The three main categories of e-commerce are: These are used to purchase goods from sites by freeloading money through them. The consumer is happy due to no traveling-time, waiting in-line at the store for purchase of merchandize, or looking for sale people to answer question the consumer has.
Digital wallet is the first type of electronic payment method. Most of the information is in uncoded form. It is conducted mainly in B2B e-commerce. This type is also more secure for the business and the consumer. One of the technological innovations in banking, finance and commerce is the Electronic Payments.
The most popular type of electronic payment is the digital wallet. As payment is an integral part of mercantile process, electronic payment system is an integral part of e-commerce. Both business-to-business and business-to-consumer e-commerce transactions can take place using m-commerce technology.
In comparison of electronic payment systems, the digital wallet is used most often for business and consumers. This type of digital checks is much faster than traditional paper checks.
The digital wallet is more secure the owners information automatically when the information is completed for a purchase. Smart Cards based Electronic Payment System: Compare and contrast electronic payment systems.
The use of handheld wireless devices for purchasing goods and services from any location is termed mobile commerce or m-commerce. E-cash is an electronic or digital form of value storage and value exchange that have limited convertibility into other forms of value and require intermediaries to convert.
Versus the other type of electronic payment systems which is less secure such as; the micropayment is limited on purchase within small amounts such as downloading music or individual articles, accumulated balance digital payment systems this allows the consumer in accumulating debit balance that is taken from their account that they must pay periodically on telephone or credit-cards which is used widely by online newspapers or publishing industry, in limiting consumers to peer-to-peer payment is store value systems, which is limiting in purchase such as; eBay that owns PayPal.
Lastly there is Electronic billing presentment and payments. Combines computerized convenience with security and privacy that improve on paper cash.
The last type of digital payment is digital checking systems that the consumer PayByCheck extends the functionality of existing checking accounts so they can be used for online shopping payments. Online Credit Card Payment System: The digital wallet is more secure the owners information automatically when the information is completed for a purchase.
The reason is they can do more purchasing online and more efficiently by eliminating the need to enter the address and card credit-card information repeatedly. This type of digital checks is much faster than traditional paper checks.
All these systems have ability or potential to displace cash and widely different technical specifications make it difficult to choose an appropriate payment system. For the business this is paperless transaction with security in place for consumer and business. These payment systems have numbers of requirements; such as security, acceptability, convenience, cost, anonymity, control, and traceability.Business Analysis for Online Payment Essay.
Payment Systems The more cautious companies take themselves online in stages. 1. A start is a simple online catalog, from which customers can order by telephone or email.
The personal contact fosters confidence, and customers can check product details with a knowledgeable. Digital checking enables consumers to use their checking account to shop online.
Stored value payment systems allow consumers to make transactions instantly, such as with paypal. Electronic billing allows consu,ers to pay recurring bills online. Analysis of Electronic Payment Systems This type s less secure and would have to repeat information for each purchase by the consumer.
For example; if the consumer was to purchase music to download they would have to. Electronic payment systems can be classified into four categories: Online Credit Card Payment System: This payment system has been widely accepted by consumers and merchants throughout the world, and by far the most popular methods of payments especially in the retail markets.
Jacorey Williams Analysis of Electronic Payment Systems Electronic commerce transactions can be classified in many ways. The three major electronic commerce categories that we have read about are business-to-consumer e-commerce, business-to business e-commerce, and consumer-to-consumer e-commerce.
Electronic Payment Social Commerce Essay CONCLUSION Security of information and payment systems is essential for Globetrotting hotels.
Putting the necessary security mechanisms in place will go a long way to prevent fraud and unauthorized access to customer’s details.Download