Customer Perception on Security System in E-Banking Services with Special References to EDC

P. Sailaja ., Dr. V. Thamodaran .

Abstract


The emergence of E-Banking (Electronic Banking) changed the entire revolutionary concept thereby increased the usage widely leading to more innovation, development in banking technology. In which one of the major development and vastly used in combination of E-commerce and E-banking technology is EDC (Electronic Data Capture) i.e. Card Swiping Machine in Vendor Outlet. For payment transactions at vendor outlet i.e. shopping etc. the debit/credit card is swiped via EDC machine and after few authentication code given by customer and vendor the amount is directly debited from customer account and credited to vendor account as per the banking regulations timeframe. This helps in reducing the handling or carrying cash and transparency of cash transactions for both to the vendor and the customers. The other major E-Banking services are ATM, internet/online banking, Net banking, Mobile banking, SMS banking and Phone banking. This paper has dealt with customers’ satisfaction towards security system in EDC as part of e-banking and its preventive measures.


Keywords


Security system in EDC or Card swiping Machine or POS

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References


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