by Dinesh Thakur Category: E Commerce

Customers pay for merchandise (Goods) by writing an electronic check that is transmitted electronically by email, fax or phone. The "cheque" is a message that contains all of the information that is found on an ordinary cheque, but it is signed digitally, or indorsed.

 

The digital signature is encoded by encrypting with the customer’s secret key. Upon receipt, the merchant or "payee" may further indorse by encoding with a private key. When the cheque is processed, the resulting message is encoded with the bank’s secret key, thus providing proof of payment. Various companies are selling Electronic Check software and services

 



About Dinesh Thakur

Dinesh ThakurDinesh Thakur holds an B.SC (Computer Science), MCSE, MCDBA, CCNA, CCNP, A+, SCJP certifications. Dinesh authors the hugely popular blog. Where he writes how-to guides around Computer fundamental , computer software, Computer programming, and web apps. For any type of query or something that you think is missing, please feel free to Contact us.