|
THE
CONCEPT OF NETBANKING
The Internet revolution is changing the way we communicate
and interact with the world around us. The medium of
the net has opened up new vistas in commerce and banking
and monetary transactions are done at the speed of light.
E-commerce is the mantra of the young, urban, upwardly
mobile professional, who makes things happen at the
click of a mouse. Nowadays, it's common to transact
and do business on the net by using one's credit card.
 Ever
wondered what happens when you punch in your credit
card number on an internet website? Your credit card
number travels to the site where somebody at the back-end
receives the number, then punches it into an EDC terminal
for approval from VISA and MasterCard. Because of the
manual intervention, there is a risk of fraud, as the
credit card number could be misused. Anybody who has
access to your credit card number could order goods
on any other site and you end up paying for it. Furthermore,
the manual procedure makes the system slow in terms
of the response time authorisation.
HDFC Bank launches India's first
secure, online, real-time Internet Payment Gateway
The concept of Virtual banking or Internet
banking was introduced in 1994. Now, HDFC Bank, for
the first time in India, has made the e-shopping experience
secure, on-line and real time with the launch of its
payment gateway in May 2000. This will allow any Visa/Master
Credit Card holder anywhere in the world to make payments
for global services over the Internet. If you enter
your credit card number on this gateway, not only does
the credit card number travel in a secure mode to the
site, but also all the way to Visa and back to the site
instantly, automatically, without the credit card number
being visible to the shopping site or anybody else.
NET BANKING
HDFC has launched Depository Services on the Net,
by which retail banking customers having a depository
account with them can now view their accounts through
Net Banking. To avail this facility, the customer will
have to submit a form for getting his accounts registered
to his customer ID. This service will be extended for
all the accounts, where the Net Banking customer is
the first / sole account holder in the Depository. The
facilities that the investor can avail of through the
net for depository services would include the following
:
- Holdings
as on the close of the last business day.
- Transactions
for the last seven days.
- Demat
status of the shares submitted for demat in the last
one month.
- Account
holders profile.
- ISIN
search to know the ISIN for a particular company.
- CC
Calendar to know the various settlement details on
various exchanges.
Netbanking customers can transfer funds from any of
their accounts to any Third Party account anywhere in
the Bank. Transfers will be effected on an ONLINE and
REALTIME basis. No more hassles of issuing outstation
cheques / demand drafts, etc., to other account holders
of the Bank. HDFC Bank's BillPay
facility allows you to pay your utility & cellular
phone bills on the net from anywhere in the world, anytime.
Log on to the HDFC Bank website, select the bill payment
option & the company for which you have to pay the
bill. Enter in the bill amount you have to pay &
confirm. Your account will be automatically debited
& payment made to the respective billing company
the next working day.
HDFC Bank offers a new concept called Mobile Banking
in association with Orange in Mumbai and Essar and AirTel
in Delhi. A revolutionary new service, it enables you
to access your HDFC Bank account from your cellular
phone. This service works on the SMS message (Text Message)
function available on the mobile phone and is supported
by their NetBanking infrastructure. You can conduct
the following transactions using your mobile phone:
| Balance
Enquiry |
Last
3 transactions |
Account
Statement Request
|
| Cheque
Book Request |
Stop
Cheque Request |
Set
Operative Account |
| FD
Inquiry |
Cheque
Status |
Bill
Pay |
 All
transactions, barring the balance enquiry, are conducted
on your operative account, which is the account you
select. The balance enquiry transaction operates on
all accounts linked to your customer ID. Customers in
Mumbai are offered Mobile Commerce for the first time
in India. If you are a resident of Mumbai, you can access
your HDFC Bank account and conduct financial transactions
on your mobile phone screen. To use Mobile Commerce,
open a Savings Account and register for the Mobile Commerce
and BillPay services. This facility offers to pay your
electricity and mobile phone bills, enquire about pending
bills of companies that you have registered under the
BillPay facility, check the balance in the fixed deposits
linked to your customer ID, etc.
For any further clarifications, please get in touch
with the local depository service providing branch or
drop a mail at dphelp@hdfcbank.com
or visit their site www.hdfcbank.com
|
Trade
and Commerce
