25-electronic fund transfer (sudeep peter)
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Presented by:Sudeep peter.
MBA IB 1st sem
Roll no : 25
EFT
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INTRODUCTION
COMPONENTS OF EFT
NETWORK
ADVANTAGES DISADVANTAGES
FUTURE TRENDS
EFT
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Barter system
Coins and paper money
Cheques
DD Credit & Debit cards
Internet Banking, e-commerce, etc.
EFT
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EFT or Electronic Fund Transfer refers to the
computer based systems used to perform
financial transactions electronically.
Used in ATMs, POS Terminals, InternetBanking, etc.
EFT
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1. Banking and financial payment
Large scale or whole sale payment
Small scale or retail payment
Home banking
2. Retailing payment
Credit cards
Private label credit/ Debit
3. Online electronic commerce payment (Token
Based)
Electronic cash
Electronic cheque
Smart card or debit card
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Security
Identification, authentication, authorization,
confidentiality, integrity, availability,
reliability etc
Interoperability(standardization)
Large number of client/merchant involved
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Cryptography
Trusted hardware/software
Secure communication in open network such
as internetDigital certificates
Public key infrastructure.
EFT
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WORKING DATA
STORAGE
COMP
UTER
COMPU
TER
MASS
DATASTORAG
E
COMP
UTER
Transmission
link
EFT communications link
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Sale:- Where the cardholder pays for goods or service.
Deposit:- Where a cardholder deposits funds to theirown account (typically at an ATM).
Cashback:- Where a cardholder withdraws funds fromtheir own account at the same time as making a
purchase.Inter-account transfer:- Transferring funds betweenlinked accounts belonging to the same cardholder.
Payment:- Transferring funds to a third party account
Inquiry:- A transaction without financial impact.
Refund:- Where a merchant refunds an earlier paymentmade by a cardholder.
Withdrawl:- The cardholder withdraws funds.
Administrative:- This covers a variety of non-financialtransactions including PIN change.
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Reduction of the cost of financial
transactions
Handling of physical cash or cheque is
avoidedPaper transactions are reduced which in turn
helps in the reduction of transaction time.
Transactions can be made with much ease.
This offers great convenience to both
individuals and organizations.
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Fraud.
Failure of technology.
Possible tracking of individuals.
Loss of human reasoning and in turnreasoning.
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M(MOBILE) PAYMENT E payment using wireless and mobile
devices such as cellphone. More popular in western Europe and Asia
less popular in US.
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QUERIES???
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THANK YOU.
EFT