Electronic banking : pre-authorised payment systems
The introduction of GIRO in Singapore is effectively a stepping stone to move Singapore into a cashless society. Although GIRO promises many benefits to both the payers and payees, it is still not widely accepted as a payment system. Criticisms of this payment system are few yet significant and h...
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| Main Authors: | , , |
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| Other Authors: | |
| Format: | Final Year Project |
| Language: | English |
| Published: |
2015
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/63655 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | The introduction of GIRO in Singapore is effectively a stepping stone to move
Singapore into a cashless society. Although GIRO promises many benefits to both the
payers and payees, it is still not widely accepted as a payment system. Criticisms of
this payment system are few yet significant and hence the purpose of this study is to
provide a more detailed insight to the problems faced by consumers. Despite
measures taken to improve the features of GIRO, surprisingly, many consumers are
either still unaware of such measures taken or feel that they are inadequate. In order
to achieve a higher level of GIRO use, several new features will be proposed.
The study can be divided into three main sections. The first part gives a
literature review of the various pre-authorised payment systems pertaining to GIRO.
A brief discussion of the legal rights of users of these systems will also be included.
The second part examines the level of utilisation of GIRO in the local context. In
addition, grievances of this payment system discovered through a survey will be
discussed. Finally, solutions to these problems and incentives to promote wider use
of GIRO will be suggested. |
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