E-banking or Online banking is revolution in the banking system. It is the system in which bank allows the customer to use different facility of bank by his the Internet connected PC. Customer can use this facility for following purposes:-
- Customer can transfer him money from his account to another person’s account.
- He can pay bill through e- banking.
- He can invest money in different investment projects with e-banking or online banking.
- He can watch his account through online or e-banking and get his bank statement for this .
For getting all above facility , banks provide his customers personal identification number and TAN which is used for one time pass ward filling .
History
In UK first time this facility is launched for the purposes providing facility home base online banking to customers.
Electronic funds transfer
Electronic fund transfer (EFT) is electronic bill payment by use of online banking or e-banking.
EBPP
It means electronic bill presentation and payment. When, a seller sells the goods to buyer. Then he has right to get his money. Through his online cart, he showed the sale bill and via credit card of bank, customers pays his buying cost to seller.
