EFT

EFT 1. Introduce topic  The internet brings to people many things such as information, entertainment… and especially shopping online, it is really useful, by accessing to a shopping website, have a view through products on that website, and by some clicking, you finish buying. It is called EFT. 2. Examine the background of the topic EFT is electronic funds transfer, An electronic payment is any kind of non-cash payment that doesn't involve a paper check. Methods of electronic payments include credit cards, debit cards and the. 3. Explain how it works there are three main types of transactions:  1. A one-time customer-to-vendor payment is commonly used when you shop online at an e-commmerce site, such as Amazon . You click on the shopping cart icon, type in your credit card information and click on the checkout button. The site processes your credit card information and sends you an e-mail notifiying you that your payment was received. On some Web sites, you can use an e-check instead of a credit card. To pay by e-check, you type in your account number and your bank's routing number.  2. You make a recurring customer-to-vendor payment when you pay a bill through a regularly scheduled direct debit from your checking account or an automatic charge to your credit card. This type of payment plan is commonly offered by car insurance companies, phone companies and loan management companies..  3. To use automatic bank-to-vendor payment, your bank must offer a service called online bill pay. You log on to your bank's Web site, enter the vendor's information and authorize your bank to electronically transfer money from your account to pay your bill. In most cases, you can choose whether to do this manually for each billing cycle or have your bills automatically paid on the same day each month.   ·  <span style="COLOR: black; FONT-FAMILY: 'Arial','sans-serif'; mso-ansi-language: EN">Electronic payment is very convenient for the consumer. In most cases, you only need to enter your account information such as your credit card number and shipping address once. <span style="COLOR: black; FONT-FAMILY: Symbol; mso-fareast-font-family: Symbol; mso-bidi-font-family: Symbol; mso-ansi-language: EN"> ·  <span style="COLOR: black; FONT-FAMILY: 'Arial','sans-serif'; mso-ansi-language: EN">Electronic payment lowers costs for businesses. The more payments they can process electronically, the less they spend on paper and postage. Offering electronic payment can also help businesses improve customer retention <span style="COLOR: black; FONT-FAMILY: 'Arial','sans-serif'; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN"> <span style="COLOR: black; FONT-FAMILY: 'Arial','sans-serif'; mso-ansi-language: EN"> ·  <span style="FONT-FAMILY: 'Arial','sans-serif'">Discuss the Social and Ethical issues relating to your topic : security <span style="FONT-FAMILY: 'Arial','sans-serif'">In the internet, there are many hackers, 2 types of hacker, white for good and black for bad. Black hackers will try to hack to those websites, from that they will get all the date from the web server and <span style="FONT-FAMILY: 'Arial','sans-serif'">