...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...
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...Evolution of E-Commerce E-commerce has become one of the most prevalent changes in the way we do business today. Businesses, before the creation of the web, were typically at a physical location where customers could come, browse, try-on, and purchase goods and services. Some of the disadvantages of this business model were: customers restricted by location, the need for larger amounts of inventory, larger retail space, and more employees to cover customer-service. E-commerce began with the advent of the Internet and started as billboards for information and advertisement purposes. Then as technology developed through the early 1980s, it grew into e-mail purchasing (Compuserve). From there, the World Wide Web, internet browsers (Netscape) and the first security protocol (SSL) were invented. These technologies, combined together, allowed for the safe transmission of data over the Internet and many entrepreneurs looked at new ways to take advantage of these technologies to grow and develop the way they did business. In 1994, the first services for processing online credit card sales were developed along with digital IDs and certificates to verify the identity of online businesses. Then by 1995 Amazon was selling their first products on-line and their customers were from all 50 states and over 45 countries breaking down some of the restrictions of a traditional retail store. With the development of Web 2.0, broad-band services and more affordable and easy-to-use e-commerce...
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...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...
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...E COMMERCE * Define e-commerce? What are the benefits of using e-commerce? The term ‘electronic commerce’ has evolved from electronic shopping, to imply all aspects of business and market processes enabled by the Internet and World Wide Web technologies. DEFINITION- Sharing business information, maintaining business relationships and conducting business transactions using computers connected to a telecommunication network is called E-Commerce. OR The exchange or buying and selling of commodities on a large scale involving transportation from place to place is known as commerce. When all this is done electronically, it is known as “e-commerce”. According to Philip Kotler: E-commerce can be defined as a general term for buying and selling process that is supported by electronic means. Electronic commerce, also known as e-business, a term for all kinds of business that are established electronically especially over the Internet. This includes both electronic sale (internet shops) and B2B transactions, i.e. business between two companies. It is any online transaction of buying and selling where business is done via Electronic Data Interchange (EDI). E-Commerce can be defined from different perspectives – 1. Communications perspective, 2. Business process perspective, 3. Service perspective and 4. Online perspective. E-commerce from communication perspective is the delivery of information, products or services, or payments via telephone lines, computer networks...
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...07-2013 Market Perspective At a glance n E-commerce is growing strongly – global sales are expected to be worth $1.29 trillion in 2013 n Retailers, card issuers, technology companies, banks, mobile network operators and start-up companies are vying for share of online spend n Devices are affordable: tablets cost less than $200 and smart-phones are available at $50 n Secure technology developments are driving mobile commerce n Companies are making increasing use of consumer data to inform and guide their operations 21st Century Themes Mobile and e-commerce are reshaping consumer behaviour Affordable tablets, smart-phones and portable computers are changing the way that consumers shop and pay, whether online or on the go. In 2012, global e-commerce sales topped the $1 trillion mark for the first time and these sales are expected to grow to $1.29 trillion in 2013.1 The proliferation of internet-connected devices is helping to create new technologies, consumer applications, personal finance services and payment options. There will be considerable commercial opportunities linked to this changing consumer behaviour as merchants and payments companies seek to enhance their understanding of consumption patterns through analytics. The companies most able to collect and exploit unstructured data could be in a very strong position to understand the intricacies of consumer behaviour. Mass expansion of devices, networks and software In the race to win market share, retailers...
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...Case 3: Amazon: One E- Store to Rule Them All. 1. In what way does Bezos’s decision to develop and deliver the Kindle show systematic and intuitive thinking? First, Bezos has shown his intuitive thinking in the decision of unveiling Amazon Kindle, a new device that is completely outside Apple’s catalog though Amazon still sold Apple’s iPod. Furthermore, he introduced to Medias his product, it seemed like a declaration to Apple. Because Apple is a giant of technological industry, so the situation would be complex to be its competitor. However, it was the only way to make a technological evolution by Kindle. As a result, this situation required Bezos to have a quick and broad evaluation for making the decision. Besides, the systematic thinking of Bezos was shown by introducing the free application “Kindle for iPhone and iPod Touch” when he realized the benefit of allowing readers to read books on a variety of devices. After, in order to upgrade Kindle, Amazon acquired Touchco Company, which specialized in touch screen technology. These decisions are systematic because Bezos had to analyze the situation step- by- step, thoroughly and carefully with full of information towards an effective and logical decision. 2. How do you describe the competitive risk in Amazon.com’s environment as it leads the market for digital book downloads? Being the leader of digital book downloads market; Amazon.com is likely to face to the competitive risk from another e-commerce companies. Obviously...
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...Corporate strategy report on the online retail Industry (AMAZON AND ALIBABA) Introduction This report will first analyse the global online retail industry by showing its evolution, characteristics and future outlook. It will also analyse the competitiveness and strategies used by Amazon Inc. and Alibaba Group to dominate the market as well as give an insight of their future challenges and some concrete strategic suggestions for how these firms might deal with them. The industry lifecycle stages is a famous model explored by Michael Porter. According to him, the industry is one of the most important factor of a firm’s environment (Porter, 1980). The global online retail is still at the beginning of its growth cycle. It is also one of the most promising and therefore attractive industry. It has experienced a compound annual growth rate (CAGR) of 22.6% between 2010 and 2014. The sector grew by 19.1% in 2014 to reach a total value of $974.5 billion and is expected to grow by 114.5% by 2019 compared to 2014 to reach a value of $2,090.2 billion (MarketLine, 2015). The industry lifecycle stages is a famous model explored by Michael Porter. According to him, the industry is one of the most important factor of a firm’s environment (Porter, 1980). The global online retail is still at the beginning of its growth cycle. It is also one of the most promising and therefore attractive industry. It has experienced a compound annual growth rate (CAGR) of 22.6% between 2010 and 2014....
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...The Company 1 Products and Services 1 The Market 1 Financial Considerations 2 Company Summary 3 Start-up Summary 3 Company Ownership 4 Company Location and Facility 4 Products 4 Sales Literature 4 Technology 4 Future Products 5 Market Analysis Summary 5 Market Segmentation 5 Target Market Segment Strategy 5 Industry Analysis 6 Web Plan Summary 6 Website Marketing Strategy 7 Development Requirements 7 Strategy and Implementation Summary 8 Competitive Edge 8 Sales Forecasts 8 Management Summary 8 Organizational Structure 9 Management Team Gaps 9 Financial Plan 9 Important Assumptions 9 Break-even Analysis 10 Projected Profit and Loss 10 Projected Cash Flows 10 Exit Strategy 11 Executive Summary Introduction SmartKids.com.my is an e-commerce start-up company positioning itself to become the market leader in offering bright children an entertaining place to interact with each other, the Web, educators, and the world in general. It generates traffic first, valuation for investors, and eventually commerce and profits. It is a healthy place for kids to play, for parents and schools to buy, and a creative and fair work environment for employees. The SmartKids.com.my e-commerce project is the natural evolution for the SmartKids.com.my Internet presence. The site will market and sell selected toys, books, and software products. It will also produce Web products and Web applications that will increase market share, promote name recognition, and maximize...
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...Campus BACHELOR OF COMMERCE Introduction to Business HBC 2102 YEAR 1 SEMESTER 1 MAY 2016 Assignment Due Date: 11th June 2016 Question 1- Distinguish between e-commerce and e-business? (4 marks) E-commerce is an abbreviation used for electronic commerce. It is the process through which the buying, selling, dealing, ordering and paying for the goods and services are done over the internet. In this type of online commercial transaction, the seller can communicate with the buyer without having face to face interaction. Some examples of real world application of e-commerce are online banking, online shopping (Jumia.co.ke), online ticket booking (Jambojet.co.ke), social networking (selling goods on facebook.com). Electronic Business, shortly known as e-business, is the online presence of a business. It can also be defined as the business which is done with the help of internet or electronic data interchange. E-commerce is one of the important component of e-business, but it is not an essential part. E-business is not confined to buying and selling of goods only, but it includes other activities that are also part of business like providing services to the customers, communicating with employees, client or business partners can contact the company in case if they want to have a word with the company or they have any issue regarding the services, etc. All the basic business operations are done using electronic media. The major differences between e-commerce and e-business are; ...
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...Business Strategy Business Strategy Introduction SmartKids.com.my is an e-commerce start-up company positioning itself to become the market leader in offering bright children an entertaining place to interact with each other, the Web, educators, and the world in general. It generates traffic first, valuation for investors, and eventually commerce and profits. It is a healthy place for kids to play, for parents and schools to buy, and a creative and fair work environment for employees. The SmartKids.com.my e-commerce project is the natural evolution for the SmartKids.com.my Internet presence. The site will market and sell selected toys, books, and software products. It will also produce Web products and Web applications that will increase market share, promote name recognition, and maximize efficiency. The Company The present SmartKids.com.my is a start-up company with four full-time employees. The company was incorporated late 2007as Galaxy Food and Technology owned by its principal founders, at 25% ownership each. The company has a single office in Ampang, Selangor. Our key competitive advantage is the in-house knowledge base we have developed. Our competitor spends five to 10 times the amount of money we do outsourcing to expensive companies for services we perform in-house. The same will take place with the SmartKids.com.my website. We already have the SQL™ server and ColdFusion™ programming expertise, and we will be adding the...
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...AARONG – THE BRAND STORY The Beginning Aarong started with a clear ‘Purpose’, a purpose that emanated from BRAC’s core vision of alleviating poverty and empowering people towards a better future. BRAC started its operations soon after the liberation war, on resettling and rehabilitating refugees returning from India. Later, in 1976, BRAC began training women in sericulture in Manikganj and Ayesha Abed, who worked at BRAC, initiated many of the major activities of Aarong by identifying and experimenting with various crafts that women could produce at home. At that time there were only a few buyers who were scattered across Dhaka. Weeks, even months, would pass before the women would get their payment. The idea of Aarong was born out of a need to ensure that the women silk rearers, embroiderers and block printers of Manikganj were paid for their goods upfront, so that they could feed their families. When BRAC decided to open its own retail outlet under the brand name Aarong, meaning ‘village fair’, it broadened its arms to include other artisans and master craftsmen throughout Bangladesh who were involved in the making of handicrafts for generations, and were finding it extremely difficult to survive in the newly formed country. Bangladesh has a long history of folk art and crafts but in general art and crafts were infrequently marketed as a meaningful enterprise for the poor. In the 1970s, BRAC was examining any and all possibilities for alternative forms of productive...
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...Learning Guide INFS2233 Foundations of Electronic Commerce UQ Business School Faculty of Business, Economics and Law St. Lucia Campus Semester 1, 2009 Any student with a disability who may require alternative academic arrangements in this course is encouraged to seek advice at the commencement of the semester from a disability adviser at Student Support Services. Authors Dr Chris Manning Dr Marta Indulska Dr Dongming Xu Updated by Dr Paul O’Brien Produced by the Teaching and Educational Development Institute, The University of Queensland www.tedi.uq.edu.au Copyright materials contained herein have been reproduced under the provisions of the Copyright Act 1968, as amended, or with the permission of the copyright owner. This material may not be reproduced in any manner whatsoever except for the purposes of individual study. University Provider Number 00025B © The University of Queensland contents Contents Module 1 Introduction to electronic commerce Objectives Basic elements of electronic commerce (EC) 1 1 3 Differences between electronic commerce and traditional commerce 5 New ways of doing business with electronic commerce History of electronic commerce (EC) Planning an e-commerce project Legal, ethical and international issues Case study guidelines 6 8 10 10 11 Module 2 Business decision-making and planning for electronic commerce 17 Objectives Planning an e-commerce project Economic models Competitive advantage and electronic marketplaces...
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...Payments Plc. 2010 highlights Improved financial performance Business Transformation programme - simplification p p Newteller stored value platform operational Strengthened management team and Board Substantial progress on delivering Group 3 year strategy Transformational acquisition of Optimal Payments post year-end a s o a o a acqu s o o Op a ay e s pos yea e d 4 © Optimal Payments Plc. www.optimalpayments.com Optimal Payments Plc – who we are … NEOVIA Financial Plc + Optimal Payments Transaction closed 1 February 2011 NEOVIA renamed O ti d Optimal P l Payments Pl on 1 March 2011 t Plc M h Focused on providing payment solutions to online merchants and consumers through our “twin pillars” Straight Through Processing Stored Value Processing of transactions, either gateway or bureau (assumes some credit risk) for online merchants Products that allow the consumer to hold monetary value via an eWallet and/or card (e.g. prepaid card) which can be used to pay for transactions at merchants A truly international scale player in online payments - proven, trusted, innovative Listed on London’s AIM market (OPAY.L) – market cap US$120m (£75m) 5 © Optimal Payments Plc....
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...逢 甲 大 學 國際貿易學系研究所 碩 士 論 文 The Integrated Business Model for E-Commerce 指 導 教 授：黃焜煌 博士 研 究 生 ：譚雅 中華民國一百年一月 The Integrated Business Model for E-Commerce Abstract In today’s ever developing e-commerce world, the success of any enterprise strongly depends on its chosen business model. Since the peculiarities of each firm’s external and internal environment differ drastically, sometimes it is difficult to find a unified scheme for any organization to implement. Therefore, the purpose of this study is to create a universal business model, the Integrated Business Model for E-Commerce, which could be applied to any business. This Model consists of nine main categories, which in their turn are subdivided into different business models. Through its major characteristics:1) it can be implemented for the analysis of any business; and 2) it can be used for the future investment purposes; the Integrated Business Model will serve companies as an efficient tool in the analysis and evaluation of their business. Keywords: e-commerce, integrated, business model, categories ii FCU e-Theses & Dissertations (2011) The Integrated Business Model for E-Commerce CONTENTS CHAPTER 1 Introduction ..................................................................... 1 CHAPTER 2 Literature Review ............................................................ 3 CHAPTER 3 The Integrated Business Model ...................................... 9 3.1 Creating an Integrated Business Model ...
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...auditor’s report to develop a different grading system and increase the value of auditing to society? Regulatory attempts to improve the functioning of capital markets often try to make corporate activities more transparent. The International Auditing and Assurance Standards Board (IAASB) invited comments on its proposals contained in “Improving the Auditors Report,” with an exposure draft expected to be issued by June. These proposals are intended to make the audit report more useful, and to better communicate the role of auditors. Auditors’ boilerplate, essentially pass/fail, reports reveal little of the fine-grained understanding they gain about the inner workings of their clients, including internal controls, accounting policies, disclosure and governance. The IAASB proposes to replace the current three-paragraph standard by a new four-page report that will add two new elements: an opinion about management’s use of the going concern assumption and an auditor commentary. The rationale for this five- or six-fold expansion under the proposal is that the commentary should help users better understand the audited financial statements and the audit. A sample report in the proposal includes comments on litigation, goodwill, financial instruments, and audit strategy for verifying revenue, receivables and cash receipts, the entity’s internal control over these items, involvement of other auditors, responsibilities of management and responsibilities of the auditor. Repeated...
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