MASANGCAY CRISTINE P.

GLOBAL FINANCE & E-BANKING

BSBA-4A MRS.JOCELYN MARIN

Simply define and explain the following important terms:

1. E-finance- it is a financial transaction using the internet and technologies where an individual can use
it for payments and or other online transactions.
2. PIN- known as PERSONAL IDENTIFICATION NUMBER. Is a security code for the validation of
your specification? Like a password, your PIN should be hidden because it allows access to important
services such as financial transactions.
3. EFT- also known as ELECTRONIC FUND TRANSFERS. It is use by technology wherein you can
access your account or by transferring.
4. SWIFT- Society for Worldwide Interbank Financial Telecommunications it can transfer financial
messages in a highly secure way.
5. ATM- stands for AUTOMATED TELLER MACHINE an electronic banking that enables individuals
to make banking transactions without the help of a real teller.
6. EFTPOS- is ELECTRONIC FUNDS TRANSFER AT POINT OF SALE allows to with draw cash
from your account without the need to visit a branch. Also for you to pay for goods without
the need to carry cash.
7. Credit cards- it is issued by financial institution which allows you to buy something with a credit card
to pay for it.
8. Debit/Savings/ATM/cash card- If you have a checking account, you almost certainly have a type of
cash card called a debit card. However it is a payment card that allows you to pay for items with money
stored on it or sometimes withdraw cash from an ATM.
9. Internet banking- allows you to conduct bank transactions online, instead of finding a bank and
interacting with a teller.
10. SMS Banking- for you to kept update on important information on your account by SMS alerts also
to account transfer and check balance.
11. Fraud- is a form of identity theft and is often made possible through techniques such as phishing.
12. Phishing- is requires user to manually click a link to activate code also, a type of data theft that
involves people unknowingly volunteering their personal information to a bad actor.
13. Pharming- It is automatically redirects without requiring users to click a link and redirecting website
traffic through hacking.
14. Security- Screen firewall data incoming and outgoing computer networks, blocking unauthorized
access and stopping traffic from unsafe internet sources
15. Secrecy- it is ensuring security while banking online is to keep your password and pin number a
secret.