EPS,TYPES AND RISK INVOLVED
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Transcript of EPS,TYPES AND RISK INVOLVED
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AKASH KUMARROLL NO. 06MBA-FM
ELECTRONIC PAYMENT SYSTEM
SHASHANK CHAURASIYAROLL NO. 48MBA-FM
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EPS An e-commerce payment
system facilitates the acceptance of electronic payment for online transactions. Also known as a sample of Electronic Data Interchange (EDI)
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TYPES OF EPS NET BANKING E CASH SMART CARDS CREDIT CARDS E WALLETS
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NET BANKING Online banking, also known
as internet banking, e-banking or virtual banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website
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E CASHE-cash (also referred to as digital
cash, digital currency or electronic money) is a method of online payment — a digital representation of real money that can be placed on a computer hard drive, smart card, other devices with memory (including cellular phones and other electronic communication devices), or in an online repository
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SMART CARDS Smart card that has a computer chip
implanted into it that enables the card to perform certain functions. These could include financial transactions, security system access, and storage of medical or other records
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Credit cards A credit card is a card issued by a
financial company giving the holder an option to borrow funds, usually at point of sale. Credit cards charge interest and are primarily used for short-term financing. Interest usually begins one month after a purchase is made, and borrowing limits are pre-set according to the individual's credit rating.
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E WALLETS A system that securely stores
users' payment information and passwords for numerous payment methods and websites. By using a digital wallet, users can complete purchases easily and quickly with near-field communications technology. They can also create stronger passwords without worrying about whether they will be able to remember them later. Digital wallets can be used in conjunction with mobile payment systems that allow customers to pay for purchases with their smart phones.
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GENERAL RISK INVOLVED IN EPS
OPERATIONAL RISK
REPUTATIONAL RISK
LEGAL RISK
CROSS BORDER ISSUE
OTHER RISK
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OPERATIONAL RISK SECURITY RISK SYSTEM DESIGN IMPLEMENTATION MAINTENANCE CUSTOMER MISUSE OF PRODUCT &
SERVICES
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REPUTATIONAL RISK create a lasting negative public image of
overall bank operations major loss of public confidence in the
bank’s ability to perform systems or products do not work as
expected A significant breach of security
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LEGAL RISK Legal risk arises from violations of, or
non-conformance with laws, rules, regulations, or prescribed practices, or when the legal rights and obligations of parties to a transaction are not well established.
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CROSS BORDER ISSUE Banks may face different legal and
regulatory requirements when they deal with customers across national borders.
Jurisdictional ambiguities with respect to the responsibilities of different national authorities.
non-compliance with different national laws and regulations
Market risk in forex.
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OTHER RISK Credit risk Liquidity risk Interest rate risk Market risk
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