Draw a diagram illustrating the relationship between the customer, the customer’s bank, the merchant and the merchant’s bank in a typical offline cash transaction. Then draw a diagram using an electronic cash payment system to illustrate these relation- ships.

What will be an ideal response?


a) The Traditional Payment:











In a traditional payment a consumer draws from an account at a bank to make a payment to the merchant. This is often


done by check or credit card. Once the payment is made, the merchant must then deposit the payment in their account.





b) Electronic Cash Payment System:











One of the most popular methods of electronic payment is with an e-wallet. In this system, a customer opens an e-wallet


account with a bank (often the same bank as the merchant) and transfers funds with the merchant’s bank. This secure


system allows customers to make purchases without the use of cash, check or credit card.


Computer Science & Information Technology

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