| Human kind is the most intelligent and evolving species | | | | online bank accounts authorizing transactions. They |
| to have inhabited this world. It is therefore always | | | | connect the merchant's website and the credit card |
| seeking knowledge, convenient ways of | | | | companies. In doing so, the user has the liberty of doing |
| communication and development in general. | | | | such transactions from the safety of the home or |
| It is the result of this quest that in the early 40's the | | | | office and avoiding the physical hassle of going to the |
| precursor of modern day computing machines was | | | | financial institutions or the vendors. |
| first invented. Ever since there has been no letting in | | | | E-banking and business of many sorts is now a normal |
| the pace of progress in this exciting field which has | | | | occurrence and part of the daily routine of a sizable |
| profound effects on almost all the aspects of the | | | | population. |
| modern day human beings. | | | | The internet has eliminated the distances between |
| The most important and sought after offshoot of the | | | | friends and family. The internet provides web services |
| computer or information technology is the internet. It | | | | of different sorts like, social networking services, |
| opens up unlimited vistas of knowledge in a fraction of | | | | chatting services with real time interaction and portals |
| second for the user. The possibilities are literally | | | | providing free lance business opportunities. |
| limitless. | | | | In the beginning no one had envisioned the growth |
| One major branch of internet is the E-commerce. In its | | | | spurt of the internet and its allied e-commerce. The |
| early days, it existed simply as a form of facilitation for | | | | web browsers are instruments which have the ability |
| commercial and financial transactions. Since then it has | | | | of finding and organizing the information quickly and |
| really transformed. | | | | thus have become indispensable tools in the hands of |
| Technologies such as electronic data interchange and | | | | common people. |
| electronic funds transfer were introduced and they | | | | The web was lately considered a medium for sharing |
| allowed the freedom to the businesses to | | | | mere text files. Now with advanced user interface, |
| communicate documents such as invoices via | | | | animations, video and radio streaming the internet has |
| electronic network systems, securely. The growth of | | | | really evolved. |
| telephonic banking, credit cards and automated teller | | | | It is professed that the computer technology especially |
| machines are all too well known and form the back | | | | the internet has a more profound effect on people's |
| bone of e-commerce. There are many vistas in this | | | | lives as compared to the radio or television. This |
| regard which are growing as per the users need and | | | | magical box, the computer with its flexibility has |
| information technology is providing an efficient and | | | | become one stop solution to all the media needs of a |
| secure platform to them. | | | | modern day person. |
| The major electronic payment systems that govern | | | | So it can be safely said that the computers and the |
| current online transactions are credit cards processing | | | | information technology are a part and parcel of the |
| systems and electronic payment gateways. The | | | | modern day man's life and in the years to come are |
| electronic payment gateways facilitate financial | | | | going to flourish even more. |
| transactions online by authenticating credit cards and | | | | |