ELECTRONIC PAYMENTS

Abstract

Internet increasingly significant impact on modern business and brings new challenges for today's banks. Internet Banking offers a range of options. Predictions are that this form of banking will develop very fast in next few years. Internet banking is the cheapest form of banking services, available 24 hours a day, with no limitations. Rejection of the banking transactions carried out via the Internet exists primarily because of fear that key financial information may not be disclosed. Banking products and services offered by most international banks in their Internet business are: Exchange operations, open and use the Loan Account (Loan account), check the condition of the client's accounts, opening and use of check accounts, pay bills electronically, using the system of credit cards (Visa, Master Card ...), securities trading, the suspension of payments (Stop Payment), open and use current accounts, check transactions from the previous period for all client accounts, wire transfers between accounts, etc.. Banking business on the Internet is very quick and economical. Internet banking has many advantages compared to the so-called traditional business of banks. The advantages are mainly reflected in spatial concern, the speed of the transactions, the low price and wide range of banking products and services. Disadvantages of Internet banking are most evident in the security of its operations, the lack of legislation, lack of privacy, alienation and resentment towards innovation and the dangers of misuse of Internet banking for criminal purposes.