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e-payment

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  Electronic Payment Systems  Outline  The „Net Effect‟ on Payment/E -Payment  Impact on Developed Countries  Starting point for Developing Nations   New Opportunities  Conventional Payment Mechanisms in United States  Approx 80% of payments in Cash  International Trade involves Wire Transfers, Letters of Credit etc.  Non-Cash Payment Instrument Trans. Volume Trans. Value Average Value Check 71% 10% $1,179 C/D Card 25% 0.1% $59 C/D Transfer  by ACH 2.5% 2% $2,000 Wire Transfer 0.1% 86% $4.3m 1999  –   Source BIS  Retail Payments  –   Net Evolution  Cash  –   evolving (very slowly) to Internet based systems such as Paypal  Credit-Card based systems  –  Ideal for Internet  –   already a global payment method  –    tradition of „card -not-  present‟    –  Combined with Secure Socket Layer, it is used for almost all retail E-commerce  –   high fraud rate  Retail Check  –   being eroded by Electronic Bill Payment, electronic home banking
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