(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

Step 1: Login to net banking account using unique user name and password provided by the bank earlier.
Step 2: Add the beneficiary as a payee to enable transfer of fund. The following details like Account Number, Name, IFSC about the beneficiary' are to be filled in the 'Add New Payee'section.
Step 3: Once the beneficiary is added, choose RTGS/ NEFT/ IMPS as mode of Fund Transfer.
Step 4: Select the account to transfer money from, select the payee, enter the amount to be transferred and add remarks (optional).
Step 5: Click on submit.
Step 6: Enter the OTPreceivedto mobile number linked to the corresponding account to complete the transaction.

(i) Contact smart cards
1. Contact smart cards have a contact area of approximately 1 square centimeter, comprising several gold plated contact pads.
2. These pads provide electrical connectivity only when inserted into a reader, which is also used as a communications medium between the smart card and a host. e.g. a point of sale terminal(POS).
(ii) Contactless smart cards
1. Contactless smart card is empowered by RF induction technology.
2. Unlike contact smart cards, these cards require only near proximity to an antenna to communicate.
3. Smartcards, whether they are contact or contactless cards do not have an internal power source.
4. Instead, they use an inductor to capture some of the interrupting radio-frequency signal, rectify it and power the card's processes.

1. Credit card number: The modern credit card number has 16-digit unique identification number.
2. The first digit of the credit card number is Major Industry Identifier (MII).
i) It identifies the issuer category.
ii) e.g. 1 - Airlines,4 - Banks
3. The next 5 digits uniquely identify the issuing organization
4. The first 6 digits together called as Issuer Identifier number (IlN) or Bank Identification number (BIN).
5. The next 9 digits are the account number.
6. The last digit is a check digit (based to the Luhn algorithm).

1. Most credit cards are accepted worldwide.
2. It is not necessary to pay physical money at the time of purchase.
3. The customer gets an extra period to pay the purchase.
4. Depending on the card, there is no need to pay annuity.
5. Allows purchase over the Internet in installments
6. Some issuers allows "round up" the purchase price and pay the difference
7. In cash to make the transactions easy