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Banking refers to the banking activities performed through the electronic means i.e., using telecommunications network, web technology, personal computer, smart phones and other electronic devices. The first successful introduction of electronic system-based transferable deposition certificate was launched by the National City Bank of New York in 1961. With the development in technology, Electronic Fund Transfer (EFT) acquired place as the first phase of E-banking where the key elements are Automated Teller Machine (ATM), Point of Sale (POS) and Automated Clearing House. E-banking is a product which is designed for the tenacity of online banking that allows clients to have easy and safe entrance to their bank account. E-banking is a safe, fast, easy, effective and efficient electronic service that allows customers' entrance to bank account and to carry out online banking services. Clients of banks can save time by performing banking transactions from any location and at any time from their home or office using this service. The only thing they need is the internet access.People are now more concerned in using the POS terminal while purchasing items from the store. From the report of Tech Matra, it has been exposed that in January 2018 there were a total of 3,55,265 number of POS transactions. Banks and non-Bank financial institutions are encouraging the store owners to use the POS terminal for their transactions. At present, in Bangladesh almost all major cities, popular shopping malls have the POS terminal payment facility. The important issue as well as the most important challenge for the government is to ensure security and prevent fraud and abusing of the modern financial systems. More people in Bangladesh are turning out to be electronic purchasers with the developing number of installment progressions, who are employing portable installment as a lifestyle and to an everincreasing extent, common practice. The government is facilitating an advantageous environment to promote innovations in payments while the regulator is providing appropriate regulations and strict supervision. At present, an incredible level of the legislature to-business installments has been moved to the computerized channels, while in excess of 50 million individuals utilize MFS advancement in their everyday exchanges in the nation under a protected and business accommodating monetary condition. Smartphone penetration with 4G networks and use of QR technology is increasing day-by-day and the use of mobile wallets has turned more useful.

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