This article throws light upon the six main types of electronic based payment systems used in India. The types are: 1. Retail Payment Systems 2. Electronic Retail Payment Instruments 3. Card Based Payment System 4. Real Time Gross Settlement System 5. High Value Clearing Systems 6. NEFT. Type # 1. Retail Payment Systems: Retail payments are transactions which can typically [...]
Read this article to learn about the difference between EFT, NEFT and RTGS. Difference between EFT, NEFT and RTGS EFT and NEFT are electronic fund transfer modes that operate on a deferred net settlement (DNS) basis, which settles transactions in batches. In DNS, the settlement takes place at a particular point of time. All transactions are held up till that [...]
This article throws light upon the six main channels used for the delivery of banking services. The channels are: 1. Branch Banking 2. Mobile Banking 3. ATM Channel of Banking 4. Mobile Banking or Phone Banking, Tele-Banking 5. PC Banking, y, Self Service Banking 6. Internet Banking, Online Banking, E-Banking. Channel # 1. Branch Banking: A branch of a bank [...]