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8.32.1 Payment Transactions through E-Commerce

1. Online Banking

Online banking, also known as internet banking, e-banking or
virtual banking, is an electronic payment system that enables
customers of a bank or a financial institution to conduct a range of
financial transactions through the financial institution’s website.

2. Mobile Banking

Mobile banking is a service provided by a bank or a financial
institution that allows its customers to conduct a range of financial
transactions remotely using a mobile device such as a mobile

phone or tablet, and using software, usually called an app,
provided by the financial institution for the purpose.
8.32.2 Payment Apps and Services

Payment apps are also referred to as Mobile Wallets. There are many payment apps available in the
market which are very efficient to use and convenient to handle.
The following are some of the wallets which are frequently used in the market.

1. Google Wallet
2. Apple Passbook

3. Paytm Wallet
4. Freecharge Wallet

5. MobiKwik Wallet

6. PayU
7. Square Wallet

8. PayPal
9. Dwolla

10. Venmo
11. Bharat Interface for Money (BHIM) App

The online mode of payment has brought about a drastic change to marketing. There are many
start-ups which are doing very well thanks to the online mode of payment. This revolution has
taken the world by storm.

8.33 CLOUD COMPUTING

Cloud computing provides computing and storage capacity services to the heterogeneous
Computer Networks
community of end-recipients. The name comes from the use of clouds as an abstraction for the
complex infrastructure.

Cloud Computing = Software as a Service + Platform as a Service + Infrastructure as a Service
+ Data as a Service

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