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:
1. Name and describe various categories of e-commerce.
The three main categories of e-commerce are:
• Business-to-Consumer (B2C) electronic commerce involves retailing products and services to individual shoppers. BarnesandNoble.com, which sells books, software, and music to individual consumers, is an example of B2C e-commerce.
• Business-to-Business (B2B) electronic commerce involves sales of goods and services among businesses. ChemConnect’s Web site for buying and selling chemicals and plastics is an example of B2B e-commerce.
• Consumer-to-Consumer (C2C) electronic commerce 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 their merchandise off to the highest bidder, or for a fixed price. Craigslist is the most widely used platform used by consumers to buy from and sell directly to others. Each of which has special characteristics that depend on the value of order. Micro Payment (less than $ 10) that is mainly conducted in C2C and B2C e-commerce. Consumer Payment that has a value between $ 10 and $ 500. It is conducted mainly in B2C transactions. Business Payment that has the value more than $ 500. It is conducted mainly in B2B e-commerce. Three classes of typical electronic transactions:
Tiny value transactions: below $1.
Medium value transactions: between $ 1 and $ 1,000
Large value transactions: above $ 1,000.
Systems that can support tiny value transactions have to trade-off between conveniences of transactions (the major part of a cost in an extremely cheap transaction) vs. the security or durability of transactions. On the other...
References: Sumanjeet, S. (2009). EMERGENCE OF PAYMENT SYSTEMS IN THE AGE OF ELECTRONIC COMMERCE: THE STATE OF ART. Global Journal Of International Business Research, 2(2), 17-36.
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