Can I pay by electronic check in China? Which is better, electronic check or paper check?

At present, the central bank and commercial banks have established a nationwide payment and settlement and capital settlement system. How to effectively use the existing network resources to realize the function of electronic check and reduce a series of expenses such as hardware equipment investment and software development has become a major problem faced by China's financial science and technology circles. Electronic check payment is still in the trial operation stage in China.

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Electronic check is a form of electronic payment, which uses digital transfer to transfer funds from one account to another. The payment of this kind of electronic check is transmitted by password on the network connected with merchants and banks, and most of them use public keyword encryption signature or personal identification number (PIN) instead of handwritten signature. Electronic check payment may be the most efficient means of payment, because the transaction cost is low, and banks can also provide standardized fund information for businesses involved in e-commerce. Using electronic check to make payment, consumers can send the electronic check to the e-mail box of the merchant through the computer network and send the electronic payment notice to the bank, and the bank will immediately transfer the money to the bank account of the merchant. This payment process can be realized in a few seconds. However, there is also a problem, that is: how to identify the authenticity of electronic checks and electronic check users? Therefore, it is necessary to have a special certification body to certify this, and at the same time, the certification body should be able to provide certification for the identity and credit of merchants like CA.

Electronic check 1. E-check is especially suitable for B2B and other large-value e-commerce transactions. 2. It can be easily combined with EDI applications to promote electronic transactions and payments based on EDI. 3. Electronic check technology can connect public network financial institutions and bank bill exchange network, thus connecting the existing financial payment system through public network.

What are the advantages of electronic checks? 1. E-check can facilitate the new online service. Support the new settlement process; Can automatically verify the digital signatures of all parties to the transaction; Enhance the security of each transaction link; Integrate with EDI-based electronic orders to realize the automation of settlement business. 2. The operation mode of electronic check is the same as that of traditional check, which simplifies the learning process of customers. Electronic check retains the basic characteristics and flexibility of paper check, strengthens the function of paper check, is easy to understand and can be adopted quickly. electronic check

3. Electronic check is very suitable for large settlement; The encryption technology of electronic check makes it easier to handle than the system based on asymmetry. The payee, the payee's bank and the payer's bank can prove the authenticity of the check with a public key certificate. 4.E-check can provide services for the enterprise market. Compared with other methods currently used, enterprises can reduce the cost by using electronic check for online settlement. Because the contents of the check can be attached to the remittance information of trading partners, the electronic check can also be easily integrated with EDI applications. Electronic checks require the establishment of reserve funds, which is an important requirement for business activities. The third-party account server can charge the buyer or seller transaction fees to make money, and it can also act as a bank, providing deposit accounts and making money from them. 6. E-check requires connecting the public network with the financial settlement network, and giving full play to the role of the existing financial settlement infrastructure and public network.