Alternative marketing thinking

iCONTRACT

Putting A Price On Payment Options

Safety of a bank account is the primary concern for central banks. Next in line is the efficiency of the payment system. Electronic payment options are not just cheaper but far more convenient. Norway explicitly priced point-of-sale and bill-payment transactions and rapidly shifted to electronic payments, while the Netherlands experienced a similar shift without pricing. Electronic payments can confer social benefits considering the fact that the average bank cost of an electronic payment is one-third to one half that of its paper-based equivalent or cash. Also, a merchant’s average cost of accepting a bill payment electronically over a giro network or at the point of sale (POS) is also lower. This may be the next thing to be introduced in the banking industry soon. Read more.

Advertisements

Single Post Navigation

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: