Physical Security Aspects of E-Cash

Almost half century back the "barter system" was common when the commodities could be exchanged. But with the advancement of technologies in various fields, a revolutionary change has come into effect. The main effect has been in the monetary system. Internet has been a prime factor which has made life simple and fast one such innovation is e-cash. E-cash has brought tremendous change in payment method. It has replaced the conventional method of transactions, now money has become the intangible item and can easily travel across the world. In this paper, we have discussed about the e-cash system, money flow and its payment process followed by the psychological antecedents over less use of e-cash and the proposed model that requires the maintenance of database among the consumer and financial institution in aspects of security.