Very Easy MOney Transfere-Cheques | Electronic Billing & Payment

Cash Payments | Tax Payments

Draft Presentation10th January 2007

e-Cheque

"a cheque in the electronic form" means a cheque which contains the exact mirror image of a paper cheque, and is generated, written and signed in a

secure system ensuring the minimum safety standards with the use of digital signature (with or without biometrics signature) and asymmetric

crypto system

(ACT NO. 55 OF 2002 Dated 17th December, 2002 )

A cheque in the electronic form

Highly secure - uses digital signatures and asymmetric

crypto system based on

Public Key Infrastructure

Advantages of e-Cheques

They are a fast, secure and convenient mode of electronic

payment

Advantages of e-Cheques

With e-Cheques you can

•Payment•Transfer•Deposit•Certify•Stop•Inquiry•Present•Re-present

Advantages of e-Cheques

Process automation leads to lowering of costs

Advantages of e-Cheques

Generation of e-Cheque is Free

Advantages of e-Cheques

The Bank's liability in preserving passwords, PINs

etc. is reduced

Advantages of e-Cheques

The Bank cannot be held responsible for any frauds

resulting from the leakage of critical user information or

incorrect transfers

Advantages of e-Cheques

Operating expenditures like costs of printing cheque books

etc. are reduced

Advantages of e-Cheques

Process flow

1. User Creates e-Cheques

2. Bank verifies details. If, Stage 1 then transfer through NEFT Else, Certify e-cheque and send back to user.

3. Certified e-cheque is sent back electronically to the user

4. User sends Certified e-cheque to payee

5. Payee deposits Certified e-cheque in bank online

6. Banks settle the payment through Electronic clearing

A VEMOT e-Cheque

e-Tax Payment

Pay your Taxes online

Advance tax | Self assessment Tax | TDS | TCS | Service Tax | VAT etc..

Generate e-Cheque Drop e-Cheque in drop box

Payment done and Saves online generated Challan.

Assessee Bank

e-Cheque and download Challan

Electronic Billing & Payment

Bank

e-Bill

Corporate

Client

(VEMOT) e-Cheque

Electronic Billing & payment facility helps corporate houses in speedy distribution of e-Bills & recovery of payment

VEMOT

Cash Payment

With cash payment facility

•Instant cash payment up to Rs. 25000/- will be possible through VEMOT agent network.

•You need not hold a Bank account in each city

•The system is highly secure, as it works on PKI

• Payment can be made at remote locations also.

Corporate VEMOT Agents Branch OfficeVEMOT Server

Corporate forwards Payment statement & transfer fund to VEMOT account

Thank you!

For Details and for solution implementation, contact: Skorydov Vemot

Email : vemot@skorydov.comTel : 91- 22 – 30204500Fax : 91- 22 - 30204500

© 2006 Skorydov. All rights reserved.