Checks are closer to cash than to credit cards, because peer-to-peer transfers are possible
Micro-payments are possible but banks are reluctant to process them (high cost of check clearance)
CyberCash, NetCheck, and others offer digital checks which are transferable between individuals
A customer opens an account in a netbank and issues an electronic check to pay a bill
The recipient of this digital check sends it to the netbank to confirm and cash it
Security is guaranteed by encryption and the bank's confirmation process with the issuer of the check (although the check can be traced across users)
| Previous slide | Next slide | Back to first slide | View graphic version |