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Define the term Electronic Cheques in briefly.
The other mechanism for Internet payment is electronic cheques. Along with electronic cheques, there payer (either a business or an individual consumer) instructs his financial institution to pay an exact amount to other part, the payee.
A cheque into the electronic form means a cheque which contains the exact mirror image of a paper cheque, and is made, written and signed through a secure system making sure the minimum safety standards along with the use of digital signature (along with or without biometrics signature) and asymmetric crypto system.
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