Electronic Payment System

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Analysis of Electronic Payment Systems
Michael Buggs
IT/205
12/7/2012
Mr. Kenneth Neveroski

Analysis of Electronic Payment Systems
There are three categories of e-commerce. You have Business-to-consumer which is businesses selling products and/or services to the general public through online catalogs using the shopping cart software. Business-to-business is when businesses sell goods and services to other businesses. Such an example would be fast food restaurants ordering their products from a whole sale retail stores maybe from the likes of a Sam’s club or some other food retail store. You also have businesses that sell office supplies to other businesses. Consumer-to-consumer is another category of e-commerce. This type of category is becoming more and more popular because of websites such as E-bay and craigslist. These websites help the consumer either get rid of old stuff or if the consumer buy a new product and then they decide that they do not want it but it is still in the wrapper then they can put it on E-bay and people can bid for it. This is good because you can normally get new things for a lot cheaper than you would at the retail store. Another consumer-to-consumer is bookoo.com. This website has people from your city or town that sell things that they really do not need. Digital Wallets is a digital wallet where companies store consumer information such as their name, credit card number and address. They store this in their system so that the customer does not have to enter their information every time they order something. Micropayment systems were brought about for those payments in small amounts. Some micropayments will build up an amount then charge a larger sum this system is called accumulated balance digital system payment system. This system will charge for the usage after the balance accumulates. A great example of this would be Vodafone. The payment system I and the online retailer I use is the Digital Wallet. I like to shop on...
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