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Most of the companies used to store their data manually or
store their data in on-premise infrastructure. To meet the global challenges,
most of the organizations want to utilize their time to improve the business,
and ready to outsource their IT requirement.

Cloud computing is an enhanced innovation to run
organizations. Rather than running the applications on a Personal computer or a
LAN, they keep running on a mutual multi-occupant. It is self-benefit arranged
to utilize any application that keeps running in the cloud, just signed in,
customize it as per the client requirement, and begin utilizing it. These days
even a small organizations are running their App’s using cloud, as content
resource management, HR, and custom-manufactured applications. Cloud gives more
versatile, more dependable and more secure administration. Updates are
occasionally finished by cloud suppliers to encourage new highlights, security.

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Cloud service deployment can be private cloud or public
cloud.

Cloud computing is better for
small and medium-sized organizations. The computing resources can be accessed
anywhere, anytime with any standard device which can access the web. Also,
cloud is considered as the most appropriate cloud deployment model, representing
a perfect balance with the sensitive data issue and cost savings.

Computing resources may be availed
elastically by customers. A customer may request more resources when needed and
release them when not required. From a customer’s point of view the resources
are unlimited. The customer pays only for the total resources used.

Cloud provides high availability
and failover support for DB instances.

Cloud introduces the idea of
anywhere and anytime access to services, tools and data and is the key of
visions for companies with no physical locations or global organizations with
complete infrastructure and unified IT systems.

Security risk of Cloud Computing
can be stayed away from through genuine investigation by associations with
respect to which information ought to be put away in the cloud, creating
propelled information insurance instruments, and enhancing the security in
regards to safety efforts taken by cloud suppliers.

Quick development in the present
innovation and in the information correspondence prompts a tremendous
development of cloud innovation.

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     E-payment
is a way of transferring funds or paying for goods and services through
electronic method without the use of physical money and cheque. It’s also known
as an online payment system. In short, e-payment is facilitated by internet
access. It includes all financial operations using electronic devices such as
computer, smartphones or tablets. The e-payment system has been growing rapidly
due to the widespread of the internet or online banking. As the world more on
technology development, a lot of e-payment systems and payment devices have
been evolved to increase and improve payment transactions while reducing the
transaction of cash and cheque.

     E-payments include a various method which is
Electronic Funds Transfer (EFT) and Credit Payment system. EFT uses electronic
technology and network to transfer money between bank accounts through online without
any exchange of physical cash. For the credit payment system, it is credit
transfer through payment provider, which is an intermediary between the
customer’s bank and the retailer. These include credit cards and electronic wallet.
Generally, these are the most popular and actively used by many consumers and
businesses in their daily transactions.

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     Facilitated by the use of Information and
Communication Technology(ICT) and digital innovation, the banking sector has changed
whereby the transactions are shifting from traditional banking to electronic
banking system which is e-payment (Slozko&Pelo,2014).
Traditional banks were the first financial institution which provides current
account and saving account, acts as the depository institution to accept
deposits, make loans and payment of the cheque. Therefore, traditional banking
involves cash and other paper-based transactions. In comparison, e-payments are
effective and efficient especially in international transactions because
payment is made instantly and so its save time. Together with the electronic
commerce (e-commerce), e-payment has risen significantly over the years as
e-commerce allow consumers to purchase goods and services on the Internet without
barriers of time and distance. Today, the world payment system drive towards
the current trends of cashless transactions has further extended the need for
countries to provide efficient e-payment system to promote growth and economy
efficiency. Furthermore, efficiency payment system would also help to reduce
the costs related to cash and cheque transaction.

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