Types Of Electronic Payment Systems

IntroductionThe internet has facilitated the development of a completely new sorrowful in fashion exemplar whereby the vendees and traffickers do non bump into to meet to require their transactions . The traditional definition of a market was a place where buyers and sellers met . That `place is no long-term limited to world a geographical fancy . nowadays it has become an online concept Consumers stub make on the intact their purchases sitting right at home . This now clientele line instance has been made potential by the yield of the electronic defrayment clayThe electronic retribution ashesThe electronic honorarium system ploughs by elbow room of collar news reports . The first describe is the matchless which maintains the buyer s billhook details . The second account is a virtual account belongi ng to the online seller which takes and stores the information from the buyer s credit confide note . The third account is the merchant s account , that is to prescribe , the online seller s account . This third account is at the money box which addresses all banking needs of the seller . This account receives the electronic coin from the buyer . What is noteworthy about this system is that there is no send of actual cash taking place . in all the debts that atomic number 18 incurred in a particular transaction argon settled at a later dateThe role of the electronic payment system in e-commerceThe key role that the electronic payment system plays in facilitating e-commerce can hardly be overdone . The concept central to the existence of e-commerce is that buyers do not have to leave the comforts of their homes . This is the reason that the business model engendered by e-commerce has worked so well in some cases . It is on-key that a lot of e-commerce business models got move out the ground with a real bad start a! nd never recovered . until now that was done no fault of the electronic payment system .

What is important for a particular e-commerce business model to work is that alive market forces which depart compete with the e-commerce business model allow have to be taken into cargonful comity . not all products will be conducive to exchange via e-commerce . in that location are some products that a consumer will rather go out to buy rather than sit and surf at home to buy . Books are one example at that place are many consumers who piquantness the concept of going to a physical bookstore and search and looking a round and perchance having a cup of coffee . Unless the e-commerce business model can provide a interchangeable buying experience it is natural spring to fail . therefrom if a particular e-commerce business model failed to get off the ground , it is more often an materialization of website design rather than one of the electronic payment system adoptedSecurity in electronic payment sytemsWithout electronic payment systems , e-commerce business models manifestly would not be viable . However , simply adopting an electronic payment system will not manage . Issues of security mustiness be addressed stringently . accredit cards , which are the principal tools of electronic payment systems , are extremely undefendable to the attacks of...If you want to get a proficient essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper