Why Payment Methods??
The world is so emerged with
the technology and the people have numerous ways to communicate and satisfy
their needs in what so ever manner. However, we people work very hard to get
money for the welfare of the family by working in cities or other countries but
fail to send the money faster thus it’s important to know the modern methods
and how it reduces time and security.
With the traditional methods
such as the Cheque, demand drafts, telegram are still in use for the payment transfers .There is an need
for the usage of some modern payment methods which includes internet banking,
credit card, debit cards, e-commerce payment systems etc.
Advantages Of Modern Payment
Methods Over Traditional Payment Methods
· Easy to use
· No need to go anywhere
if there is a pc/laptop with internet connection at home
· Faster
· Lots of other uses like
shopping, international money transfers etc
· Security
· So many payment methods
· Reliability
Besides these advantages of the
payment methods there are also few payment related hardware such as credit card
reader, ATM machines, POS Systems which are more advanced and in usage in many
shopping malls, cinemas, hospitals etc…
ATM MACHINES-These
are the devices which comes in handy for the Quick money however these needs an
debit card ATM which is provided by the bank if you have an account and we can
also transfer payments from one ATM to another via ATM Card numbers.
CREDIT/DEBIT CARD READER – These credit/debit card readers are very much useful
whenever you go for shopping and security is well within as it needs just the
customers’ pin number. These are widely used and are become a common hardware
which is found almost in any shopping complex.
POS SYSTEMS- These
are the modern point of sales systems which comes up with an iPad interface and
also embedded with credit card reader, barcode scanner, and printer and also
needs a Wi-Fi Router which supports the POS system. With the usage of POS
Systems is most widely used as it has all the payments and thus nowhere else to
go.
