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The term "transaction" can have two different meanings, both of which might apply: in the realm of computers or database transactions it denotes an atomic change of state, whereas in the realm of business or finance, the term typically denotes an exchange of economic entities (as used by, e.g., Transaction Processing Performance Council or commercial transactions.
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Online Banking ePayments (OBeP) is a type of payments network, developed by the banking industry in conjunction with technology providers. It is specifically designed to address the unique requirements of payments made via the Internet. [1] Key aspects of OBeP that distinguish it from other online payments systems are:
Individuals who fulfil any one of the following conditions should by law file their Income Tax Returns during a financial year: [3]. People whose gross total income (before any deductions exceeds ₹2.5 lakh in FY or ₹3 lakh for senior citizens or ₹5 lakh for super senior citizens).
[7] [8] Their online-banking website uses the identify mode for login verification and the sign mode for transaction verification. The respond mode is used as part of the new PingIt Mobile Payment application for authenticating the account details. The device is also now used in branches, replacing traditional chip and pin devices in order to ...
In June 2015, Apple announced Square would release a Reader capable of accepting Apple Pay and other contactless payments. [29] In 2014, Square launched Square Capital [12] and an online booking tool. [30] In 2015, Square launched a reader for Android and iOS that accepts contactless and chip card payments. [31]
The payment could be deducted from a pre-paid account or charged to a mobile or bank account directly. Mobile payment method via NFC faces significant challenges for wide and fast adoption, due to lack of supporting infrastructure, complex ecosystem of stakeholders, and standards. [25] Some phone manufacturers and banks, however, are enthusiastic.
The following is a list of notable online payment service providers and payment gateway providing companies, their platform base and the countries they offer services in: (POS -- Point of Sale ) Company