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Electronic bill payment is a feature of online, mobile and telephone banking, similar in its effect to a giro, allowing a customer of a financial institution to transfer money from their transaction or credit card account to a creditor or vendor such as a public utility, department store or an individual to be credited against a specific account.
Your billing zip code, or credit card postal code, is the five-digit number on the bottom right, which in this sample is 90210. This would be the zip code associated with your billing address.
For example, in the United States financial institutions typically formally prohibit the use of their consumer electronic bill payment systems for payments to certain agencies such as: collection agencies, or recipients of court-ordered payments like child support or alimony.
On the other hand, depopulation may cause a post office to close and its associated ZIP Code to be deallocated. For example, Centralia, Pennsylvania's ZIP Code, 17927, was retired in 2002, [32] and ZIP Codes for Onoville (14764), Quaker Bridge (14771) and Red House (14773) in New York were prevented from going into use in 1964 in preparation ...
There are varied types of electronic payment methods such as online credit card transactions, e-wallets, e-cash and wireless payment system. [5] Credit cards constitute a popular method of online payment but can be expensive for the merchant to accept because of transaction fees primarily. Debit cards constitute an excellent alternative with ...
If an intermediary is present, then the sale and purchase transaction is called consumer-to-consumer, such as an online auction conducted on eBay.com. This payment system has been widely accepted by consumers and merchants throughout the world, and is by far the most popular method of payments especially in the retail markets. [1]
Depending on the issuing bank and the preferences of the client, this may allow the card to be used as an ATM card, enabling transactions at automatic teller machines; or as a debit card, linked to the client's bank account and able to be used for making purchases at the point of sale; or as a credit card attached to a revolving credit line ...
Nearly half of the bills paid in the US during 2013 were done via electronic bill payment. [4] Also, during 2014, nearly 48% of all online shopping in North America were made with a credit card. Globally, online payments are expected to exceed 3 trillion Euros (approx. US$3.2 trillion) in the next 5 years. [5]