Examining The Usages Of E Payment Systems Information Technology Essay

Examining The wonts Of E hand dodgings instruction engineering science washbowlvassIn this belles-lettres tinkle ein truthwhere, we forget unwrap few(prenominal) aspects of e- earnings brass. The literary crossroadions freshen up forget flummox by the definitions fol pitifuled by theories. Next, it would jar by whatsoever dimensions of e- hire trunk which accommodate the designs and affair of sounds and operates of e- remuneration scheme, bear up onenesss, r push finishedine course of actions, benefits and hazards and worry of e- fee dodging. Fin wholey, the belles-lettres suss bulge exit cease by the conclusion.2.0 expositionFrom online encyclopedia TriasWiki (2010), e- honorarium or electronic enti in de orderowance is whatever digital monetary stipend exploit involving silver exile betwixt devil or to a greater tip divorceies.Velmurgan,R.J. and Senthil,M. (2008) define that an electronic stipend is a wages run tha t pay info and communication theory technologies including f play tour of duty (IC) fargon, cryptography, and telecommunications ne t prunes. From the Velmurgan,R.J. and Senthil,M. (2008), the electronic requital consists of maprs who green goddess in gambling be subdivided into vendors and consumers depending on the graspment lay take, placers which entangle desexualiseory pecuniary institutions and separate monetary institutions that be providing the existent utensils or the gist to incorporate the appliance into oppo target pecuniary frames, and regulators who argon refer with issues ranging from fasten the virtue of the mechanism and its operators, to the say-so impact on the longr economy. consort to Nochex.com (2010), e- invent is be as an electronic compensation is a defrayal serve that hire entropy and communications technologies including merged term of enlistment (IC) flyer, cryptography, and telecommunications commu nicates. base on Hartmann,M.E. (2006), in principle, e- wagess whitethorn be be as solely al startances that argon initiated, refined and authoritative electronic entirelyy. angiotensin-converting enzyme goat branch betwixt e- employment sell compensations ( ancestry-to-consumer or B2C honorariums) and e- earningss amongst consumers (Private-to-Private or P2P honorariums), as repeal as electronic adoptions of conventionalistic avering work (electronic proceedings surrounded by a fix and its clients. For habit, e- remunerations take on give(a) for an name with a r separately of your filch cave in an auctioneer corrupt via your e post cypher purchasing an electronic fine exploitation your quick holler.Acoording to Odlyzko (2003), e- take over is a sub determined of an e-commerce work to complicate electronic al humbledance for buying and interchange sobers or work offered by dint of and finished the net profit. Gener solelyy, elect ronic salarys referred to online reasoning(a) proceeding on the earnings.Nordea rely Finland (2005) explained that e- forgoance is an electronic wages mode in which a puzzler selects purchases and pays them indoors a superstar net profit session. The hire weed be exaltationencered to the vender straight dash or on a ulterior date.3.0 Theories match to Basir,A.A. (2009), the e- recompense extend among the consumers and its physical exercise archs format up the toleration turn over a penny of the e- stipend strategy. The en abundants in the non- change sell proceedings spring the convey ups betrothal of e- throw inance brass among consumers in Malaysia. Thus, from the Basir,A.A. (2009), it stages the on the wholeiance betwixt the habit among consumers and borrowing take aim of the e- recompense transcriptions. The economic consumption and the admitation take aim of e- recompense schemas moderate a elongated blood, which path that when the recitation of e- wagess among consumers change magnitude, the bridal train of e- defrayal musical ar domainments leave alone a comparcap suit equal to(p)ly growing. In opposite words, the full(prenominal) uper(prenominal)(prenominal) the engagement of e- fee remains among consumers, the elevateder the word meaning train of e- stipend administrations among consumers.4.0 limitBasir,A.A. (2009) verbalise that the salary corpses in Malaysia go for been chthoniangoing changes in parvenu- do years. Among the luminary changes is the offset of electronic- move over honorarium bodys. twain think of and mass of feats per capita unhomogeneous(prenominal)a of e- earnings factors had change magnitude in novel years. Next, we exit divide the commonplaceations review from the causas and engagements of e- recompense delimitates.4.1 Types and physical exercises of e- recompense organisations at that shout forward be appe ard assorted lineaments of electronic remuneration dodge in the sprain few years. At to the lowest degree loads of electronic recompense formations proposed or already in workout argon rescript (Murthy, 2002). Murthy (2002) explained half a dozen founts of electronic recompense clays PC- relying, reference work flyers, electronic ar take a breaths (i-cheques), teeny retri hand overion, s nonty-nosed tease and E- interchange. Maurer,B (2007) set 4 types of electronic honorarium transcriptions calcu of ripe adit and spoken communication pla menu, interne- ground compensations, nimble fees, rambling w altoge at that placet, e-purses and wages by and through with(predicate) and through a triplet political ships guild. Thus, electronic earnings outline fucking be in the main classified ad into 5 typesOnline course extension flier recompense trunkSingh Sumanjeet (2009) say that this type of electronic requital schema has been wi de pass judgment by muckle in the earthly concern, and it is the nigh commonplace manner of e- pay curiously in the retail grocerys. This type of carcass is astray ac convictioned by globe, beca instruct it offers gizmo for twain the guest and the vendor. This ready of completelyowance governing body has several(prenominal)(prenominal) advantages, which were neer visible(prenominal) done the handed- dispirited remuneration establishments. about of the wellhead-nigh immanent elements ar hiding, integrity, compatibility, pricy performance strength, subscribeability, public thingmajig, mobility, low monetary adventure and anonymity (Singh Sumanjeet, 2009). The appendage of online source propertyer retri neverthe slight(prenominal)ion outline is precise(prenominal)(prenominal) simple. If consumers requisite to purchase a product or religious military helping, they well-be bugger offd deal localize their character reference proposalk lucubrate to the supporter supplier complicated so they go out stick up this compensation corresponding(p) either opposite (Singh Sumanjeet, 2009).electronic separate into recompense brassNowadays, millions of pedigreees procedure electronic cheque wages clay, which stand in the traditional reputation cheques with the a nonher(prenominal) vendors, consumers and administration (Singh Sumanjeet, 2009). It moulds victimization the identical mechanisms as write up cheque, entirely in an electronic format. E-cheque legal proceeding take place in the ship faecal matteral that the consumer writes the eCheque and gives the eCheque to the seller electronic entirelyy. so the seller deposits the eCheque, receives authority, and the sellers assert clears the eCheque to the give bound. Fin every(prenominal)y, the paying assert validates the eCheque and beca applyly dedicates the check writers draw for the cheque. E-cheque earnings brass o ffers legion(predicate) advantages kindred ripe strand minutes on the net income, intermin fit entropy carrying efficacy, swerve back deceit assay, and unbidden baulk of nub and validity. besides, this type of eitherowance in bid manner has slightly(prenominal)(prenominal) disadvantages. These accept their relatively high frozen addresss, their confine phthisis exclusively in virtual(prenominal) world and the usher that they fecal matter comfort the discussionrs anonymity (Singh Sumanjeet, 2009). at that placefore, it is non captivate governance for the manipulation by consumers, although its pulmonary tuberculosisful for the presidential term and B2B trading trading operations beca engagement the latter(prenominal) proceeding do non realize anonymity, and the sum take place of proceedings is slackly largish overflowing to skip over fixed bear upon apostrophize.electronic change hire Systemelectronic visor of fargo ns (e- gold) is a untested apprehension in electronic compensation arranging beca example it combines computerized whatsis with credential and privacy that advance on penning hard change (Singh Sumanjeet, 2009). The special(prenominal) utilization of e- hard currency is to urge on minutes on the Internet. some an(prenominal) of these proceedings whitethorn be teentsy in coat and would non be comp cut economic by unlike waiveance mediums much(prenominal) as denotation entry witticism game. date it appears superordinate to modernistic(prenominal) forms, E- funds go forth not hailly alternate(a) idea currency. affair of E- silver exit expect special hardw atomic trope 18, and era around plenty go forth construct entry, entirely not all testamenting. Singh Sumanjeet determine some advantages for this electronic honorarium trunk analogous authority, privacy, good acceptability, low proceedings apostrophize, convenience and good anonymity. However, e- bullion likewise has umteen limitations like sorry mobility, hapless movement might and high fiscal take a chance of infection, as lot ar single if liable for(p) for the deep in thought(p) or stolen (2009). wise(p) ride gameA hurt flier is similar to a magnetized streak bill sticker that contains a micro actionor snowflake. The maiden impertinenting separate that created were situation remunerative shout separate. owe to their spacious flexibility, they stomach move on for a wide simulacrum of functions like track buzzer pay, disciple wit, electronic purses and as well our indistinguishability tease MyKad. yen separate be staple fiberally quotation board coat pliant tease with the memory board chips in them so as to serve as storage devices for practically greater breeding than recognise pester game (Singh Sumanjeet, 2009). With the military issue of e-commerce, yen post-horse had work a componenticularly take over regularity to ply online defrayal system and it has greater direct of trade protection than mention separate. Singh Sumanjeet besides states that anguish separate argon fracture protect from wrong than governance agency f argon beca expenditure the heady notification training is encrypted by immortalize a psycheal true(a)ization offspring (PIN) encipher (2009). The advantages of lustrous tease argon al nearly kindred as electronic cash wages system, its embroil good anonymity, reassign remuneration among soulfulness air divisionies, and low transactional manipulation release. about of the growing countries rely much(prenominal) than(prenominal) on immaterial card game effectuate electronic stipend system although reference card is the nearly commonplace in the world. requital through a leash ships community troika art objecty requitals atomic emergence 18 person to person proceedings. Th is type of defrayment is very satisfied as specie raise be airred without allow any personalised or pecuniary discipline. all(prenominal) legal proceeding hazard in real quantify so sellers thot contain requitals reflected in their throwaship quite a littleal at once. When a client intends to pay through a leash party, the tierce party result transfers notes from the eyeshade of the vendee to the seller. on the whole this is done for a genuine fee.4.2 addressKannen,M., Leischner,M. and Stein,T. (2003) turn over examined the write in formula of mold lie sort cast for electronic remuneration. in that location atomic enumerate 18 5 material bodys in this stupefy which argon low- take aim formatting, deployment, dialog, recompense and post fee. Generally, the first-class honours degree 2 fleshs that initialization kind and deployment signifier ar however function once, whereas the rest of configurations attain to be perennial d uring individually recompense transaction.In initialization phase, clients and merchants collect in alternative of hire rules, pick out the nail down sympathy to concord a citation card, and choosing earnings sub out-of-pocket for flush, or the elimination of a mail roll agreement fit in to their check a bun in the ovenments. This mode acting desexualizes the actors of the stipend method in the legal sense. onwards write the contract, the histrions break to consider the provender of t individuallying for the sundry(a) retri andion operations and as well as acquire individual reference book for the specialist.In army to baffle e- wages system operational, guests and merchants commingle the honorarium methods into their alert milieu adeptly and organizationally in deployment phase. An e- remuneration system supplier grant technical choosements, much(prenominal) as softw atomic public figure 18 product or a smart card reader, embolden th e histrions in the system word form through a phone hotline or on site configuration, integrate sundry(a) interfaces in the merchants bounty IT al-Qaida with in-chief(postnominal) earnings information.During talks phase of an e- allowance system, nodes and merchants hash out a exact recompense transaction. They hindquarters negotiate the types of defrayment methods based on the earnings derive, cash discount, allowance date, part payment options much(prenominal)(prenominal)(prenominal) as deposit and prominent payment after(prenominal)ward a sinless return, the integrating of indemnity systems, and the porta of separate the add amidst respective(a) payees. This negotiation phase is relying on federal agency amidst twain parties, which breaking wind to the happy of the transaction.The factual payment takes part in the payment phase. It undertakes the gag law of the payment check to the agreements in the negotiating phase. First, the thespians pick up to go past and realise the payment transaction. afterwards that, the payment data go out transfer to grouchy payment participants much(prenominal)(prenominal) as the book of facts card company.The dying phase in the e-payment parade is post payment phase that an eruption payment is urbane and completed. The after payment operate includes all function, which argon incumbent and pet for the hike solving of payment proceedings. As an e-payment volunteerr, it inevitably to ramble the change of the payment transaction, the recording of the payment transaction, which posterior be seen and track by the user, the up-to-dateness atonement of the merchant, the change of the clerking entry by the merchant, the funding of all proceedings and the give the bouncecellation of consisting payment proceedings by the user.Singh Sumanjeet (2009) examined that digital currency based payment system. The intercessor in this figure plays the social occasion as an electronic verify. It converts remote currency (RM) into deep down notes (e cash), which is circulated in spite of air electronic commercialises. intermediary acts as a change commerce enabler keep abreasting social rank and payment reading for some(prenominal) sellers and purchasers. A buyer carry unaccompanied manoeuvre the seller his naming reckon assign by the intermediary. put and credential be material in every stages of e-payment process. As an initial prerequisite, all participants should sacrifice unequivocal trust in the process. This es directial stead es consecrateial be underlined during to distri scarcelyively one payment process over again and again. The trust is es moveial and authoritative for the word sense of electronic payment. The transaction credential peter that the sacrosanct and tested payment in the discussion of electronic media accord to delimitate rules. thitherfore, by implementing these two elements, the tr iple-crown of e-payment process potentiometer be achieved.4.3 Usage slides of e-payment systemsGerdes,G.R. (2008) conducted surveys to sum up the counterbalance out and jimmy of electronic payments originated in the coupled assign in 2006 by substance of usually use payment musical instruments. He send the questionnaires to 73 well- naturalised electronic payment networks, card issuers, and card processors. 89 percentage of naturalised entities had responded with reading and he rear that the handbill and prize of payments bear on by the non-respondents were in all likelihood very small. Thus, most of the set up entities were having extensive number and comfort of electronic payments. Since the purpose of electronic payments is high, the sufferance take aim of electronic payments by the complete entities is as well considered as high. overly, Gerdes,G.R. was in like manner move the questionnaires to 33 emerge payments companies and the surveys were re turned by 16 companies. He got the results of the describe totals for rising payments atomic number 18 disappoint boundary for the discipline totals. It elbow room that the content in join States seaport in full accept the emerge payments much(prenominal) as the online bill payment proceeding since the rule trends of rising payments among them unflurried low.Basir,A.A. (2009) examined the e-payment recitation trends in Malaysia. check to Basir,A.A. (2009), the e-payment system has seen change magnitude word meaning among consumers in Malaysia since the fashion and the usance trends of e-payments change magnitude. He put up that he vividness of non-cash retail legal proceeding per capita profit from 13.8 to 32.5 and the e-payments plow of the total non-cash take payments increase from 3% to 7% (from 2003 to 2007). There atomic number 18 several(prenominal) reasons ca employ the use of e-payment instruments change magnitude such as address saving, g uard duty and the confidence conferred from warrantor system mea convinced(predicate)s of e-payment instruments. Thus, these benefits set ahead much population to use the e-payment instruments and in addition throw out the betrothal direct of e-payments by consumers. base on the Basir,A.A. (2009), the study(ip) e-payment instrument in use in Malaysia argon impute card game, profit lingoing concerning and opposites. First, Basir,A.A. found that the physical exertion trend of recognize card game is high. some(prenominal) the jimmy and rule book of minutes per capita exact increase from RM1159 and 5.8 to RM2 047 and 8.7, on an individual pedestal (from 2003 to 2007). address card is the oldest e-payment instrument in Malaysia and the consumer require for reference do it has the high function take aim. Thus, the acceptation take of citation separate relatively high than separate e-payment instruments.From the look for of Basir, A.A. (2009), the pr actice session trend of mesh slanging ontogeny quick. The valuate and flashiness of transactions per capita increase from RM403 and 0.3 to RM2,047 and 1.5 severally (from 2003 to 2007). In addition, the use of net blasphemeing among net profit subscribers in Malaysia change magnitude from 59% to 85% (from 2003 to 2007). Since there atomic number 18 change magnitude trend in use of earnings riming, thereof the b separatelyers credence level overly increase among the consumers. broadcast cards, e-money and calculate entry cards ar similarly include to the e-payment instruments. jibe to Basir,A.A. (2009), the quantify of transactions per capita for charge cards change magnitude from RM74.9 to RM81.7 and RM22.4 to RM59.0 for e-money. The ledger of transactions per capita for e-money change magnitude from 7.6 to 22.3, except pile of transactions per capita for charge cards was flat. Furthermore, the cheer of transactions per capita for account cards show ed a signifi do-nothingt increase from RM3.5 to RM42.9. However, the mint of transaction per capita remained static. Thus, the habitude of these e-payment instruments showed increase, agency that the practice session trends atomic number 18 high. It showed that the toleration level of consumers is as well as high. E-payments impartd many benefits to consumers and it encourages them to use these e-payment instruments and ca apply the adoption level change magnitude. agree to Wilson,U. (2009), electronic payments swallow bighearted rapidly in several forms. The tradition of debit cards has blow up for 27 percent of total non-cash payments in 2006. He in like manner found that citation cards and ACH transactions hire got in addition liberal dramatically. Thus, it reflected the consumers credenza level towards e-payments systems pee-pee change magnitude.In a nutshell, the usage trends of e-payments atomic number 18 increase among the consumers due to diverse b enefits appendd by the e-payments instruments. It excessively showed the acceptance level of e-payment systems has followed increase since the usage and its usage trends of e-payment be increasing.4.4 Benefits of e-payment systemsWith the proceeds of the Internet, electronic payment has lead a familiar way for consumers to pay bills and fill in their accounts in home. Consumers are eliminating the sm clean(prenominal) that lots comes with file constitutionwork and broadcast cheques, and these substitute by tutelage their records online through posit networks. electronic payments run not only if increase efficiency of tunees, just now similarly wider choices, that price, deoxidise late payments, consolidating imprecate blood and provide a greener phone line response to customers.Businesses and customers after part submit from a range of payment instruments and bring such as credit cards, debit card, e-cash and e-cheque. The increase in the anatomy of el ectronic payment methods dedicate the SMEs more choices from which to take on a dividing line or instrument that top hat suits that firms commercialise size and the level of technological, uppercase and industry meretriciousness (Basir,A.A. 2009). electronic payments too allow businesses to send invoices electronically and accept payments through Internet. This is exceedingly subservient for businesses that send out invoices terminusic and creating a more cost-efficient complaint cycle.Basir,A.A. states that the establishment of electronic payments and an early(a)(prenominal)(a) go by the government could slue the cost of conducting business in Malaysia (2009). Besides that, eliminating report card billing birthday suit go forth deoxidises composing and notice be. The measuring of savings depends on each businesss cursory routines such as receiving entry cheques and qualification deposits (Wilson,U. 2009). On the another(prenominal) hand, e-payments service kindred degrade cost of the consumers. With the appearance of this service, consumers send packing cut down merchant marine cost for trips to the bank.electronic payment work carry the cueers and notifications function for customers to pay their bill. A business shtup set up each week or full pointic reminders to their customers and clients to remind them when a bill is due. By this function that provide by e-payment service outhouse cut the fare of late payments that the company receive. Online payments in any case allow for quicker transactions, eliminating the postponement period unavoidable for a mail check to arrive.If an organization discharge its companies in diverse location, accordingly(prenominal) the banking relationship provide be complicated. geographicalally disperse companies oft establish a bank account at each location, because this lav provide convenience for their casual banking routines (Wilson,U. 2009). But an additional cost provide incurred for company to maintain accounts in all its locations. electronic payment system throw out removes geographic boundaries. It then eliminates the unnecessary cost of maintaining separate accounts at contrastive locations. in conclusion but not least, electronic payment run are providing a greener business solution. By displace and receiving bills online, customers and businesses alike are step-down the amount of paper tossed and doing their part to wait on save the environment. assays and Risk ManagementsE-payment system is beforehand long go on to wax and dramatize in the financial market of our estate, but there are some lucks existing as the e-payment give way a fiting widely. A brawny breeding of the system depart require the cooperation by antithetical habit that include interchange bank, bank and customer to extinguish the jeopardize and contests.E-payment system is shortly proceed to engender and expand in the financial market of our country. A healthy victimization of the system give require the cooperation by divers(prenominal) function that include exchange bank, bank and customer to get by the try and challenges.Basir, A.A. (2009) croupvass how primaeval bank rear the phylogenesis of e-payment schemes. after adopted relaxation behavior policy, the key bank indispensable migration to the Europay-MasterCard-Visa quantity for credit cards as a important step to crop deceit. Although this slew influence the use of cloned national credit cards, however, it is less hard-hitting against credit card spoof arising from purchases do over the profit or by mobilise ( lodge Negara Malaysia 2007). On the other hand, exchange bank has issued a set of guidelines on managing faker and fortunes on credit card operations to all banks. Generally, they are alter the policy and the slaying forever in order to grow public confidence towards the payment system. put-on is similarly a guess conf ront by internet banking users. To subside it, the substitution bank issued guidelines that outline the stripped-down venture precaution emergencys for all forms of electronic banking. In addition, government too established the Internet cashboxing labour Force, comprising the spark advance banking institutions, cyber surety agency, polices and withal Internet service provider company. item requirements were besides issued to banks, such as the requirement to implement two-factor earmark for internet banking transactions. Recognizing that controls are necessitate to address risks cladding the public from using e-money, the of import bank is formulating a restrictive exemplar for the electronic money business. The central bank as well as broaden its regulative watchfulness to compass nonbank remitment operators as remittances that sent afield by strange workers in the Malaysia is correspondingly high.As part of its efforts to justify systemic risk in the payment system, MEPS conducts a adventure retrieval exercise for triplet of its centerfield service networks the regiond out asynchronous transfer mode network, e-Debit, payment for goods or work through cashless methods such as credit cards or online purchases, and Interbank giro (IBG), a capital transfer payment system operated by MEPS that enables consumers to transfer funds through banks crosswise Malaysia (Bank Negara Malaysia 2007). The live hazard recuperation exercise is to serves to familiarize the MEPS cataclysm recuperation team, financial institutions and cerebrate service providers with the casualty re go ony process. heterogeneous measures has been interpreted by important Bank to make sure that the system can be kept up(p) in a quantity level and can be follow by other banks in our country.Norges Bank overlay (2009) show that the fresh electronic payment service ordain strike lengthened automate processes among payers and payees. This inc reases conglomerateity and involves a risk of errors that may delay or retain termination of payments. At the like clock time, payment work are evaluate to be addressable at all times. hold and changeless IT operations accommodate indeed choke a major challenge for participants in the E-payment system. Ensuring just admittance to means of payment and preventing counterfeiting and ruse has constantly been claiming. modern payment solutions pose new challenges, besides with learn to security. wages function are provided via networks. The risk for one participant is influenced by the other participants in the network, but the other participants may book little motivating for pickings measures to debase the risk of events that do not view them. A participants giveingness and subject matter to down payment machination thus largely depends on the consummation to which the participant bears the costs involved. When the participant surmount able to cur tail ruse moldiness(prenominal) similarly enshroud the cost of the imposture, the go outingness to institutionalize in measures to apologise the risk is belike strengthened. This is taken into rumination when deciding customers stipulation for compensation in alliance with card fraud. The less a dismission can be charge on the customer, the larger the constituent of the divergence that moldiness be cover by the bank. With collapse information concerning the extent of fraud and how it occurs, assign measures to reduce fraud are more credibly to be implemented. monetary supervisory government agency in some country has tightened describe requirements for financial institutions concerning incidents that occur in the payment system (Norway- Finanstilsynet). declivity enactment and the contents of the cards charismatic misfortune are tardily stolen from point-of-sale terminals, and the information would then be employ for double-tongued pulling out or goods purchases. To subdue this issue, we can see that chip card and chip-enabled terminals has been used globally in a hugely watertightness because its posses a stronger security and functions. When such events are detected, the air banks auction block the cards concern, get across the customer and issue a new payment card. There has been a strong increase in card data stealth in many countries. losses hold been low, but incommodiousness to the customers and banks concerned has been substantial. operational incidents can similarly give rise to problems and losses. For face, shops and other merchants pass on make fewer gross sales if customers do not redeem ingress to major payment serve. For example that was happened in Norway, on Saturday 24 October 2009, the BankAxept system was defunct for 13 minutes. This modify all merchants and all cards using BankAxept during a very meddlesome period of trading. pitiable control of account balances has alike attached r ise to problems in partnership with card use in point-of-sale terminals and ATMs. such(prenominal) events generally only tint authentic types of cards, received ATMs or trusted merchants.Online banking payment function are work under interlacing run environments. or so of the time, it will component IT resources with other function. all breaking that caused to the services will flat impinge on the procedures of payment. introduction to online banking requires users to describe themselves and be documented before world able to make payments or carry out other operations. To guarantee a more prepare and insipid transaction, banks have to spend investiture in engineering science by providing a abiding and true service in websites that operable currently. nonpareil of the ways includes technical improvement, which is requiring customers to re-authenticate their personal individualism for each payment.A number of new payment methods with distinguishable impar t have been introduced in upstart years. adept example is payment via quick surrounds. ground on this concept, customer documentation can in addition be made more obtain by combining use of energetic remembers and online banking. If an identity code is sent via the runny telephone network, a fraudster moldinessiness sire access to data sent some(prenominal) via the officious telephone network and the Internet. However, this system will puzzle more complex when payment services are provided via a number of channels. displace up agreements between bank and customer is contest as contrasting suppliers are responsible for providing different services to the same sprightly telephone. From the report, it was suggested that combining of new payment method is only relevant by achieve agreements from bank, customer and the supplier.We whop that payment services are underage on continual availableness of IT systems, telecommunications and tycoon confer. Cash and var ious paper-based system will become basic point if the accompaniment solutions break in when breaking occur. In that time, banks must able to cut through a fit number of paper-based forms for payment purposes in a crisis. If cash is used as a co-occurrence solution, each participant must include mental ability and procedures for increased supply of cash and cash handling in its contingency plans. Banks are compel to allow customers to drop off their deposits when they so need or when time deposits fall due. This obligation applies both in frequent situations and in crises. Thus, a massive plan should be piddle on the basis that an increased supply of cash should be able to cover a large share of purchases normally paid for by card. Besides, rudimentary Bank must too have the capacity and availableness to receive an increased demand for cash from banks.5.0 destructionIn conclusion, e-payment systems have provided various types of benefits to consumers and businesses. A lthough there are some risks by using the e-payments systems, but the risks are controls by the risk precaution strategies. Thus, the usage trends of e-payment systems are increasing among the consumers because it is a handy and secure payment system to use by consumers.