Week 7 Analysis of Electronic Payment Systems
We have four electronic commerce (e-commerce) categories. The first category is Business-to-consumer (B2C) electronic commerce involves businesses selling goods or services to consumers. Walmart.com, Sears.com and Barnesandnoble.com are example of B2C e-commerce. The second category is Business-to-business (B2B). B2B e-commerce sells goods and services from one business to another business. Here is where businesses negotiate over prices for goods and or services needed for their own company. The third category is consumer-to-consumer e-commerce. This category involves consumers selling goods and or services to other consumer. Craig’s-list and e-bay are examples of B2B e-commerce. The last category is mobile commerce or m-commerce. In this category you can purchase goods and or services through the web from a hand held wireless device. Using the digital wallet for paying for merchandise over the web is more efficient and it eliminates the need to repeat information for every purchase. The digital wallet secures the owner information automatically when purchase completed. Consumers do not have to repeat inputting his/her shipping or credit card information. Another type of electronic payment is micropayment, developed for smaller purchases. These purchases are normally too small for normal credit cards. This type is less secure and would have to repeat information for each purchase by the consumer. Another type of digital payment is digital checking systems that the consumer “PayByCheck extends the functionality of existing checking accounts so they can be used for online shopping payments.” The digital checks are processed faster than traditional paper-based checks (Laudon & Laudon). I use the credit card payment system and electronic billing presentment and payment system the most. This system allows the individual to view monthly statement and pay using debit or credit cards. All debit cards with a...
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