Secondly, benefit to the customer is customers do not have to carry a physical cheque

anywhere because it is convenient and time-saving. It is safer than physical cheque as it can
counteract the potential fraud and theft if the customer carries the check in hand. It also safe
for the customer as the e-Cheque is digitally signed, even if it is intercepted in the
transmission process, the customer will suffer no financial loss. Besides that, customers who
are in categories of business can also serve the corporate market because the firms can use
them in more cost-effective manner. Firms could use electronic cheque to complete payments
across the network in a more cost-effective way than the alternatives accessible.

Lastly, benefit to the third party is the e-cheque payment that the third party plays the
guarantor role and increases the confidence to recover the e-cheque on due time. The third
party server benefits from the e-cheque system by charging both the purchaser and the seller
a service charge or a flat-rate fee. The accounting server may also itself act as a Bank and
provide accounts and make money on the deposit account pool.

In the conclusion, electronic cheque works same as physical cheques thus simplifying
customer education and helping to upgrade the latest technology in virtual banking.

References

Bhusry, M. (n.d.). e-commerce. New Delhi: Fire Wall Media.

Bradfield, J. (2014, July 17). 5 benefits to cheque imaging. Retrieved from Datagraphic:
https://datagraphic.co.uk/news/five-benefits-to-cheque-imaging/

Kaur, S. (2018). Electronic Cheque Instead Of Paper. International Journal of Advanced

Research Trends in Engineering and Technology , 96-99.

Vogels, M. (n.d.). The Advantages of Using Electronic Checks for Your Business.
Retrieved from Pay Simple: https://paysimple.com/blog/the-advantages-of-using-
electronic-checks-for-your-business/

Yahid, B. (2014). Trust in E-Cheque in Electronic Payments. New Marketing Research

Journal.

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