Professional Documents
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By:Akash Khetpal
What is E- Banking
Its is called as ELECTRONIC banking Electronic banking is an umbrella term for the process by which a customer may perform banking transactions electronically without visiting the bank. Today the banking industry is expected to be a leading player in e-business. Electronic banking: personal computer (PC) banking, Internet banking, virtual banking, online banking, home banking and phone banking.
e-Payment
Payment through Internet. Does not involve physical cheque/DD/ Cash. No manual intervention of bank personnel. Secured way of money transfer. Industry standard security features used. Convenient to make transactions.
ABC prepares the voucher in SAP for payment Payment detail downloaded in an intermediate file. ABC log on to Bankers Portal and uploads the file. ABC approves for final transaction.
ABC account gets Debited & vendors account gets credited Bank system creates reverse file
ABC download bank statement periodically from bank portal. ABC upload the bank statement into SAP for reconciliation
ABC uploads the reverse file in SAP and takes exception report, for confirmation of right payment
Benefits of e-Payment
Benefits to Payee Instant credit of fund in payees account. Zero cheque traveling / realization time.
Benefits to company or an individual customer. Saving of time & efforts for cheque / DD preparation & distribution.
Security in e-Payment
Security - Needs of Internet Baking : Well protected through proper security mechanism
Goodbye Cheques
Thank You