in the past 50 years the usage of plastic cars like debit and prepaid cards has emerged as a driving force in the global economy. The increased ability to conduct business on a worldwide scale has brought economic growth to virtually every corner of the planet.
The card originated providing customers to access to their accounts through automatic teller machine (ATM). This is a way for bank to automatically update themselves while reducing the cost, as well as it will benefit the customer.
Initially the card actually carried out account balance information 's and balances. The card holder would get the card into a branch and bank official would “load” money in the card, based on the balances of customers actual account. The customer could then …show more content…
Since the ATM was connected to the bank, it was not required to maintain account balances on the card itself, which removed a major source of fraudulent activity. Also, access to different accounts became possible, as an additional services by the bank.
Once banks started purchasing and installing online automatic teller machine, they quickly analyzed that it is very expensive to maintain a huge number of ATMs. Yet customers started demanding more automatic teller machines, so they could have simple and easier access to their funds. Since many banks in an area would have ATM, the obvious solutions was to somehow cross connect banks so that customers could use ATM at any bank ATM for convenience. Hence ATM’s slowly reduced usage of …show more content…
• (POS) terminal at a retail establishment
But Mobile payments can expose customers personal information to companies that would not be present in a traditional credit card transaction. In addition to the credit card issuers and payment processors, mobile payment service may involve the mobile payment providers, the Internet service providers, and any third party applications that downloaded by the consumers download. With mobile payments, these companies can get access to the consumer bank information revealed during a credit card transaction and can misuse the information.
The present invention provides a computer programs for ordering products from computers connected to the internet, where in the buyer is automatically billed for the ordered goods, service or content based on a virtual payment accounts maintained by a commerce gateways. Thus evolved virtual
The card originated providing customers to access to their accounts through automatic teller machine (ATM). This is a way for bank to automatically update themselves while reducing the cost, as well as it will benefit the customer.
Initially the card actually carried out account balance information 's and balances. The card holder would get the card into a branch and bank official would “load” money in the card, based on the balances of customers actual account. The customer could then …show more content…
Since the ATM was connected to the bank, it was not required to maintain account balances on the card itself, which removed a major source of fraudulent activity. Also, access to different accounts became possible, as an additional services by the bank.
Once banks started purchasing and installing online automatic teller machine, they quickly analyzed that it is very expensive to maintain a huge number of ATMs. Yet customers started demanding more automatic teller machines, so they could have simple and easier access to their funds. Since many banks in an area would have ATM, the obvious solutions was to somehow cross connect banks so that customers could use ATM at any bank ATM for convenience. Hence ATM’s slowly reduced usage of …show more content…
• (POS) terminal at a retail establishment
But Mobile payments can expose customers personal information to companies that would not be present in a traditional credit card transaction. In addition to the credit card issuers and payment processors, mobile payment service may involve the mobile payment providers, the Internet service providers, and any third party applications that downloaded by the consumers download. With mobile payments, these companies can get access to the consumer bank information revealed during a credit card transaction and can misuse the information.
The present invention provides a computer programs for ordering products from computers connected to the internet, where in the buyer is automatically billed for the ordered goods, service or content based on a virtual payment accounts maintained by a commerce gateways. Thus evolved virtual