1.1 Introduction 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. The …show more content…
The Non-Technical Disadvantages The non-technical disadvantages of the application of E-commerce can be summarized by the following aspects: • The security and privacy issue, where it is hard to ensure the privacy or security over the online payments. • The lack of feel or touch of products during the online purchasing process. • The initial cost of E-commerce, where the cost of creating and building of the E-commerce application in-house could be a very high cost which could lead to a delay in the establishment and launching of E-commerce application because of mistakes, or lack of experience. • The resistance of users, where users might not trust the unknown faceless seller websites which will drive them to mistrust the seller and make it difficult to switch from the physical stores to the virtual online stores. • The access to the internet is still not cheap for some customers and still inconvenient for many potential customers such as those customers living in the remote villages. • The rapid changing and evolvement of the E-commerce applications. 2.3 The E-commerce Business
The Internet over the past few years has seen a huge increase in online businesses and consumers. Electronic-commerce is expected to generate $36 billion in revenue during 1999, up 140% from last year alone.[1] With such a huge amount of money to be made on the Internet it is becoming very appealing for small businesses and start-up companies to try and make their niche in e-commerce. The Internet is drastically affecting the way companies and people conduct business now. E-commerce encourages growth in existing as well as new businesses because of lower overhead costs, the huge consumer base and the freedom of information flow. However the online revolution has created a large
E-commerce abbreviation stands for Electronic Commerce. In E-commerce we do business online that is on internet. It is part of the IT (information technology) revolution and now days used widely in the world trade and in Indian economy. E-commerce showing tremendous business growth in our country, due to increasing number of internet users in India. In this paper I attempt to highlight the various essential factors required for growth of E-commerce and various challenges E-commerce facing in India.
As technology advances over the years, we have experienced and noticed that the trend in how payment are received have shift tremendously. Twenty years ago, check was the preferred way of payment. In today’s world, more and more payments are done by credit cards. Credit card transactions are instance that provides a faster payment method.
I am choosing to do my Business Analysis paper on e-commerce. I will explain the importance of it as well as the effects on the global economy. I will discuss the advantages of telecommunications and information technologies in a business versus those businesses without e-commerce. I will also discuss the marketing strategies involved with e-commerce and how it helps businesses. Due to the global nature of internet business, electronic commerce (e-commerce) standards have become a priority on the national and international level. While most traditional businesses are subject to local, state, and national
Worldwide online shopping has been increasing considerably by nearly $100 billion in the US and Europe from 2014 to 2017 (Prashar, Vijay and Parsad 2016, p28). The issue of whether it is beneficial to the society or not has been discussing recently. Some people say that it is disadvantageous due to risks in transaction and security, however, others believe that online shopping offers convenience, business, and many other benefits. It is an important and interesting topic because not only does it have influence over the society but also the development of the economy. This essay will argue that the advantages of online shopping dominate over its drawbacks.
A computers have become more mainstream, more and more operations are conducted online. From online bill pay to simple searches, as one would do with the yellow pages, to online shopping, the Internet has helped shape the way computers are used today. With the Dotcom boom of the mid-nineties and early 2000s, ecommerce and e-business really started to take off. The Internet has given way to some of the biggest economic booms in history. The invention of smartphones and tablets has allowed for consumers to have instant access to the Internet, right at one's fingertips. While e-business is becoming more mainstream, and has its advantages, e-business also has its disadvantages.
Shoppers can’t guarantee the product is the same as the picture that show on the website; It’s difficult for shoppers to distinguish the legality of the websites; Customers sometimes can’t find the server to solve their problem.
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.
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.
However, creating and maintaining an e-tailing website may be expensive. Infrastructure costs for order fulfilment, warehousing goods, dealing with returns and other issues add up quickly. Also, consumers may not trust a company that is not well-established and may not buy from it as frequently as a brick-and-mortar store.
Online payment processing services perform transactions at a much greater speed than manual processing. As well as ensuring error-free computations and faster processing time. Which means
However, there are several reason hinder in the consumer are involved in online shopping because some of the consumer are not willing to take part in online purchased due to the valid reason because there are worried about the quality of the product in online are not durable, moreover, there are not confident
This work is a contribution to the security of e-payments system: the efforts to make them able to continue to fulfill their mission even in adverse environments or conditions - despite attacks failures or accidents - and hence confidence earning. Globally, the use of non-cash payments is increasingly being adopted. The global volume of non-cash payments has continued to grow, even quickly in developing countries, and payments have proved resilient to the effects of the financial crisis. Although macroeconomic weakness decreased the rate of growth in non-cash payments volumes in 2008-09, the initial data suggests that volumes resumed a
Shopping online is where you can purchase products or services online through devices, such as laptops, computers, tablets or smartphones. Online shopping has recently grown in popularity, mainly because it's convenient, easy and usually costs far less than shopping in a store. It also saves you the trouble of searching several stores for a particular product and waiting in long queues. However, online shopping has its drawbacks as you cannot touch and feel the item before buying it, the website may not be trustworthy, you could risk losing your money, could be a delay in shipping and shipping charges may make products more expensive (BusinessDictionary, 2017).
Contents • What is E-payment? • Types of E-payment Systems • Digital Token-based Electronic Payment Systems • Smart Cards & Electronic Payment Systems • Credit Card-based Electronic Payment Systems • Risk & Electronic Payment Systems • Designing Electronic Payment System