduction in costs, increased business opportunities, reduced lead time and providing more personalized service to the customers (Turban et al., 2008). Internet banking or e-banking is one of the many tools of e-commerce adopted by the banking industry. Tools of information technology such as internet banking have significantly improved the quality of services offered by the banking

With the number of online resources growing by leaps and bounds, there has been a remarkable shift in consumer behavior towards electronic payments. The existing forms of payments which are still ruled by cash and cheque payments do not fully address the needs of consumers due to lack of interoperability in the payment processes for the variety of bills, time it takes for transfers and overall cost involved in the transaction .

Mobile commerce is no more a future trend, rather a revolution, which is changing the way e-commerce business. M-Commerce is known as the next generation e-commerce. In this paper, an attempt has been made to find consumers level of perception and satisfaction towards M-Commerce. A sample of 100 respondent’s were conveniently selected from Thanjavore and Tirchirapalli Districy. Simple Percentage, Chi-square and Friedman Ranking test are used to analyse the data. The study concludes that any time any where process, quick process and low cost are the important factors that influence the perception towards M-Commerce.

Dankwambo [3] identified that there are two types of e-Payment in the Nigerian context, which includes:

According to Lawrence & Tar (2010), the efficiency and ease of use of the payments system adopted in a specific area can promote or hinder the development of e-Commerce.

There had been a lot of improvements in the field of payments at stores and through Internet. New innovative systems have achieved a high level of use and they have become very helpful for consumers in their daily lives. Appendix 1 outlines the framework of factors impacting the mobile payment services market (Dahlberg et al., 2008).

The second section reviews studies which have examined the importance of perceived ease of use in explaining customers ' acceptance on online banking. Perceived usefulness and perceived ease of use are the original constructs proposed by Davis (1989) in his model TAM. This model is used as a point of reference to study the factors influencing Internet banking acceptance in Kota Kinabalu, Northern Borneo, Malaysia. Two original constructs of TAM, perceived usefulness and perceived ease of use, as noted earlier will be employed. The third section explains about the importance of perceived credibility - security and privacy in assessing the customers ' plan to use online banking in the future. The fourth section reviews the importance of perceived enjoyment that may affect the customers ' acceptance on online banking. Finally, the last section pertains to social norm as investigated previously by Nysveen et al. (2005); and Venkatesh and Morris (2000). Their studies suggest the importance of social norm in explaining its effect for the technology adoption.

To supersede cash, E-money should be popularized, but it is a hard work. This is because of the low acceptance of people and the high cost of applying E-money transaction system. For the acceptance of people, people use coins and paper notes as usual practice since many years ago. Although, a growing number of banks are trying to use a “click and bricks” strategy and introduce online services so as to attract more customers (Pennathur, 2001), it helps to promote using of E-money. However, people are not familiar with it and need time to adapt. Especially for the elderly people and people without technological knowledge, they usually resist and don’t how to use E-money. Also, E-money is still not so widely used now. To deal with the daily transactions, many of them cannot be done by using E-money. However, cash using is already adapted by people, and all transaction can be done by using cash. Therefore, Wonglimpiyarat (2007) writes “there seems to be no consumer response to the e-cash as a revolutionary means of payment transmission”. It put E-money in a disadvantageous position. On the other hand, the cost of applying E-money transaction system is very high. Because E-money can only use with the E-money products, specific electronic devices are needed to apply for E-money transaction. Also, “a system [of] … electronic money on cards and hard drives … functions efficiently if