Examples of this are the well known DigiCash, Cyberbucks, CyberCash, etc. As consumers become more comfortable providing credit card information over the Net, these methods are less utilized. The Pros No credit card transactions are required. No concerns re chargebacks. Lends itself well to micropayments.
Many people are unfamiliar with the concept and shy away from unknown entities.
Both merchant and customer must be participating in the same scheme before this method of ecom can be used. Eliminates the possibility of impulse buying, unless both customer and merchant are already in same scheme. May not be available globally. Check out Digicash and Cybercash 3. Electronic Fund Transfers Funds are transferred electronically from the customers bank account to yours.