Week 7 Checkpoint It 205

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Many of us have become accustomed to electronic payment systems. These systems will continue to increase as businesses and banks present more opportunities to use them.  Resource: Ch. 9 of Essentials of Management Information Systems Answer the following questions in 200 to 300 words:

Name and describe various categories of e-commerce.
E-commerce has several different categories which include business-to-consumer, business-to-business, and consumer-to-consumer. The business to consumer category is probably what most think of when considering e-commerce. This category is best described as when a retailer offers products and services to an individual consumer. The business to business category of e-commerce may not be as popular in the public eye, but is an integral part of how companies conduct business. Business to business e-commerce is basically when a business makes a business out of supporting other companies by selling them products they need to run their business. Consumer to consumer transactions are not a new idea, but the introduction of the e-commerce environment has drastically changed this category of e-commerce. It used to be that one could only sell unwanted or unneeded personal belongings to people in a relatively close geographical area. With e-commerce this is no longer the case. Sites like eBay allow people to sell items in their possession to the highest bidder without the constraint of geographical location. When consumer to consumer transactions are done this way it allows the person selling their product to get a much fairer price for the products they are offering.

Compare and contrast electronic payment systems. Which type do you use most often? Which type is most applicable for organizations you interact with regularly? There are many different types of electronic payment systems. Each of these systems has their own place in the e-commerce environment. One of these systems is the digital wallet. This system...
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