We transfer cash through payment. It is usually done in the event you have rendered or respected any type of service from somewhere, or you could have loaned some amount from somebody or you provide money to support your family (parents and youngsters). The method of payment often deals with money but frequently substitutes like drafts (that of cheques), documentary credits (that of letter of credits), account to account transfer via fone or Internet banking have been utilized too. Now let us debate of what the whole system is about.
Remember the way in which the old types of payment used to take place; generally and only thru cheques, drafts, letter of credits and account to account transfer. This meant that transaction time was extended and often took as long as a week. But now with the appearance of PCs and other latest technologies the style of payments has dilated its scope and has become both physical and electronic, with different rules and techniques. Electronic payment system has not only given birth to ATM card, Automated Teller Machines (ATM), Visa card or electronic fund transfers but also that of direct credits, direct debits, Internet banking, electronic cash transfer and last but not the least the system of ecommerce. Some payments either are done on a credit or a debit basis. This expansion in the technology has not only made payments extremely easy to do but also made it happen fast and fast across the world from one country to another.
Now let us come to the incontrovertible fact of how you can make that system of payment quite safe. It isn't a problem when payments are made physically either in the form of money or by its substitute, but cases like theft can take place but not if you're extremely careful with the money. Now when it comes down to electronic transfer the losing your money due to fraud is kind of dreadful. Frequently we leak out our private information over the net including that of account number and its pin, without knowing that our account can be hacked. It principally happens when one makes an attempt to make payment thru a credit or an ATM card and that too online. In cases like these one needs to keep his pin number very safely and don't reveal it to anybody. Also ensure you are a holder of the account of a reputed bank which not only provides you with good services but also with top class security.
The major amount of money loss or hazardous transactions principally happens thru online payment. Often illegal or misleading websites ask for secret details of debit or credit card, which if disclosed leads to a total loss of cash. This kind of fraud is very common nowadays but it isn't that most unlikely to handle. Websites providing one with SSL encryption (Secure Sockets Layer) answers this problem of insecurity.
These are the things which one should know to ensure safe payment transactions. So stay cheerful by paying cleverly.
Remember the way in which the old types of payment used to take place; generally and only thru cheques, drafts, letter of credits and account to account transfer. This meant that transaction time was extended and often took as long as a week. But now with the appearance of PCs and other latest technologies the style of payments has dilated its scope and has become both physical and electronic, with different rules and techniques. Electronic payment system has not only given birth to ATM card, Automated Teller Machines (ATM), Visa card or electronic fund transfers but also that of direct credits, direct debits, Internet banking, electronic cash transfer and last but not the least the system of ecommerce. Some payments either are done on a credit or a debit basis. This expansion in the technology has not only made payments extremely easy to do but also made it happen fast and fast across the world from one country to another.
Now let us come to the incontrovertible fact of how you can make that system of payment quite safe. It isn't a problem when payments are made physically either in the form of money or by its substitute, but cases like theft can take place but not if you're extremely careful with the money. Now when it comes down to electronic transfer the losing your money due to fraud is kind of dreadful. Frequently we leak out our private information over the net including that of account number and its pin, without knowing that our account can be hacked. It principally happens when one makes an attempt to make payment thru a credit or an ATM card and that too online. In cases like these one needs to keep his pin number very safely and don't reveal it to anybody. Also ensure you are a holder of the account of a reputed bank which not only provides you with good services but also with top class security.
The major amount of money loss or hazardous transactions principally happens thru online payment. Often illegal or misleading websites ask for secret details of debit or credit card, which if disclosed leads to a total loss of cash. This kind of fraud is very common nowadays but it isn't that most unlikely to handle. Websites providing one with SSL encryption (Secure Sockets Layer) answers this problem of insecurity.
These are the things which one should know to ensure safe payment transactions. So stay cheerful by paying cleverly.
About the Author:
This article is penned by Jessie Robertson on the benefits and disadvantages of payment systems. She has additionally finished articles on safety payment and online payment. She's an excellent writer of articles related to payments. Her techniques are unique and supply huge help for the readers.
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