E- Commerce in Banking Sector

Electronically-based payment systems have been in operation since the 1960s and have been expanding rapidly as well as growing in complexity. However, in most of the major industrialized countries, an inverse relationship exists between the volume and the number of transactions handled electronically.The Internet is experiencing rapid growth which is being largely driven by new commercial users of the network. Other commercial on-line services provided by companies such as CompuServe, America On-line and Prodigy is also expanding rapidly.