Studying the evaluation of electronic payment methods and the future of traditional payment methods in light of their existence

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Studying the evaluation of electronic payment methods and the future of traditional payment methods in light of their existence
Studying the evaluation of electronic payment methods and the future of traditional payment methods in light of their existence
A study book on evaluating electronic payment methods and the future of traditional payment methods in light of their existence
Written by: Wahiba Abdel Rahim
Study summary
The study evaluating electronic payment methods confirms that electronic payment methods appeared as a result of technological development, and as a solution to the problems and obstacles created by traditional payment methods. Indeed, modern methods were able to spread quickly, and this was helped by the great efforts made by banks to attract the largest possible number of customers and make them test... The effectiveness and advantages of these methods are newly emerging.
A study evaluating electronic payment methods shows that after the emergence of these means, opinions began to conflict about the possibility of replacing them with traditional means, stripping the means of their physical or paper character and relying on electronics. Thus, expectations began for the check to disappear, to be replaced by electronic cards and checks, and the bill of exchange to be replaced by its electronic counterpart, and the same applies to the promissory note. As for transfers, it is sufficient to send their orders via computers and the Internet, without the necessity of writing the orders on papers. On the other hand, there were other opinions that suggested that traditional payment methods would not disappear in light of the emergence of modern ones that have not yet gained full confidence due to their modernity, in addition to the distinction of traditional ones because customers are accustomed to a complete system. Clients are informed of all its secrets through the legal system that includes its provisions.
Electronic payment is the process of transferring money or performing financial transactions using electronic means, such as credit cards, online bank transfers, mobile phone applications, and other electronic means. Electronic payment allows ease and speed in conducting financial transactions and shopping online without the need to use cash. Paper or coins, which is a common method in the modern era to facilitate trade and save time and effort.
The author of the study evaluating electronic payment methods adds that, in light of these opinions, there is a truth, which is that electronic payment methods have achieved advantages that traditional methods could not achieve, as they reduced costs, reduced customers’ suffering, and gave time value. They even encouraged banks to provide new services that benefit all In the public interest, whether for banks or customers.
Advantages of electronic payment include:
Ease and convenience: Individuals and businesses can make payments and receipts quickly and easily online without having to go to the bank or use cash.
Security: Electronic payment features many security measures such as encryption and double authentication to ensure the protection of financial information.
Transaction Tracking: Individuals can easily track their transactions and quickly know the payment status.
Save time and effort: Removes the need for checks or cash, saving time and effort.
Financial savings: Payment and receipt costs can be reduced, saving time and expenses related to traditional financial operations.
Global Access: Individuals and businesses can conduct international transactions easily and quickly.
Sustainability: Electronic payment reduces the consumption of paper and environmental resources.
Enhancing online shopping: It contributes to enhancing online shopping and providing safe payment methods for customers.
Reduced risk of theft: Reduces the risk of cash or checks being stolen and makes transactions more secure.
Supporting innovation: contributes to the development of new alliances and innovations in the field of business and online commerce.
The study evaluating electronic payment methods confirms that, despite the modernity of electronic payment methods, they have reached a stage where these methods can be evaluated and the factors that help their success can be deduced. It is also possible to note the factors that hinder the progress and development of these modern means and lead to the public’s evasion and fear of them.
The study evaluating electronic payment methods stresses that the growth of the Internet is a fundamental factor for the development and success of electronic payment methods as it is the appropriate environment for the circulation of these means, especially electronic commerce that takes place on this network and in which payment is made by electronic means. The growth and spread of the Internet helps in the spread of electronic means and thus Its development and success.
The importance of the Doc Suite system in electronic payment
The DocSuite system uses barcode technology to complete payment operations and electronic transfer of funds. This system is considered of great importance in the field of electronic payment for many reasons:
Ease of use: DocSuite is considered one of the easiest electronic payment systems to use, as users can open the mobile application and scan the barcode to complete payment transactions quickly and easily.
Security: The DocSuite system allows data to be encrypted and secured, making it a safe option for making electronic payments, and this enhances users’ confidence in using it.
Efficiency and speed: Payments and electronic transfers can be completed very quickly using DocSuite, saving time and effort.
Merchants support: Companies and merchants can use the DocSuite system to easily accept electronic payments from customers, which increases business expansion and makes business operations more effective..
Reducing cash: DocSuite contributes to reducing dependence on cash, which reduces the risk of theft and contributes to strengthening the digital economy.
Track and manage operations: The Doc Suite system allows users to effectively track and manage their financial operations, as they can easily know the details of transactions and expenses.
In short, the Doc Suite system is considered one of the modern and effective tools in facilitating and enhancing electronic payment, and it contributes to achieving speed, security and efficiency in these processes.
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