Free Sample: Analysis of Electronic Payment Systems paper example for writing essay

Analysis of Electronic Payment Systems - Essay Example

We have four electronic commerce (e-commerce) categories. The first category Is Business-to-consumer () electronic commerce Involves businesses selling goods or services to consumers. . COM, Sears. COM and . COM are example of e-commerce. The second category is Business-to-business (). 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. Crag’s- list and e-bay are examples of 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 or credit card Information.

Another type of electronic payment Is micro payment, 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 ” 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 ( ; Lauded). I use the credit card payment system and electronic billing resentment 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 visa or mater card logo can be used as credit card. The funds are electronically withdrawn from your checking account. I find this method the easiest and convenient way to pay my bills and purchases. Internet technology supports business-to-business e-commerce through electronic data interchange (EDI). This allows the computer from one business to exchange invoices, shipments schedules, and purchase order with the other business computer.

These transactions are reanimated electronically eliminating printing and manual processes of inputting data. EDI have standards defined structure and information fields of electronic documents for the industry (Lauded ; Lauded). The Internet provides flexibility and low-cost for linking businesses together. Companies can extend digital technology and broaden their trading partners. Lauded, K. C. , ; Lauded, J. P. (). Essential of Management Information Systems (8th deed. ). : Prentice Hall It/205 Week 7 Analysis of Electronic Payment Systems By nonacademic We have four electronic commerce (e-commerce) categories.

The first category is Business-to-consumer (BBC) electronic commerce involves businesses selling goods for merchandise over the web is more efficient and it eliminates the need to repeat information for every purchase.