ELECTRONIC PAYMENT SYSTEMS - TECHNICAL AND STRATEGIC ISSUES

E-banking which is also known as online banking, internet banking or virtual banking is defined as the automated delivery of new and the regular products and services of a bank directly to customers through electronic, interactive communication channels and permits the customer to conduct range of financial transactions through the financial institution's website. Customers access e-banking services through personal computer (PC), personal digital assistant (PDA), automated teller machine (ATM), kiosk, or touch tone telephone. The e-banking is a part of the core banking system operated by a bank and is in contrast to branch banking, the way customers accessed all the banking services traditionally. The purpose of the study is to analyze the e-payment system in the banks, to determine the effectiveness and usage by the customers. The study adopted the descriptive research method by choosing 200 as its sample for the study using structured questionnaire. The primary data was collected through the survey method from the bank customers. The major findings of the study revealed that the customer feels safe, comfortable in using the e-payment services of the bank. The important finding was that the most of the customers of the study banks are salaried accounts.