IMPLEMENTATION OF ECHEQUE SECURITY SYSTEM

ABSTRACT

E-cheque technology was developed couple of years ago & has been promoted by many of financial institutions. E-cheques work same way as paper cheques & area legally binding promise to pay.  Payer/account holder writes e-cheque using computer & transmits e-cheque to payee electronically. E-cheques are affixed with digital signatures. In order to complete a transaction buyer sends a cheque to seller for a particular amount of money. These cheques might be sent using Email or other transport methods. Customers should check their banking records carefully for unknown or unauthorized transactions. Cryptographic signatures on every e-cheque could be verified at all points. It reduce costs, minimize risk & get faster access to your   money  by converting paper checks into electronic transactions right at  point of sale.

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