Skip to main content

Electronic Payment Schemes

Now, let’s start rolling the e- related stuff!

The twenty-first century way to pay is by electronic or digital cash (or one can say virtual cash also), which allows consumers to pay for goods/ services by transmitting a number from one computer to another. These numbers function much like the serial numbers on "real money”, they are unique and represent a specific amount of actual cash.
Unlike credit-card transactions, electronic-cash transactions are anonymous. E-cash works just like paper cash. Once it is withdrawn from an account it does not leave a trail of digital crumbs. E-cash by its nature is portable and therefore more convenient for mobile commerce (Internet-capable cell phones and personal digital assistants).
Couple of well known players in industry on this domain:
Pay Pal - A U.S.-based system that allows individuals in the United States to send money to each other via email.
First-E - A European, Internet-only bank.
Mondex - Electronic cash that is made available via "smart card."
eCash (formerly DigiCash) - One of the early developers of electronic payment systems
There is variety of options for electronic payments; usual ones include use of credit, debit and charge cards. In order to accept any of aforesaid cards, e business, must have a merchant account, payment-processing software and procedure to protect its customers and itself (most importantJ) against any type of fraud, phishing, hacking related activities.
Labels:

Comments

Post a Comment

Popular posts from this blog

Advantages and Disadvantages of EIS Advantages of EIS Easy for upper-level executives to use, extensive computer experience is not required in operations Provides timely delivery of company summary information Information that is provided is better understood Filters data for management Improves to tracking information Offers efficiency to decision makers Disadvantages of EIS System dependent Limited functionality, by design Information overload for some managers Benefits hard to quantify High implementation costs System may become slow, large, and hard to manage Need good internal processes for data management May lead to less reliable and less secure data
1 comment
Read more

Inter-Organizational Value Chain

The value chain of   a company is part of over all value chain. The over all competitive advantage of an organization is not just dependent on the quality and efficiency of the company and quality of products but also upon the that of its suppliers and wholesalers and retailers it may use. The analysis of overall supply chain is called the value system. Different parts of the value chain 1.  Supplier     2.  Firm       3.   Channel 4 .   Buyer
Post a Comment
Read more

CONCEPTUAL VIEW OF MIS

The concept is a blend of principles, theories and practices of management, information and system giving rise to a single product called MANAGEMENT INFORMATION SYSTEM . The concept of management gives high regard to the individual and his ability to use the information. MIS gives information through data analysis. While analyzing the information, it relies on many academic disciplines like management science, OR, organization behavior, psychology, etc. The foundation of MIS is the principles of management and its practices. MIS uses the concept of management control in its design and relies heavily on the fact that the decision maker is a human being and is a human processor of information. A MIS can be evolved for a specific objective it is evolved after systematic planning and design. It calls for an analysis of business, management views and policies, organization culture and the management style. The MIS,therefore relies heavily on systems theory.The systems theory offers soluti
Post a Comment
Read more