E-Commerce in Banking & Service Sector

Prolog: This is a blog to share IT students and Business graduates about E-Commerce in Banking, it is breif disucssion on feature treding, but this is patent to bidding of software compenies.

Blog: To days banking is a walk in and ATM culture, we all used our payments with retail banking and withdrawing money from ATM's, some we use credit cards, to reduce the Banking operational costs the processing of trasactions takes place if offshore.

E-Commerce role:

When it comes to Elecronic commerce, the banking structure, operational procedures, cash flow method, competely going to change, suppose when you got an Bank app  / credit card company app ( like master or visa) in your cell phone you can pay your purchases through your app, it results to reduce physical cash, it means the economy goes in to digitalised, very less ATM's and one ATM carry all banks, they just fill the cash in the ATM, but it doesn't belong to any bank, your withdral send the message to the surver about your cash reserves in that particular bank, the Reserve bank print less cash, even your credit card app you can use with out using your physcal card, it is an option to you.
Another advantage of E-commerce is business to business, for example when a country or investor buy your currency in digital format it up date in your reserve bank, it gives message to the Government about feauture decissions about interest rates, budget, economic situations, chaning rules about foreign investors to take back their profits to their country.

The benefits of Banking E-commerce, Banking is a service industry, every service industry got a charactaristcs of Intangibility, Insaparablity, Heterogenity one a bank loose the customer, it is hard to get back and the bank charges are for survice costs, salary's are for service, so the banks do as much as the operational with out direct contacting the customer and avoid service failures, but also it saves time and increase the convenience to the customer.

The benefits for Banking E-commerce like you can use your app to pay so many service places, the charges you are paying or using banks and so reduced with service apps, no fake notes, good tax system, incresing usage and puchasing power are also benefits of Banking E-commerce.

It gives easy understanding of Physical deficit, Consumer Debt, Industrial GDP, Economic deficit

The commercial aspect of Banking E-commerce is huge in feature.

So students leave your commets on Banking E-Commerce.

Sir Simhadri Kotapati