What Are The Advantages And Disadvantages Of A Transaction Processing System

Tony’s Chips is a medium sized company that wants to enhance its operations by using e- commerce or what some people would say the web or Internet. The new company has set its sights on moving the current system from an externally hosted website to one that is hosted internally. Furthermore, the site will be redesigned so that customers will be able to place orders through the website and have them delivered as before. The design of the new system will be able to provide more data storage, faster retrieval, better security features and recovery solutions in the event that the website

In January 2014, SmoothPay was first launched in Toronto, Ontario offering mobile payments with integrated functions such as customizable loyalty programs and solutions. In addition, this company’s network has reached over 5,000 users and 100 merchants in their well connected partnerships and community in less than two years. Despite this achievement, only a low percentage of consumers are using their smartphones to make their daily purchases across Canada creating difficulty in further promoting SmoothPay’s business. However, SmoothPay has focused in highly populated areas, such as universities. Therefore, this strategic decision has increased some brand awareness. Since this product lets consumers to easily connect with their payment accounts, such as Visa, MasterCard, and PayPal, many have

Attacks flood the four SIP attributes simultaneously and thus do not change the relative proportions of the attributes. The Hellinger distance is used to measure the distance between two

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.

Re-engineering of business processes to fit the "industry standard" prescribed by the ERP system may lead to a loss of competitive advantage.

Many organizations industriously look for the opportunity to gain the competitive advantages in their industries. One of the opportunities that frequently used by the organization is the implementation of e-commerce. Thus, the e-commerce and the online sale transaction become popular in each industry. E-commerce provides many benefits, such as the saving of shopping time, the cost savings, convenience, and free from geographical constraints.

Although the database system yields considerable advantages over previous data management approaches, database systems do carry certain disadvantages. Such as:

This is the first type of accounting system. It utilizes paper-based journals and ledgers. Nowadays, Computer-based transaction systems replaced some paper records into computer records. Manual system is labor intensive for this system relies on human processing. Because manual system relies on human processing, they may be prone to error. Organizations employ multiple forms of information technology in their accounting information system. Because of the advancements in information technology computer-based transaction system were created. In this system, accounting data are kept separately from other operating data. At this point, there is a greater degree of compartmentalization of work in order to preserve the integrity of accounting information

Use QR codes – This ensures you can collect monies from those who like to click and pay. So, this means taking advantage of ApplePay and other ePay venues.

It includes numerous software components, which allow you to deal with tasks more quickly, accurately and efficiently.

A relational database management system is a type of database management system that stores the data in the form of related tables. The tables might be related to each other by common fields. It consists of a set of tables or files containing data that is fitted into predefined categories. These tables have data in the forms of rows and columns. Relational databases enable users to perform deletion, updating, reading and creating the data entries in the database tables. This is accomplished though structured query language, or SQL. SQL also provides users the facility to manipulate and query data in a relational database. It also provides the facility of multi user accessibility that can be controlled

The payment systems and protocols have been developed with the development of the electronic commerce. The current system of payment is consisting of the merchant, customer, and the payment gateways, the procedure is that the merchant receives the information of the customer’s payment and forward this information to a payment gateway in order to process the payment. This procedure holds several risks to the customer’s information because of the ability of the merchant to save the information related to the customer and may misuse this information later. The other possibility is that the information is compromised and the merchant is unaware when the information of the customer payment is forwarded to a payment gateway.

E-commerce replaces the manual business processes with their automated electronic equivalents to accelerate ordering, delivery and payment

A major disadvantage is that consumers are required to have smartphones or have a PayWave/PayPass credit card to use this payment method, which makes this method limited to whom may use it.

Anyone who has operated a cash register is able to use a basic EPoS software package. One element of this software is having access to features that include management of back orders, deposits, and special orders. A business is able to instantly see the quantity of stock on hand any any location. Receipts for a customer can be printed with a bar code to reduce occurrences of theft from returns. A basic till used at a business can be converted into a useful tool that staff can easily learn.