Payment Gateway : Introduction And Overview

Amazon.com operates in the Online Retail Industry. The sector is one of the fastest growing globally and is outperforming the ordinary retail marketplace. It was created after 1995 and it was only the Internet that made it possible for such an industry not only to be established but to become one of the most flourishing sectors in the business environment. What is interesting is that Amazon.com, together with eBay is the pioneer in the field. Both companies were launched in 1995 and are still extremely successful. The creation of e-mail in 1996 had a huge impact on the development of online retail by introducing a fast and easy way to communicate with customers. For this two-year period Internet usage

Amazon and Ebay are two well-known brands of online shopping sites. They have evolved and grown from small firms to the giants of e-commerce today. In this essay, a comparison would be made between the two firms.

In the recent past, Amazon has developed an important online payment system that has seemed to improve the customers’ concerns related to online safety and privacy. The approach has become a significant advantage for Amazon over E-bay as the recent struggles to deal with the development of a secure payment platform. On the same note, Amazon has a critical opportunity that is related to the possible development of more products under the entity 's brand, as opposed to using third-party products and goods (Bensinger, 2016). The company has the chance to increase more of the Amazon brand products in the process of reducing stocks from other partners. Amazon can exploit the current online markets and building capacity in new markets that include new countries that have not yet experienced the impact of online markets.

However, this definition seemed to be impartially narrow by some people, therefore, with the new term E-Business has emerged, that brings out wider definition of E-Commerce. It is important to note that E-commerce is not just restricted to selling and buying of goods and services, however it also service customers, cooperating with business partners and leading electronic transaction within the company (Song & Zahedi, 2001).

This paper addresses the parallels between of Amazon. Com, Inc and Sears Holdings Corporation. It will examine how the historical, cultural and market opportunities that each company took advantage of, evolved them into the companies they became. Key being the ability to take advantage of a growing and cheap communications to distribute their offerings. Amazon.com opened for business in 1995, with just a few people packing and shipping books from garage in Bellevue, Wash. Sears was founded in 1888, with Richard Sears using a printed mailer to advertise watches and jewelry.

For the reasons of this report, the ecommerce base comprises of the processing assets (i.e., servers, stockpiling, system and capacity switches, firewalls, physical racks containing these, and related programming) that process, transmit, or store installment card information, or can straightforwardly get to such assets. Servers that are a piece of the ecommerce foundation and any frameworks that can generally specifically get to processing assets that contain installment cardholder information must be enlisted as directed machines.

Submitted By Amit Aggarwal Biswadeep Sahoo Debayan Mukherjee Prakhar Singh Somil Joshi Varun S. Pilla

Amazon.com (Amazon), founded in 1995 by Jeffrey Bezos, has grown from an online bookseller to a virtual retail supercenter selling products ranging from books, toys, food, and electronics for which it is best known today (Hill & Jones, 2013, p. C272). At its inception, the goal of Amazon was to become an online bookstore that could offer a wider range of books to millions more customers than a typical brick-and-mortar (B&M) bookstore at lower prices (Hill & Jones, 2013, C272). After 2 years of rapid growth, Bezos took the Company public in order to raise more capital (Hill & Jones, 2013, C273). In addition to its lower prices, Amazon had the benefit of its patented 1-Click ordering system which improved the ease of ordering from its site. Some of the Company’s competitors such as Barnes & Noble and Borders, attempted to compete in the online bookselling industry however, none were successful as Amazon had first-mover advantage (Hill & Jones, 2013). As the Company’s growth began to slow down in the late 1990’s, Bezos expanded Amazon’s product offerings into CDs, cameras, DVD players and other electronic and digital products which created another advantage for the Company. Over the 2000s, many of the weaker company’s in competition with Amazon found online retailing too complex and expensive and consequently formed agreements with Amazon (or eBay) to operate their

Business like Amazon wants to make buying item from their business easier for customers. This is why Amazon offers E-retailing which gives customer option to go shopping online. The internet has had impact change on consumers shopping habit as shopping online has numerous advantages which is why online shopping continues to gain popularity. Some of the advantages of E-retailing is that it’s convenient as consumers are able to go shopping at home which could help them save cost on travelling and also gives consumers an option to compare prices of different products as there are wide range of products being sold online.

Launched by Jeff Bezos, the Amazon.com website started in 1995 and is today considered as one of the most prominent retail website on the internet with a record turnover of US$ 14.87 billion in 2007. Jeff Bezos’s intention was to create an internet based company with the most dedicated product portfolio on the internet where customers could find anything they might want. Amazon’s success is based on technology, services and products (Jens et al., 2003).

In 1991, the internet became available for commercial use, which introduced the possibility for what we now know as electronic commerce, or e-commerce. By 2000, “a great number of business companies in the United States and Western Europe represented their services in the World Wide Web” and it was at this time that the e-commerce that we utilize in today’s business world took shape (e-commerce Land, n.d.). “People began to define the term ecommerce as the process of purchasing of available goods and services over the Internet using secure connections and electronic payment services” (e-commerce Land, n.d.). Through continued growth of the internet, brick and mortar stores came to realize that electronic representation would be an

E-commerce is a product that has been available since the early 90’s. It is something that people are familiar with. A product that is now part and parcel of people’s lives.

My work will be focusing on one of the biggest E-commerce company in the world and the number company in the United States, Amazon.com. Throughout this expository, I will highlight its main functions, prowess, power, and also its influences in our daily life. Therefore, our concerns will be consecutively Amazon.com origin and its founder’s as well, and its financial information and bringing out the facts that make it a unique and successful company despite its light weaknesses.

E- Commerce (Electronic- Commerce) has made it possible for business to give advertisement along with features and price- tag of products using computers. All organizations are setting for E-commerce as it is simple, secured and efficient. Moreover it standardizes organization in present competitive market. E- Commerce is used to handle electronic commerce. It is the latest trend for commerce.

According to Borio and van den Bergh (1993:8), a payment system may be defined as the set of arrangements for the discharge of the obligations assumed by economic agents whenever they acquire real or financial resources. The history of payment systems has been driven by the pressure to facilitate the execution of transactions. Although payments systems differ considerably from country to country, the major participants, as well as the key features of the settlement media and mechanisms, are quite similar.