It also has cost implications for the customer as he has to pay for charges at international data transmission tariffs.   Multilayer security by way of log-in password, transaction password and some confidential data confirmation make on-line transactions secure in a better manner. But, there are issues like memorizing of multiple passwords, „slogans‟ , pictures, answers to questions etc.
Both advanced economies and emerging economies need to adapt, else I fear we are about to embark on the next leg of a wearisome cycle.