...major types of electronic commerce are business-to-consumer, business-to-business, and consumer-to-consumer. Business-to-consumer (B2C) is selling products and services to individual shoppers. Barnes&Noble.com is an example of business-to-consumer electronic commerce. Business-to-business (B2B) involves the sale of goods and services among businesses. Millpro.com provides business-to-business electronic commerce. Consumer-to-consumer (C2C) involves consumers selling directly to consumers. An example of consumer-to-consumer electronic commerce is eBay.com. Electronic commerce transactions can also be classified based on the participants’ physical connections to the Web. Participants can use wired networks or mobile commerce. ( HYPERLINK "http://www.angelfire.com/rebellion2/jsmith/case_4.html" http://www.angelfire.com/rebellion2/jsmith/case_4.html) Some types of electronic payment systems are Digital Wallets, Micropayment Systems, Accumulated Balance Digital Payment Systems, Stored Value Payment Systems, Digital Checking Systems, and Electronic Billing Presentment and Payment Systems. Digital Wallets make payment by credit card easier and faster by storing the card holder's information securely. When each transaction is made, the card holder does not have to enter their information over and over again. An example is google checkout. Micropayment Systems have been made for purchases under 10 dollars, and Accumulated Balance Digital Payment Systems are used to...
Words: 511 - Pages: 3
...Journal of Electronic Commerce Research, VOL. 5, NO.4, 2004 USING E-CASH IN THE NEW ECONOMY: AN ECONOMIC ANALYSIS OF MICROPAYMENT SYSTEMS Michelle Baddeley Gonville & Caius College and Faculty of Economics and Politics, Cambridge, UK mb150@cam.ac.uk ABSTRACT The growth of electronic commerce is dependent upon the emergence of effective electronic payment systems. Whilst payments for large purchases can be made relatively easily using credit/debit cards, small-scale electronic commerce is constrained by the limited nature of existing e-cash (or ‘micropayments’) systems. This paper outlines the evolution of electronic payment systems, leading to an analysis of the essential characteristics of e-cash, and microeconomic / macroeconomic implications of the development of e-cash. Finally, the key characteristics of successful electronic payment innovations are analysed using binary dependent variable estimation techniques on data derived from the Electronic Payments Systems Observatory (ePSO) database. Keywords: e-cash, micro-payment systems, e-commerce 1. Introduction Electronic commerce is growing at an increasing pace and financial instruments are adapting to the increased volume of spending taking place over the Internet (Economides, 2001). Until now, most buyers have used credit arrangements or checking accounts as the principle means of paying for Internet purchases. There is however, a 'price umbrella' underneath credit-card transactions that makes them...
Words: 11078 - Pages: 45
...Institutionalizing Electronic Payment (e-payment) Systems in Ghana |Prince Kwame Senyo | | |University of Ghana | | |kpsenyo@gmail.com | | INTRODUCTION Technological advancement has caught up with us in the developing world and there is a need to rapidly change and focus on how best we can make optimum use of this opportunity. Payment for goods and services have been simplified and expedited by the introduction of new technological innovations. Statistics from the World Payment Report (2011) indicates there is a global increase in the volume of non-cash payments transactions by 5% in 2009 to 260 billion in 2011. The payment for goods and services in Ghana is mostly cash based and characterized by long queues and delays. A study by Abor (2004) pointed out that, before the introduction of electronic payment in Ghana customers will have to go to their banks to perform all transaction and with the long queues in most of our banks, payment became a problem. Heeks (2002) described information system in developing economies like Ghana as questionable and coupled with different challenges. However,...
Words: 1925 - Pages: 8
...University Cyberjaya, Malaysia behrang_samadi@yahoo.com Meera Menon5 Faculty of Design Inovation, LimkokwingUniversity of Creative Technology, Cyberjaya, Malaysia meera@limkokwing.edu.my ABSTRACT Given the impact of the Internet on all aspects of economic life, it can be regarded as a source of emergence of new electronic economy with an extremely rapid growth, creating new opportunities for Industrial and business activity, increase employment opportunities.Robust economic activity on the Internet or by using its capabilities led to the emergence of a new concept- electronic commerce. KEY WORDS Internet, electronic commerce, electronic payment systems. 1. INTRODUCTION Advances in communication technologies within the last decade of the twentieth century paved the way for innovations, promoting rapid globalization. The convergence of telecommunications and computer technology has given birth to a new business organizational system called the internet, presenting a revelation of ecological business development[1]. New web technologies are offering companies, unprecedented opportunities to rethink strategic business models, processes and relationships [2]. Electronic commercial transactions over the Internet, known as “e-commerce,” have grown rapidly over the last five years that many experts continue to under estimate its growth and development [10]. Whether...
Words: 3174 - Pages: 13
...Management of Accounts Receivable December 1997 Contents Preface Introduction The Accounts Receivable Process Re-Engineering Accounts Receivable Risk Management Use of Advanced Technology Debt Collection Processes Performance Measurement Appendix Preface This guide accompanies the Auditor-General’s Audit Report No. 29, Management of Accounts Receivable in the Commonwealth. It is intended to provide an overview of the current trends and "better practice" approaches that are being adopted by organisations in managing accounts receivable. In the commercial world the way in which organisations manage their accounts receivable has significant implications for the financial health of those organisations. This creates an imperative to ensure the management of receivables is both efficient and effective. The practices used in common business processes such as accounts receivable management have universal application and are not industry specific. In this regard there are lessons to be learned by others from the practices followed by organisations for whom accounts receivable is a core business process. The better practices discussed in this guide are therefore recommended for consideration by Commonwealth government agencies. Not all of the practices outlined in this guide will suit each agency’s circumstances, however, it is considered that most agencies, which derive revenue on sale of goods and services on credit terms, will benefit from benchmarking their current practices...
Words: 4242 - Pages: 17
...You Decide E-payment system and securing their database Report Prepared for: Book Bunker By: Your Name Ideas and Strategies for utilizing e-payment system and securing their database February 12, 2014 David E-marketing and E-commerce Consultancy Executive Summary (Situational Analysis) What constitutes business success? Is it your skills in terms of product innovation, your ability to deliver in terms of products and services demanded by your customers? Yes, these are what constitute business success. However, what happens if you have the best products, the best initiatives in terms of what customers want but you are not known? How then can you say you have a successful business? The solution to this is an e-payment system (this is a way customers can pay for your products and services from a mobile device and or using your website). People today live with the use of all technology, they carry their mobile devices everywhere they go whether going to work, the store, or even when they are just sitting at home watching TV. With this much technology that people carry with them you can utilize an e-payment system to the full advantage. E-payment is a way customers can pay for your service or pay for and purchase products from you from their mobile device or from their computer from the comfort of their own home. Ideas and Strategies for utilizing e-payment system and securing their database Now days, life has become very fast. Most of the people do not prefer going...
Words: 2637 - Pages: 11
...Course: Research in Information Systems June 2012 Skopje Content Research Project proposal …………………………………………………3 Abstract Objectives Planning and methods Literature review ……………………………………………………………..6 Research strategy – Survey……………………………………………….8 Data generation methods…………………………………………………9 Data analysis………………………………………………………………..….10 Conclusion………………………………………………………………………15 Research Project Proposal [Research in Information Systems] [Lundrim Ologu] SeeU, Spring 2012 _________________________________________________________ Title: E-banking characteristics. E-banking situation in Republic of Macedonia Abstract: E-banking characteristics. E-banking situation in Republic of Macedonia The payment system represents a sum of instruments, procedures and infrastructure for money transfer. It is of great importance for all economic agents since it enables fast and efficient payments in the national economy as well as internationally. Electronic payment system functionality is measured through analysis of the transactions committed, structure of the electronic instruments available within a country, and payment instruments used during payment of purchased or ordered products or services. The use of Electronic Payment Instruments in Macedonia is growing steadily, which shows that the EPS system in this country is continually growing and is in some extend well organized, people are friendly to ICT and conduct electronic transactions easily. E-banking...
Words: 3430 - Pages: 14
...Electronic Commerce (E-Commerce) [pic] Chapter 1: Introduction o Background information Electronic commerce has revolutionised the entire process of business operation and transaction itself in the day-to-day business. The growth of electronic commerce is mainly with the technological advancements and the innovative methods of sales and conducting transactions over the Internet. Alongside, the increase in the competition and the continuous globalisation of the business organizations with the presence of conglomerates both at the national and international markets has created the need for electronic commerce as an alternative to leverage growth in business and generate revenue. Retail sector in the UK accounts for a major portion of the nation’s annual revenue. The increase in customer demand for new products as well as the flexibility for shopping online, the electronic commerce has made a tremendous impact in the actual form of retailing itself. In this report, the author aims to analyse the impact of electronic commerce over the retail sector and the extent to which electronic commerce has reached the general public. o Aim and Objectives The aim of this report is to analyse the impact of electronic commerce on TESCO Plc: the leading retailer of the UK. The research is accomplished through the following objectives • To analyse the growth and impact of electronic commerce in the business society of the UK. • To research the effect of electronic commerce...
Words: 4768 - Pages: 20
...com/shop/ifsm-461-case-study-solution/ Case Study Using the case study provided, students will prepare and deliver an analysis which is divided into five parts, or stages. Each stage is to be completed and submitted via the Assignment Folder according to the Course Schedule. The stages build upon each other and consist of the following assignments: (Only do stage 1 to 3) Text Book- (Systems Analysis and Design 10th edition by Harry J. Resenblatt. 2014. Shelly Cashman Series. Course Technology) Stage 1: Using the case provided, develop a Requirements Document that provides a high-level description of the current information system and a proposed replacement system, process diagrams for each, a Functional Decomposition Diagram (FDD), and a Systems Requirement Checklist for the new system. Analysis will be presented in 3-5 page paper, plus diagrams, using Microsoft Word. Stage 2: Using the case provided and the process identified in the assignment, model the data and processes by developing a Context Diagram and a Diagram 0 for the new system. Deliverable is the two diagrams, properly labeled, using Microsoft Word or PowerPoint (or a drawing tool that can be viewed without specialized software other than Microsoft Office). Stage 3: Using the case provided and the process identified in the assignment, develop a Decision Table and a Decision Tree, relevant to the new system. Deliverable is the two illustrations, properly labeled, using Microsoft Word or PowerPoint (or a drawing...
Words: 5201 - Pages: 21
...Report on Bangladesh Electronic Fund Transfer Network: A Study on Prospect of Payment and Settlement System in Bangladesh Prepared by Kafil Uddin Muhammad Zahid Mahmud ID: 80802062 Supervisor Professor (Dr) Khondoker Bazlul Hoque Department of International Business University of Dhaka Date of Submission: November 26, 2015 Department of International Business University of Dhaka November 26, 2015 Professor (Dr) Khondoker Bazlul Hoque Department of International Business University of Dhaka Subject: Submission of Internship Report. Dear Sir With due respect and humble submission I beg state that I want to submit my internship report consist of “Bangladesh Electronic Fund Transfer Network: A Study on Prospect of Payment and Settlement System in Bangladesh” as the study part of which you had assigned me for fulfillment of the course “Internship” of Evening MBA program. May I note here that, there will be no dearth of sincerity on my part to bring the issue under study into proper focus. However, I would like to request you to consider if any error is found in my report. Finally, I would like to request you to permit me to conduct the research on my proposed topic and submit my report on that. Thanks in advance for your kind assistance and advice in this connection. Yours obediently, Kafil Uddin Muhammad Zahid Mahmud ID. 80802062 2nd Batch, Department of International Business University of Dhaka Contact No. 01715720770 Email: kafil_uddin@yahoo.com ii | P a g e ACKNOWLEDGMENT...
Words: 13829 - Pages: 56
...Cash, Paper-based and Electronic Payments: A Theoretical Approach Francisco Calladoy Jana Hromcováz and Natalia Utrero , Abstract In this paper we provide a general equilibrium model that helps explaining payment choice at the retail level: cash, electronic and paper-based instruments. In particular, it provides theoretical foundations to reconcile previous empirical evidence on the matter. Payment pattern of a given country can be shaped by the payment infrastructure, the cost of each payment instrument, the degree of technology development and the interest rate. We show that the introduction of a cheaper payment instrument, in this case electronic payments, may be welfare improving. The calibration exercise for Norway illustrates that the policy of correct pricing of checks promoted by the Norwegian authorities may imply 4% increase in the welfare of the country. Keywords: cash; payments; human capital; cash-in-advance; JEL classi…cation: E42, E41, O42 This paper has bene…ted from suggestions and comments from Rolf Campos, participants in the Finance Forum in Madrid, Symposium of the Spanish Economic Association in Valencia and the seminar at Universidad de Murcia. Financial support from the Spanish Ministry of Education and Science through grants SEJ2007-60671/ECON, SEJ2007-62500, SEJ2007-67895-C04-02, Generalitat de Catalunya through the Barcelona GSE research network and Instituto Valenciano de Investigaciones Económicas are gratefully acknowledged. y Universitat...
Words: 11814 - Pages: 48
...case in detail. The extreme view is that the optimal level of NWC is zero. This is based on the premise that working capital is an idle resource that provides little or no value to the stockholders. Research shows that there is a positive relationship between a reduction in working capital and stockholder wealth. However, is it possible for a firm to operate without any investment in working capital? It depends, probably not. Some investment in working capital acts as a shock absorber and reduces the firm’s risk and the cost of capital. 2. Describe the three motives for holding cash. Managers have a transactions motive to hold cash when expenses are unsynchronized with cash inflows. In this case cash provides a medium to fulfill payments in lieu of liquidating long-term assets. Thus, cash can reduce transaction costs and opportunity costs that stem from lost returns due to early liquidation. The transactions motive for holding cash is important for firms with unsynchronized cash inflows and outflows. Managers may hold cash for precautionary purposes because cash can buffer against unexpected contingencies or cash flow shortages; realized cash inflows may be less than expected. Precautionary cash holdings provide funding for purchases and repayment of debt, which are even more critical during tight credit periods when external capital is more difficult to acquire. Managers also have a speculative motive because cash holdings allow for the acquisition of positive net...
Words: 1520 - Pages: 7
...ABSTRACT Electronic banking is a subject receiving great attention in the banking industry and the regulation agencies. It is a driving force that is changing the landscape of the banking industry. It has blurred the boundaries between different financial institutions, enabled new financial, products and services and made existing financial services available in different packages. Some analysis argue that electronic banking is revolutionizing the banking industry, others see it as simply complementing the physical banking branches; irrespective of its own merits there are diverse challenges and problems associated with this form of banking in Nigeria. The main research instruments used are questionnaires and personal interview for staff and customers of various banks, primary and secondary method of data collection were used. The simple frequency percentage was adopted as the statistical measure and hypothesis testing was analyzed using chi-square. In conclusion, the study revealed that electronic banking despite its challenges has led to increased efficiency in banking and its service ,cost-reduction in banks, and reduction of waiting time experience in the banks. The research recommended that banks should follow the stipulated electronic banking guidelines of the central bank of Nigeria. Government should accelerate actions that will enable a good environment and the growth of the banking sector. CHAPTER ONE INTRODUCTION 1.0 BACKGROUND...
Words: 7954 - Pages: 32
...the knowledge of how to explore their website or pages in order to let more people know which can help them to earn more profit. Besides, some of them are still selling their products and items in a physical store by running a traditional business method. As in the research, there are many people doing selling fashion such as clothes, shoes, accessories, etc. in facebook, twitter and others but without the payment system, business strategies, etc. This BIT system is designing for Small Medium Enterprise (SME) those who wanted to operate their online business with using electronic device such as internet marketing, mobile marketing and etc to have more connection and connectivity with the consumers. This designation of BIT system will be containing the e-marketing framework that helps them to explore in the market more widely. In addition, it can be attract the offline people and for those who don’t know your company or website to increase more traffic or more network. As the e-marketing framework will be more focusing on fashion industry, this system will be fit for those who wants to do fashion business online selling. The company’s structure can be less than or more than 1 people, as it depends on how systematic of that people are. Of course, there are less people to do like that if they want to do a long run business. The important part is how they attach the e-marketing framework into real life in order to achieve higher level of customer satisfaction,...
Words: 2289 - Pages: 10
...First International Symposium on Data, Analysis of Current E-Payment Solution in China--Third Party Payment Platform Nie Jin School of Information Management Wuhan University Wuhan P.R.China 430072 Email: nie_jin@yahoo.com from Master Card and Visa [5]. This paper presented that establish an effective credibility guarantee system is important to the e-business development in China. Based on the analysis of different payment systems a third party payment platform is one way to avoid credibility and security pitfalls in e-business monetary transaction in China at present. Abstract—Electronic business and especially electronic payment systems have been flourished in the past decades. Securely transfer monetary value can establish e-business participants’ confidence and facilitate the e-transaction process. Establishing the guaranteed credibility system can effectively strengthen the electronic business growth. This paper presented that setting up an efficient credibility system will improve Chinese e-commerce environment. Implementing the third party payment platform would be one of the effective solutions to Chinese e-business monetary transactions at present. Key words: electronic payment system, third party payment platform, credibility system I. II. Credibility has always been a virtue in Chinese culture. China used to be under central planned economy. Central government controlled the whole nation’s economic activities and guaranteed...
Words: 2632 - Pages: 11
