Applications of e-Commerce

E-Banking:

  • The scenario in banks now-a-days is very different.

  • One can withdraw and deposit money at his/her own convenience.

  • Having account in one place in India, one can transact in any part of the country.

  • Some of the new trends in banking sector are as follows:

Telebanking:

  • A customer is given a password number (known as T-PIN i.e., Telephonic personal identification number) through which he can have access to his/ her account.

  • The customer can also access his account and give instructions by using the mobile phone.

Internet Banking:

  • The customer simply uses a password number and gets the details of transactions sitting at home.

ATM:

  • ATM, the acronym for Automated Teller Machine, is increasingly becoming popular in banking industry.

  • ATM is a computerized machine used for most of the routine jobs of a bank.

  • It is operated by a magnetic plastic card popularly known as ATM card.

  • The ATM card in the machine and entering the PIN (Personal Identification Number) the customer can use it for withdrawals and deposits of money.

  • The customer can also get the information about the balance available in account

  • The mini-statement of last 5/10 transactions from the ATM.

Debit Card:

  • A debit card is an electronic card that can be used conveniently while making payments.

  • This card is issued to the customers of the bank having current or savings deposit account.

  • The holder of this card can use this card at several outlets for purchase of goods and services.

  • This card allows the holder to spend up to the balance available in bank account.

  • It can also be used at ATMs just like ATM cards.

Credit Card:

  • The cards are issued to individuals after verifying their credit worthiness.

  • The individual can use those cards at various outlets to make payments.

  • The issuing bank fixes a credit limit up to which the cardholder can purchase goods and services.

  • The bank issues a statement of transactions periodically and the individuals have to pay back the amount to the bank by a due date.

  • The customers get a credit period ranging from 10 to 55 days

  • No interest is charged if the payment is made within the due date.

  • If the customers fails to pay back by due date, the bank charges interest at a high rate on the amount due.

  • The cardholder can also use his/her card to withdraw cash from ATMs.

E-Ticketing

  • Purchasing tickets has become so easy now that you can make railway reservations sitting at home

  • If you have access to Internet you can have all the details of railway information and accordingly you can book a ticket.

  • You have to make payment through credit cards/debit cards for on-line booking of tickets.

  • You can also buy air tickets through similar methods.

  • The highest bidder avails the opportunity of travelling at a rate much lower than the original price.

  • The e-Ticketing service is also available through mobile phones.

E-Advertising

  • Internet advertising has revolutionized marketing strategies.

  • Where as in the net-world the surfer will only click on the advertisement of his/her choice.

  • He may select advertisements of his own interest.

  • E-Advertising is still in its infancy stage and covers only a small portion of the advertising market.

E-Trading

  • On line trading started with the establishment of OTCEI.

  • The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) have also completely switched over to on-line trading

  • It is also taking off among small investors and traders in stock and shares.

  • Internet makes available to them up-to-the-minute information which, until recently, had only been available to financial institutions.

  • The use of on-line brokerage services automates the process of buying and selling.

  • This allows reduction in brokerage charges, makes trading transparent as they can access the information on market prices on-line, and the investor is able to deal at a price viewed immediately.

  • The transfer of ownership of stocks and shares can also be recorded electronically in investor’s Demat accounts thereby avoiding the need for physical delivery.

  • The settlement period to just 3-4 days.

E-Post

  • You know about e-mail which is the fastest means of communication.

  • To send and receive any information through e-mail

  • We need to have a computer with Internet connectivity and the e-mail account of the sender and receiver.

  • This technology has not yet reached the rural and other remote areas of our country

  • The Department of Post has introduced e-Post facility.

  • E-Post is a service under which printed or even handwritten messages are transmitted as email on internet.

  • At the destination post offices, these messages are printed, enveloped and delivered through the postman like other letters.

  • The customer can make payment through a prepaid card that is available in the head post office and other outlets.

  • The customer has to register as a user and access the service at the e-Post portal http://indiapost.nic.in

  • The present tariff for sending the message in A4 size page is Rs.10 per addressee.

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