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D2 Presentation Electronic Cheque

D2 Presentation Electronic Cheque . By Gavin Harris, Daniel Wright . Electronic Cheque- Introduction . In this task I am going to Explain the following Parts of Electronic Cheques; Explain and Description Advantages Disadvantages Comparison Conclusion.

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D2 Presentation Electronic Cheque

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  1. D2 PresentationElectronic Cheque By Gavin Harris, Daniel Wright

  2. Electronic Cheque- Introduction In this task I am going to Explain the following Parts of Electronic Cheques; • Explain and Description • Advantages • Disadvantages • Comparison • Conclusion

  3. Explain and Description of Electronic Cheque. • Same as a normal paper cheque - Works very similar to paper cheque • Instant Transaction. - Money is taken straight out the account

  4. Advantages • More reliable • Cant be lost or damaged • Eliminates simple mistakes (Signatures) • Less costs • Cost of stamps and envelopes is eliminated • Instant verification and 24 hour access - Customer and seller get verification message

  5. Disadvantages • Non-Reversible - Once transaction is complete it is non reversible • Not as Secure - You could send to anyone with a simple mistake

  6. Comparison In Comparison to other payment systems; • Not as secure- Compared to PayPal/ NoChex • More secure- Compared to Credit/Debit Card • Less Protection- Compared to all others

  7. Conclusion • In conclusion we have found that each different payment method has its own positives and negatives which will suit different types of purchases. For example a certain payment method might offer the consumer more protection depending on the characteristics of the purchase they are making. • Characteristics include the price involved or the overall product. Is the price a significantly high price that requires protection and is the product something that might need to be returned. • Based on the characteristics the consumer should check the protection that each payment method provides so they can choose the appropriate one.

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