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electronic fund transfereft or electronic funds transfer refers to the computer-based systems used to achieve financial transactions by
electronic commerce providersa transaction is a contract communication or movement carried out between separate entities or substance often
fees charged to customersthe main fees are for delayed payments or late payments charges that result in more than the credit limit on the card
costscredit card issuers banks have more than a few types of costsinterest expensesbanks usually borrow the money they then provide to their
securitycredit card safety relies on the physical safety of the plastic card in addition to the privacy of the credit card number consequently
prepaid credit cardsa prepaid credit card is not a credit card while no credit is presented by the card issuer the card-holder spends money which has
secured credit cardsa protected credit card is a kind of credit card protected by a deposit account owned by the cardholder usually the cardholder
the flow of money and information between these parties - forever via the card relations - is known as the substitution and it consists of a
parties involved cardholder the owner of the card used to create a purchase the customer card-issuing bank the financial organization or other
fits to merchantsan illustration of street markets accept credit cardsfor merchants a credit card transaction is frequently added more security than
grace perioda credit cards grace period is the time the consumer has to recompense the balance previous to interest is charged to the balance grace
benefits to customersbecause of extreme fight in the credit card manufacturing credit card providers often present incentives for instance regular
interest chargescredit card issuers frequently put aside interest charges if the balance is paid in full every month but usually will charge full
how credit cards workcredit cards are issued after an account has been accepted by the credit supplier after which cardholders can use it to
credit card basicsa credit card is element of a system of payments named after the little plastic card issued to users of the system the issuer of
security protocolsa security protocol encryption protocol or cryptographic protocol is a conceptual or actual protocol that performs a
three broad models of ebpp have emerged these are1 consolidation wherever many bills for any one receiver are made accessible at one web site
electronic bill presentment and paymentelectronic bill presentment and payment ebpp is a practically latest technique that allows consumers to view
financial cyber-mediariesthese are companies that facilitate financial transactions to become known over the internet kind of transactions include
credit cards and smart cardsover the years credit cards have roll out to be one of the nearly all common forms of payment for e-commerce transactions
future evolutionthe major focuses of digital cash development are1 being proficient to use it throughout a wider range of hardware for example
off-line anonymous electronic moneyin off-line electronic money the merchant does not require to cooperate with the bank before accepting a coin from
alternativesofficially digital money or electronic is a representation or a system of credits and debits used but not restricted to this to swap
digital currencyelectronic money also known as electronic cash e-money electronic currency digital cash digital money or digital currency refers to
implementation of this standard-this standard became efficient july 1977 it was reaffirmed in 1983 1988 and 1993 it applies to all federal agencies