Analysis of Electronic Payment Systems 1

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B2B (Business to Business): Involves sales of goods and services among businesses. ChemConnect’s Web site for buying and selling natural gas liquids, refined and intermediate fuels, chemicals, and plastics is an example of B2B e-commerce.

B2C (Business to Consumer): Involves retailing products and services to individual shoppers., which sells books, software, and music to individual consumers, is an example of B2C e-commerce.

C2C (Consumer to Consumer): Involves consumers selling directly to consumers. For example, eBay, the giant Web auction site, enables people to sell their goods to other consumers by auctioning the merchandise off to the highest bidder.

Credit Card Payments: Protects information transmitted among users, merchant sites, and processing banks for example Visa, MasterCard, AMEX and Discover.

Digital Wallet: Software that stores credit card and other information to facilitate form completion and payment for goods on the Web. Digital wallets can be used on Google Checkout.

Digital Checking: Electronic check with a secure digital signature for example e-checks.

Stored Value Payments: Enables consumers to make instant payments to merchants or individuals based on value stored in a digital account. Pay Pal is an excellent example.

I usually use credit/debit card payments, but I like store value payments instead. Like I stated in a previous discussion, Pay Pal is very secure. If I see the Pay Pal logo, I can trust that my money won’t be released to the company or person (eBay) until I have received my merchandise and a tracking number has been posted. Store Value payments are most applicable for the organizations that I interact with regularly. Everybody is using Pay Pal, especially when you are making online purchases. The other good thing about Pay Pal is that you can use your regular credit card to make a secure payment as well.

To improve efficiency, some large retailers, suppliers, and distributors have...
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