Cashless payments comprise all payments in which no cash is used as a payment instrument.  Fast lifestyle and the development of new technologies which call for further simplification, higher efficacy and cuts in payment transaction-related costs, prompted most credit institutions to offer to their clients electronic banking services and enable electronic payments. Various instruments are used in such forms of payments, and the form most commonly used by consumers are payment cards. In addition, global spread of the Internet and a desire for a more efficient and inexpensive execution of transactions in electronic payments have led to the development of electronic money while the development of the Internet as a global information network and the media through which a major share of transactions will be executed dictates caution as regards security and reliability of the systems which enable such payments.