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140317672151
Telangana.
2018
INDEX
INTRODUCTION
REVIEW OF LITERATURE
RESEARCH METHODOLOGY
REFERENCES
BIBLIOGRAPHY
INTRODUCTION
The online system also very common on internet, it works by their retail, credit union, and
virtual bank by secure the website to carry out the financial transaction by customers. Some
online goods and services are still infancy and going innovations build through the internet
growing rapidly as a marketplace for the exchange of both tangible and information goods
and services. Besides online marketing and internet usage are growing to be more advanced.
Paying is not definitely paper currency on the transaction, because the transaction going
substituent with the online payment system or the card. Multitudinous payment mechanisms
suitable for use in this marketplace are in several stages of development. This research
project’s scope is limited to online payment systems which focused on the needs of
consumers.
As in usually the case with payment innovations, the success of the smart card will depend on
market circumstances and cooperation among the banks. The proper timing of the
introduction may depend on consumer readiness to use the new system, which will itself be
largely due to prior experience and innovativeness (Andreasen, 1991). The Numerous
Payment Systems have been pervasion on the marketplace, the new system prepared to accept
by better consumers. To the level that consumers have experience with previous systems, the
responsiveness and information of a new payment system will be facilitated.
Lastly , this research project is a key of understanding of consumer behavior and their
payment choices, and also the factors that influence the consumer choose to use
onlinepayment. Moreover, this research project oration the usage of the online payment
system provided a brief literature review on online payment and purpose to explain the
determinants which affect the usage of users towards online payment system.
In late 1970s technology such as Online Data Interchange (EDI) and Online Funds Transfer
(EFT) to promote onlinecommerce transactions, authorized to operate in order to promote,
such as purchase orders or invoices for online business documents. In 1979, Michael Aldrich
contrived a technique as onlinecommerce; the technique was about online shopping to allow
consumers and business through online transaction processing to shop from home and to
trade with other business. In 1980s the enlargement and receipt of credit cards, automated
teller machines (ATM) and telephone.
The first ATM’s machines use of magnetically prearranged plastic, the money could not
automatically withdraw from users’ accounts were off-line machines. So the customer would
perhaps be apprehensively to let a machine handle their money. But the cards used an
encoded magnetic strip, making them safe and reusable. Consequently, just the only
customers with good credit history were able to use ATMs. Therefore nowadays the ATM
industry Association states that there will 1 billion of users using this transaction in ATMs.
Almost 80 percent belong to the private sectors (Commercial Union ATM, 2000).
Despite the rapid development of online payment systems, innovative services, but still faces
some challenges. Business onlinemarkets as herald fundamental changes in the source and
the computer-assisted alternative to existing market arrangements for trading in practice
(Malone et al., 1989). Areas of impact include online catalogues, multimedia mail, online
payment, brokering services and collaborative engineering. Initial implementations of online
commerce have focused on the provision of telecommunications-based infrastructure in
support of Internet-oriented services and online payment systems (Kohala Coast, HI 2009).
Online payment systems should offer at least as much confidentiality as traditional payment
systems currently do. The goal of this requirement is that payment data should not be
exploitable in order to obtain more precise or more comprehensive information about
involved entities example payer profiles. Thus, confidentiality properties of online payment
systems can be distinguished regarding which information they reveal to which parties.
Confidentiality of payment information against other parties can be achieved by encrypting
communication which is no specific property of payment systems. Note that confidentiality in
online payment systems cannot prevent information flows which may happen outside an
online payment system among involved parties for example by observing communication
networks, or revealing data in further commercial interactions (Fiat, Naor 1990).
REVIEW OF LITERATURE
Online payment refers to the mode of payment which does not include physical cash or
cheques. It includes debit card, credit card, smart card, onlinewallet etc. ONLINEcommerce
has its main link in its development on–line in the use of payment methods, some of which
we have analysed in this work .The risk to the online payments are theft of payments data,
personal data and fraudulent rejection on the part of customers. Therefore, and until the use
of online signatures is wide spread, we must use the technology available for the moment to
guarantee a reasonable minimum level of security on the network. With respect to the
payments methods they have been analysed in this work, it is impossible to say that any one
of them is perfect, although each one of them has advantages as opposed to others. If the
client wants to maintain privacy, then they choose those payment methods which guarantee a
higher level of privacy such as ONLINEcash or Net Bill Checks. If the priority is security,
they should use, Smart Cards. Both consumers and service providers can benefit from
onlinepayment systems leading to increase national competitiveness in the long run. The
successful implementations of online payment systems depends on how the security and
privacy dimensions perceived by consumers as well as sellers are popularly managed , in turn
would improve the market confidence in the system.
Websites
www.google.com
www.yahoo.com
www.hdfcbank.com