Insight into the payment and settlement system: Developing model for an internet banking.

Mansooruz-Zafar Dawood; Arjandas P.  Ramnani

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Insight into the payment and settlement system: Developing model for an internet banking.

Author(s)

Mansooruz-Zafar Dawood Department of Computer System, HCC, King Fahid University Petroleum Mineral Dhahran, Saudi Arabia

Arjandas P. Ramnani Department Electronic Engineering, Dawood College of Engineering & Technology, Karachi, Pakistan

Abstract

With the rapid expansion of the Internet, there are a number of initiatives underway for the creation of a secure cost-effective payment and settlement system that will be able to support growing commercial activities (specifically banking activities) on the network. There is always a need to improve the electronic payment and settlement systems due to rapidly expanding volumes of foreign exchange and securities trading. The cost-effective and efficient electronic payment system for making value payments and settlements has always been a priority. This paper will argue on the ultimate vision for a true global and virtual market place for the Banking Industry in its examination of current payment and settlement system with a proposal for developing a model for an Internet Banking.

Publication Details

Page(s) 11-20

DOI DOI not available

Published Journal: Mehran University Research Journal of Engineering and Technology, Volume: 22, Issue: 1, Year: 2003

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