![]() Acceptance of a purchase order by a seller forms a contract between the buyer and seller, so no contract exists until the purchase order is accepted. "A purchase order (PO) is a commercial document and first official offer issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services. This purchase order processing UML activity diagram was created on the base of activity diagram from the software architecture documentation wiki of the Software Engineering Institute (SEI) of Carnegie Mellon University (CMU). The UML activity diagram example "Payment process" was created using the ConceptDraw PRO diagramming and vector drawing software extended with the Rapid UML solution from the Software Development area of ConceptDraw Solution Park. Mobile handset based payments are called mobile payments." Electronic payments technologies are magnetic stripe card, smartcard, contactless card and mobile handset. Credit card, debit card, Cheques, money transfers, and recurring cash or ACH (Automated Clearing House) disbursements are all electronic payments methods. In this method, a third party must be involved. Provisioning is to transfer money from one account to another. Exchanging is to change coin, money and banknote in terms of the price. There are two types of payment methods exchanging and provisioning. "A payment is the transfer of an item of value from one party (such as a person or company) to another in exchange for the provision of goods, services or both, or to fulfill a legal obligation. The UML activity diagram example "Cash withdrawal from ATM" was created using the ConceptDraw PRO diagramming and vector drawing software extended with the Rapid UML solution from the Software Development area of ConceptDraw Solution Park. Thus, ATMs often provide one of the best possible official exchange rates for foreign travellers, and are also widely used for this purpose." If the currency being withdrawn from the ATM is different from that which the bank account is denominated in (e.g.: Withdrawing Japanese yen from a bank account containing US dollars), the money will be converted at an official wholesale exchange rate. Using an ATM, customers can access their bank accounts in order to make cash withdrawals, get debit card cash advances, and check their account balances as well as purchase pre-paid mobile phone credit. The newest ATM at Royal Bank of Scotland allows customers to withdraw cash up to £100 without a card by inputting a six-digit code requested through their smartphones. Authentication is provided by the customer entering a personal identification number (PIN). On most modern ATMs, the customer is identified by inserting a plastic ATM card with a magnetic stripe or a plastic smart card with a chip that contains a unique card number and some security information such as an expiration date or CVVC (CVV). ![]() "An automated teller machine or automatic teller machine" (ATM) (American, Australian, Singaporean, Indian, and Hiberno-English), also known as an automated banking machine (ABM) (Canadian English), cash machine, cashpoint, cashline or hole in the wall (British, South African, and Sri Lankan English), is an electronic telecommunications device that enables the clients of a financial institution to perform financial transactions without the need for a cashier, human clerk or bank teller.
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