E-banking and online payment, based on the case of China
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E-banking and online payment, based on the case of China - Shopping - Electronics
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Home Submit Articles Author Guidelines Publisher Guidelines Content Feeds RSS Feeds FAQ Contact Us E-banking and online payment, based on the case of ChinaWhat is e-banking?E-banking includes familiar and relatively mature electronically-based products indeveloping markets, such as telephone banking, credit cards, ATMs, and direct deposit.It also includes electronic bill payments and products mostly in the developingstage, including stored-value cards (e.g., smart cards/smart money) and Internetbasedstored value products.Payment Methods and Security Concerns: The Case of ChinaIn China, while banks issue credit cards and while many use debit cards to draw directlyfrom their respective bank accounts, very few people use their credit cards for onlinepayment. Cash-on-delivery is still the most popular mode of e-commerce payment. Nonetheless,online payment is gaining popularity because of the emergence of Chinapay and CyberBeijing, which offer a city-wide online payment system.geminideal.com is one of the most popular and promising b2c website in China. It is the success ful example of secure online payment and perfect after-sales service. They has developed their own payment system as ecpss online credit payment gateway as well as paypal payment. They guarantee generous 60 refunding days and worldwide free shipping in 7 days .What is the status of e-banking in developing countries?E-banking in developing countries is in the early stages of development. Most bankingin developing countries is still done the conventional way. However, there is anincreasing growth of online banking, indicating a promising future for online bankingin these countries. Below is a broad picture of e-banking in three ASEAN countries.The Philippine ExperienceIn the Philippines, Citibank, Bank of the Philippine Islands (BPI), Philippine NationalBank, and other large banks pioneered e-banking in the early 1980s. Interbanknetworks in the country like Megalink, Bancnet, and BPI Expressnet were amongthe earliest and biggest starters of ATM (Automated Teller Machines) tech nology.BPI launched its BPI Express Online in January 2000. The most common onlinefinancial services include deposits, fund transfers, applications for new accounts,Stop Payment on issued checks, housing and auto loans, credit cards, and remittances.The Singapore ExperienceIn Singapore, more than 28% of Internet users visited e-banking sites in May 2001.36Research by NetValue (an Internet measurement company) shows that while thenumber of people engaging in online banking in Singapore has increased, the averagetime spent at sites decreased by approximately four minutes from March2001 to May 2001. This decline can be attributed to the fact that more visitorsspend time completing transactions, which take less time than browsing differentsites. According to the survey, two out of three visitors make a transaction.All major banks in Singapore have an Internet presence. They offer a wide range ofproducts directly to consumers through proprietary Internet sites. These banks havesh ifted from an initial focus on retail-banking to SME and corporate banking productsand services.Among the products offered are: Fund transfer and payment systems; Integrated B2B e-commerce product, involving product selection, purchaseorder, invoice generation and payment; Securities placement and underwriting and capital market activities;
Securities trading; and Retail banking.The Malaysian ExperienceE-banking in Malaysia emerged in 1981 with the introduction of ATMs. This wasfollowed by tele-banking in the early 1990s where telecommunications devices wereconnected to an automated system through the use of Automated Voice Response(AVR) technology. Then came PC banking or desktop banking using proprietarysoftware, which was more popular among corporate customers than retail customers.On June 1, 2000, the Malaysian Bank formally allowed local commercial banks tooffer Internet banking services. On June 15, 2000, Maybank (www.maybank2U.com),one of the largest banks in M alaysia, launched the country's first Internet bankingservices. The bank employs 128-bit encryption technology to secure its transactions.Other local banks in Malaysia offering e-banking services are Southern Bank,Hong Leong Bank, HSBC Bank, Multi-Purpose Bank, Phileo Allied Bank and RHBBank. Banks that offer WAP or Mobile banking are OCBC Bank, Phileo Allied Bankand United Overseas Bank.The most common e-banking services include banking inquiry functions, bill payments,credit card payments, fund transfers, share investing, insurance, travel, electronicshopping, and other basic banking services.37What market factors, obstacles, problems and issues are affecting the growth of ebankingin developing countries?Human tellers and automated teller machines continue to be the banking channelsof choice in developing countries. Only a small number of banks employInternet banking. Among the middle- and high-income people in Asia questionedin a McKinsey survey, only 2.6% reported bankin g over the Internet in 2000. InIndia, Indonesia, and Thailand, the figure was as low as 1%; in Singapore andSouth Korea, it ranged from 5% to 6%. In general, Internet banking accounted forless than 0.1% of these customers' banking transactions, as it did in 1999. TheInternet is more commonly used for opening new accounts but the numbers arenegligible as less than 0.3% of respondents used it for that purpose, except inChina and the Philippines where the figures climbed to 0.7 and 1.0%, respectively.This slow uptake cannot be attributed to limited access to the Internet since 42% ofrespondents said they had access to computers and 7% said they had access tothe Internet. The chief obstacle in Asia and throughout emerging markets is security.This is the main reason for not opening online banking or investment accounts.Apparently, there is also a preference for personal contact with banks.
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Geminideal is an American online retailer of gadgets and accessories ranging from computers and electronics to cell phones and video games. It outsells its competitors because it provides high quality goods at the lowest prices. It offers its customers a generous 30 day return policy and provides instant refunds for damaged items
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How to prepare for Bank Exams - Careers - Career Management
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Home Submit Articles Author Guidelines Publisher Guidelines Content Feeds RSS Feeds FAQ Contact Us Recently there was global meltdown, initially started with sub-prime crisis and subsequent collapse of financial and banking sector of USA, which led to shut down of major banks in USA and there raised a sort of unrest ,resulted in massive job cuts in private sector especially software field in which we are most dependent on overseas projects. All these consequences created a notion in people that there is no job security in recent times.In spite of all these major things happening Banking Sector in India stayed robust. Now a day's banks went global and started operating in various branches around the world. The modern computerized techniques used in banking operations reduced the risk of making mistakes for the employees; in calculations, counting and maintaining data of different customers of the bank. Bank Probationary Officers as well as Bank Clerical jobs emerged as lucrative careers. Especially at this time of turbulence; bank jobs in public sector seem to be a s afe bet. Bank jobs not only provide us good salaries but also provide us good social status.Atleast above 70% would be a fairly good score. Applicants with commerce, financial and Math background have more chances for success rather than applicants with other backgrounds.How to get Information about the JobsAs Jobs in the bank have been declared by the banks very frequently at this point of time, the aspirants are advised to visit the websites of respective banks for the upcoming bank exams section frequently, to check recruitment of bank Probationary Officers or Bank Clerks. Also visit various other sections of the website to know tips on how to prepare for bank exams, how to prepare for interviews, group discussions and written part of the bank exams. You can also visit various other links to know about the job, salaries, perks, roles & responsibilities of bank jobs. State Bank of India, the largest bank of the country, having wide network of branches in India & ab road has announced another massive recruitment exercise. This time the bank has announced 1000 vacancies of Probationary Officers.Punjab National Bank which is one of the leading public sector banks of the country has declared massive recruitment. The bank is having more than 5000 branches spread over all parts of the country. The bank has announced one of its biggest recruitment exercises of 6428 Clerks.Information of few useful BooksMagical Book Series: Money, Banking & Finance by N.K. SinhaThis is a very useful book for the preparation of banking interviews and reasonably priced. You will find lots of information in this book on banking and financial environment, important concepts, terminology, financial institutions, important policies etc. The book is covering most of the information on which questions are generally asked in banking interviews.Apart from these books you should also take help from "Competition Success Review" which is such a good book for the prepar ation of interviews. Also refer to the section on "Interview preparation" in this website for some very useful tips and methods.Basic eligibility for bank exams: Age to be between 18 - 28 yrs, as on 01.01.2011; little variations may be there from bank to bank.Completion of a Degree (any discipline) from a recognized university is a must.Able to read/write & speak in languages mentioned by the banks that are recruiting; most commonly must be fluent in English & Hindi (sometimes local language of the place where the bank is located).Knowledge in computer operations is required in most of the banksAfter passing all the eligibility criteria and applying for the examinations. A Common Written Examination (CWE) will be conducted by the Institute of Banking Personnel Selection (IBPS) as a pre-requisite for selection of personnel for Probationary Officer/ Management Trainee posts/Bank clerks in the Public Sector BanksPattern of the Common Written Examination for PO'sSelectio n of PO's is made on the basis of performance in written test and interview. Sometimes group discussions are also included in selection process. The pattern of the written test is more are less similar in all the public sector banks. The written test includes objective and descriptive type of questions.The candidates shall be required to qualify in each objective test as per the cut-off marks determined by individual banks. For wrong answers there is provision for the negative marking which is normally 1/4th i.e. one marks will be deducted for four wrong answers.Objective tests include Test for general awareness, Test for English, Test for quantitative Aptitude and Test for reasoning. The test lasts for the duration of nearly 2 hrs and for 200-225 marks, 50 marks for each subject roughly, conducted in English and Hindi languages. Bank Clerical exams have Clerical Aptitude test in some of the banks.Descriptive test include of 4 questions out of which the candidates are requir ed to attempt 3 questions only. The test will be of 60 marks (i.e. 20 marks for each question). The test will be only qualifying and the marks obtained therein shall not be reckoned for preparing the merit list. The candidates shall have the option to answer the descriptive test either in English or Hindi. Selected candidates in the written test are called for interview and Group Discussion.This is the General pattern of Bank PO Exams, however now-a-days each bank is coming up with slight difference in the pattern of exam. So, better keep a check on exact pattern for coming exams on an ongoing basis.Preparation tips for Bank ExamsWriting the bank exams with short term preparation at the moment of the exam does not workout. Serious preparation at least eight months before is needed. For an aspirant who is willing to get success in bank exams right strategy, planning and approach are essential for preparing. If you succeed in choosing a right approach and right study material to read half of your job is done. As these examinations are completely different from school and college examinations; we are supposed to get minimum qualifying marks in each section. We have to work on some basic and crucial concepts and should manage to get best study material available in the market.First we have to prioritize all the sections of the test according to good scoring possibility; in the priorities reasoning should be on the top of the list, then follow General awareness, Quantitative aptitude and English respectively. English is just qualifying exam; so you can just attempt all the questions just to qualify. Before appearing the exam know whether English is qualifying or marks are counted. General awareness is an easy scoring subject (you can score more than 80%).This consists of mainly current affairs and happenings in India and around the world, in the past 6-8 months. You need to devote some time on regular basis reading current affairs from different New s Papers and magazines and keep yourself current. Quantitative Aptitude part is a general and basic math which is not very hard. The only thing is you need a lot of practice on regular basis and exact and thorough understanding of the concepts clearly. Practice should be in such a way that you answer the questions in an accurate and quick manner. The most crucial and the part on which your success depends is Reasoning test. This is the toughest part of the exam for most of the aspirants. You should understand the concepts and solve the old model papers and it will be more useful if you solve more and more questions; because more or less similar questions based on certain concepts appear in most of the PO's question papers.Descriptive part don't require more preparation, because any fairly good student can answer this part and more over it is only a qualifying exam. Most of the aspirants qualify in this exam very easily; so nothing to worry about.Time management in the Exam E ven though you know all the answers and solutions for all the questions; if you can't solve them in given time it is of no use. Therefore, presence of mind and time management are major Keys for your success. In quantitative aptitude and reasoning right from the beginning of practice, make it a habit to solve with in certain time limit. Rigorous practice not only improves your accuracy; but also accelerates your speed in arriving at genuine and correct solutions.Most of your success depends on how you divide the time between different sections. Generally English and General awareness do not require more time, because most of the questions are direct and do not require more thinking or analysis. So, try to complete both the sections within 30-40 min maximum. The more time you save in both these sections can be used in solving other two sections. It is good to contribute 35-40 min; quantitative aptitude has direct application of shortcuts and formulas; which can be achieved by more practice. Maximum time of 60 min or more can be contributed to Reasoning test; because it needs logical and analytical thinking.Time management gives you competitive advantage over the other aspirants, who are attempting the same exam. More over time management is always useful in all aspects of your life; may it be your career or any occasion. You will learn proper use of time; so that you will not be wasting your precious time on unnecessary things and this in turn helps you in prioritizing things.ScoresIf you really prepare well you can easily score 85% and above in math and general awareness and 80% is good percentage in reasoning test. If you get 70% you will have fairly good chances for an interview call and if you score overall 80%, you will definitely get an interview call.
Preparation for Interviews and Group discussion:
The aspirants have to prepare well ahead of time for interviews and group discussions; because it requires a good command over co mmunication skills. Immense and regular practice makes you well worse in these aspects and no doubt improve your communication skills.Few tips for interview: Keep specific answers for all the generally asked questions. Dress in a proper formal manner, look and be polite, answer in more pleasing and confident manner.Some of the commonly asked questions in the interview:Tell me about yourself?Why do you want to enter banking?What significant trends do you see in the future in Banking Industry?Explain how you would be an asset to this organization or why should we select you for this position?What is your greatest strength and greatest weakness?Do you think you are overqualified for this position?Few tips for Group discussions: Here are few tips which give you cutting edge in group discussions as compared to other aspirants. Group discussion should be done in a very careful manner; because it is the way to test your communication skills, Leadership skills and your ability to wo rk in teams.
Be polite with a slight smile on your face; have a positive approach over the topic you are speaking, this gives a good impression to the evaluators.
Initiating the discussion gets you an edge over others; but never ever initiates the discussion if you are not comfortable with the topic.
Do not speak in a hasty manner. Be, a good listener during the course of discussion. If you pay attention on what others are speaking, you can build upon the discussion and you can express your own views on the topic and you can even try concluding the topic. This builds up your image in the view of evaluators.
Be cool and never get indulged into arguments. If at all any arguments arise in due course accidentally; pacify them in a more matured manner by putting forth genuine views , so that other aspirants are soothingly persuaded.
If you prepare well in this sequence it is easy to crack the bank exams and come out in flying colors.
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Wisdom Jobs is a unique 4th generation job portal in India. For job search and knowledge acquirement. The outstanding products of Wisdom jobs, Pragnya Meter and e-University will facilitate the job seeker in achieving his goal.
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