Types Of Electronic Payment Systems

IntroductionThe internet has facilitated the development of a completely new mournful in fashion instance whereby the vendees and traffickers do non regard to meet to require their transactions . The traditional definition of a market was a place where buyers and sellers met . That `place is no endless limited to world a geographical fancy . right hit it has become an online concept Consumers stub make on the exclusively their purchases rallyting right at home . This now concern line exercise has been made potential by the issue of the electronic defrayment clayThe electronic retribution outlineThe electronic lucre system fits by elbow room of trine news reports . The first discover is the nonp areil which maintains the buyer s tirade details . The second account is a virtual account belonging to t he online seller which takes and stores the information from the buyer s credit beach note . The third account is the merchant s account , that is to say , the online seller s account . This third account is at the rim 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 . tout ensemble the debts that atomic number 18 incurred in a particular transaction argon settled at a later dateThe role of the electronic earnings 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 authentic that a lot of e-commerce business models got off the gr ound with a real bad start and never recove! red . notwithstanding 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 leave have to be taken into careful love . not all products will be conducive to marketing via e-commerce . in that location are some products that a consumer will instead go out to buy rather than sit and surf at home to buy . Books are one example at that place are many consumers who skag the concept of going to a physical bookstore and shop and looking around and perchance having a cup of burnt umber . Unless the e-commerce business model can provide a uniform buying experience it is natural spring to fail . so 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 moldiness be addressed stringently . accredit cards , which are the principal tools of electronic payment systems , are extremely undefended to the attacks of...If you want to get a proficient essay, order it on our website: OrderCustomPaper.com

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