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Chapter XIII. From Cash to E-Money: Paym... > Discussion and Conclusion

Discussion and Conclusion

Although different electronic payment methods are available in Australia, educating consumers and business partners is necessary, especially in smaller organizations to build their confidence and intensify electronic trade. Electronic commerce will be enhanced if the users know that the electronic transaction is secure, that orders and payments can be traced and that it is cost effective (Singh, 2000).

As more organizations adopt e-payment methods it is important to ensure that these also work within the framework of the companies’ existing banking relationships and systems infrastructure. This, as the many banks trying to develop their own Internet payment systems have found, is one of the keys to widespread adoption (Walsh, 2001). Proprietary, bank-specific payment systems require both seller and purchaser to have relationships with the host bank. However, this is rarely the case, and it is unlikely that a business will create a new account at a different bank simply to take advantage of a new way to pay. “A successful online payment system should be bank-neutral, with the system’s host service taking ownership of the bank relationship” (Walsh, 2001, p. 34). All customers and business partners of an organization should be able join the network simply and easily, with their existing bank accounts.


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