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What Are The Advantages And Disadvantages Of Net Banking

Decent Essays

D.2
A:
Compare different payment systems. You can present this task in the form of a table clearly detailing similarities, differences, advantages and disadvantages:

PayPal - PayPal is a payment method which is being used around the world, it allows people to do transfers on the internet and also allows to do payments online such as on E-bay or Amazon. The advantage of PayPal is that secure system of the credit card once do you have signed up for PayPal account, by paying with PayPal the credit card’s information remains private. Discount is another advantage of the PayPal, because it sponsors special discounts of a products at the selected retailer for customer and also customers can go to the PayPal shopping website and find out more about …show more content…

This means that they would not have to enter their card number, name or security code, but would choose which click on a link to the website of the bank that they use, where they will be redirected to their banks website and able to pay via the site. The advantages of net banking include the safety compared to giving personal details to websites, which sometimes can seem untrustworthy. Advantages of mobile banking as a whole include again security, but also the ability to access the bank at any time and generally most apps or websites include all the functions that you would expect in a bank, except the human advice and the ability to bank cheques, and this means you should need to physically go to the bank less. However, there are some downsides to online banking, these include security, which is normally seen as an advantage but information can be stolen be identity thieves and this can take months or even years to rectify, and you may lose money that has been spent by the thieves. Obviously, you would not receive the same customer service that you would do if you walked into a bank, this means that you could lose money by not have advice when investing or transferring

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