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Electronic Clearing System (ECS)
written 6.3 years ago by gravatar for teamques10 teamques10 ★ 70k modified 3.7 years ago by gravatar for pedsangini276 pedsangini276 • 4.8k
ecommerce and ebusiness
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written 6.3 years ago by gravatar for teamques10 teamques10 ★ 70k

(a) ECS Credit

In ECS Credit, a series of electronic payment instructions are generated to replace paper instruments. The system works on the basis of one single debit transaction triggering a large number of credit entries. These credits or electronic payment instructions which possess details of the benef‌iciary's account number, …

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