Write down the difference between electronic cheque and paper cheque?
Write down the difference between electronic cheque and paper cheque?
Jeeba Aug. 11, 2018
An e-cheque is a cheque generated electronically and issued by a person without using paper.
An electronic cheque can be protected against any fraud by encoding sender’s account number with the bank’s public key thereby not revealing the sender’s account number to the merchant. As with the SET protocol, digital certificates can be used to authenticate the payer, the payer’s bank, and bank account.
However, no such encoding of sender’s account number is possible in case of paper cheque. E-cheque are faster and more convenient than paper cheque. It is environmentally friendly too.
