1. The cryptocurrency units are created by the solution of cryptographic tasks called mining.
2. The miners not only generate new monetary units, but also initiate new transactions to the block chain.
3. As a reward, they will receive new Bitcoins. In terms of trade, the creation of cryptocurrencies may be related to the ICO (Initial Coin Offer) procedure, i.e. the ICO, aimed at gathering the initial capital necessary for the further development of the system.
4. The initial value of cryptographic currency is just the cost of consumed electricity. The secondary value is determined by the demand for the cryptocurrency.

Stored value card is a type of debit card that is pre-loaded with certain amount(value), with which a payment is made. It is a card that has default monetary value onto it. The card may be disposed when the value is used, or recharged to use it again. The major advantage of stored value card is that customers don't need to have a bank account to get prepaid cards. There are two varieties for stored value card.
(i) Closed loop (single purpose) Eg: Chennai metro rail travel card.
(ii) Open loop (multipurpose) Eg.: Visa gift cards.

All Payment cards (including debit card) are usually plastic cards of size 85.60 mm width x 53.98 mm height, rounded corners with a radius of 2.88 mm to 3.48 mm and thickness of 0.76 mm. These standards dimensions are maintained universally in accordance with ISO/IEC 7810#ID-1.
(i) Publisher
(ii) Credit card number
(iii) Name of the card holder
(iv) EMV chip
(v) RFID symbol
(vi) Expiration month and year
(vii) Card brand logo
(viii) Magnetic stripe
(ix) Hologram
(x) Signature
(xi) CVC/CVV

No	Basic	Debit card	Credit card
1.	Transaction limit	Associated with your account.	Work as a short term borrowing instrument.
2.	Repayment requirement	No repayment required.	Repayment of used fund with in stipulated period.
3.	Penalty	No Penalty	Interest after due date and penalty on new payment.
4.	Credit score	Does not impact credit score.	Over dues, non payment and dues settlement can negatively impact the credit score.
5.	EMI facility	You can't buy items on EMI.	You can buy items on EMI.

(i) It is an online payment system designed to allow efficient and frequent payments of small amounts.
(ii) The majority of micro electronic payment system were designed to pay for simple goods on the Internet. e.g., subscriptions of online games, read journals, listen to a song or watch a movie online etc.
(iii) In general, the parties involved in the micro on-line payments are Customer, Service Provider and Payment processor.

Unified Payments Interface:
(i) Unified Payments Interface (UPI) is a real-time payment system developed by National Payments Corporation of India (NCPI) to facilitate inter-bank transactions. It is simple, secure and instant payment facility.
(ii) This interface is regulated by the Reserve Bank of India and used for transferring funds instantly between two bank accounts through mobile (platform) devices. http://www.npci.org.in/
(iii) It also provides the "peer to peer" collect request which can be scheduled and paid as per requirement and convenience.
(iv) UPI is developed on the basis of Immediate Payment Service (IMPS). To initiate a transaction, UPI applications use two types of address - global and local.

• Global address includes bank account numbers and IFSC.
•  Local address is a virtual payment address.

(v) Virtual payment address (VPA) also called as UPI-ID, is a unique ID similar to email id (e.g. name@ bankname) enable us to send and receive money from  banks.
(vi) The bank or the financial institution allows the customer to generate VPA using phone number associated with Aadhaar number and bank account number. VPA replaces bank account details thereby completely hides critical information.
(vii) The MPIN (Mobile, banking Personal Identification number) is required to confirm each paymernt.
Advantages :
(i) Immediate money transfers through mobile device round the clock 24 x 7.
(ii) Can use single mobile application for accessing multiple bank accounts
(iii) Single Click Authentication for transferring of fund.
(iv) It is not required to enter the details such as Card no, Account number, IFSC etc. for every transaction.
(v) Electronic payments will become much easier without requiring a digital wallet or credit or debit card.

1. A cryptocurrency is a unique virtual (digital) asset designed to work as a medium of exchange using cryptographic algorithm.
2. This algorithm secures the transactions by recording it in blockchain and controls the creation of additional units of the currency.
3. Cryptocurrency is also called as cryptocoins, e-cash, alternative currencies or virtual currencies and are classified as a subset of digital currencies.
4. The function of cryptocurrency is based on technologies such as Mining, Blockchain, Directed Acyclic Graph, Distributed register (ledger), etc. The information about the transaction is usually not encrypted and is available in clear text.
5. The term "cryptocurrency" began to be used after the appearance of the Bitcoin. Bitcoin is the most popular and the first decentralized cryptocurrency. Bitcoin payment system, was developed in 2009 by an unknown person or a group under the pseudonym "SatosiNakamoto".
6. Currently, more than 1300 cryptocurrencies are listed over 200 special cryptocurrency stock exchanges. Most (not all) are based on different types of blockchain technology.
7. Many cryptocurrencies operate on the basis of the same source code, in which the authors make only a few minor changes in parameters like time, date, distribution of blocks, number of coins, etc. These currencies are called as fork. In fork, both cryptocurrencies can share a common transaction history in blockchain until the split.
8. Altcoins is the collective name for all cryptocurrencies that appeared after Bitcoin. The early Altcoins, Litecoin and Namecoin appeared in 2011. Their miners sought to overcome a number of problems inherent in Bitcoin (for example, Litecoin has a higher transaction rate) or use blockchain technology in other areas
9. Many altcoins are inherently very similar to Bitcoin in characteristics and structure.
10. The cryptocurrency units are created by the solution of cryptographic tasks called mining.
11. Blockchains are an open distributed book that records transactions of cryptocurrencies between any two parties in an efficient and verifiable manner.

(a) Internet banking:
(i) Internet banking is a collective term for E-banking, online banking, virtual banking (operates only on the Internet with no physical branches), direct banks, web banking and remote banking.
(ii) Internet banking allows customers of a financial institution to conduct various financial transactions on a secure website operated by the banking institutions.
(iii) This is a very fast and convenient way of performing any banking transactions.
(iv) It enables customers of a bank to conduct a wide range of financial transactions through its website. In fact, it is like a branch exclusively operating of an individual customer.
(v) The online banking system will typically connect to the core banking system operated by customers themselves (Self-service banking).
(b) Mobile banking:
(i) Mobile banking is another form of net banking.
(ii) The term mobile banking (also called m-banking) refers to the services provided by the bank to the customer to conduct banking transactions with the aid of mobile phones.
(iii) These transactions include balance checking, account transfers, payments, purchases, etc. Transactions can be done at anytime and anywhere.
(iv) The WAP protocol installed on a mobile phone qualifies the device through an appropriate application for mobile session establishment with the bank's website.
(v) In this way, the user has the option of permanent control over the account and remote management of his own finances.
(vi) Mobile Banking operations can be implemented in the following ways:
Contacting the call center.
 Automatic IVR telephone service.
 Using a mobile phone via SMS.
 WAP technology.
 Using smartphone applications.

Apart from card based payment systems there are many alternative electronic payment systems. With the advent of computers, network technologies and electronic communications a large number of alternative electronic payment systems have emerged. These include ECS (Electronic Clearing Services), EFT (Electronic funds transfers), Real Time Gross Settlement system (RTGS) etc. These Electronic Payment systems are used in tendering cash in domestic and international transactions.
Electronic Clearing Services (ECS):
Electronic Clearing Service can be defined as repeated transfer of funds from one bank account to multiple bank accounts or vice versa using computer and Internet technology. The payer instructs the bank to debit from his bank account and credit it to one or more payee bank account provided amounts and dates of the payments earlier. This system provides the convenience of paperless payments. ECS can be used for both credit and debit purposes i.e. for making bulk payments or bulk collection of amounts.
Electronic Funds Transfer:
Electronic Funds Transfer (EFT) is the "electronic transfer" of money over an online network. The amount sent from the sender's bank branch is credited to the receiver's bank branch on the same day in batches. Unlike traditional processes, EFT saves the effort of sending a demand draft through post and the inherent delay in reaching the money to the receiver. Banks may charge commission for using this service. EFT is a widely used method for moving funds from one account to another in B2B business models.
Real Time Gross Settlement:
Real Time Gross Settlement System (RTGS) is a payment system particularly used for the settlement of transactions between financial institutions, especially banks. As name indicates, RTGS transactions are processed at the realtime. RTGS payments are also called as push payments that are initiated ("triggered") by the payer. RTGS payments are generally large-value payments, i.e. high-volume transactions.
Real-time gross settlement transactions are:
Unconditional: the beneficiary will receive funds regardless of whether he fulfills his obligations to the buyer or whether he would deliver the goods or perform a service of a quality consistent with the order.
Irrevocable: a correctly processed transaction cannot be reversed and its money cannot get refunded (the so-called settlement finality).

Credit card is an electronic payment system normally used for retail transactions. A credit card enables the bearer to buy goods or services from a vendor, based on the cardholder's promise to the card issuer to payback the value later with an agreed interest. Every credit card account has a purchased limit set by the issuing bank or the firm. A credit card is different from a debit card where the credit card issuer lends money to customer instead of deducting it from customer's bank account instantly.
Key players in operations of credit card:
Bearer: The holder of the credit card account who is responsible for payment of invoices in full (transactor) or a portion of the balance (revolver) the rest accrues interest and carried forward.
Merchant: Storekeeper or vendor who sell or providing service, receiving payment made by its customers through the credit card.
Acquirer: Merchant's bank that is responsible for receiving payment on behalf of merchant send authorization requests to the issuing bank through the appropriate channels.
Credit Card Network: It acts as the intermediate between the banks. The Company responsible for communicating the transaction between the acquirer and the credit card issuer. These entities operate the networks that process credit card payments worldwide and levy interchange fees.
E.g. Visa, MasterCard, Rupay
Issuer: Bearer's bank, that issue the credit card, set limit of purchases, decides the approval of transactions, issues invoices for payments, charges the holders in case of default and offer card- linked products such as insurance, additional cards and rewards plan.
Advantages of credit card:
1. Most credit cards are accepted worldwide.
2. It is not necessary to pay physical money at the time of purchase. The customer gets an extra period to pay the purchase.
3. Depending on the card, there is no need to pay annuity.
4. Allows purchases over the Internet in installments.
5. Some issuers allows "round up" the purchase price and pay the difference in cash to make the transactions easy.