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Electronic Payment: Electronic payments are payments that are made directly to payee from your bank accounts using security features over the Internet to process the transactions. The web information system has transformed our global economy. It is a powerful tool that has changed the way we produce, market and distribute goods and services. Finances and culture have been altered. New styles of commerce have developed. In our daily life often use Debit, ATMS, and Online Purchasing. The days of getting cash from the bank are long gone. We, as individuals, are now able to enjoy the convenience of using automatic teller machines (ATM), debit, and credit cards. These cards can be used to make payments, purchase goods over the internet, and even pay for gas at the gas station. As you can see, using these cards is just like using cash. Instead of giving cash to the teller, you give a plastic card that would deduct the cost of your purchase from the funds you have in the specified account. Debit and credit card transactions are now considered forms of electronic money. In these aspects Bank West can make more improvement to compete the big Banks.
Debit card: In North America, most people's awareness of credit may be more than debit cards. Debit cards and credit cards are accepted at the same places. Debit cards all carry the symbol of one of the major types of credit cards on them, and can be used anywhere that credit cards are accepted.(“What Is the Difference Between a Credit Card and a Debit Card?”2009)But this does not mean that credit card is important than debit cards. Debit cards a plastic card issued by banks to customers. It allows instant purchase, from the user's subsidiary bank account deductions. These cards are different from credit cards, because they are allowed to buy based on the available funds in the account to be debited immediately, rather than through the use of credit can be repaid at a later time. When you use a debit card to pay, you need to