Phases in Electronic Payment System:- “Electronic payment is a form of a financial exchanger that take place between the buyer and the seller facilitated by means of electronic communications. Electronic payment is a financial exchange that takes place in an online environment.” An electronic payment typically involves the following phases:- Registration:- This phase involves the … Read more
B2B E-commerce:- Business-to-business (B2B) e-commerce is the largest form of e-commerce. It is e-commerce between two organizations. It is also known as e-business and is experiencing an explosive growth rate on the internet. Companies are now mutually buying and selling products and services on the internet. is the sale of goods or services between businesses … Read more
Benefits of Electronic Payment System:- “Electronic payment is a form of a financial exchanger that take place between the buyer and the seller facilitated by means of electronic communications. Electronic payment is a financial exchange that takes place in an online environment.” Benefits of Electronic Payment System:- Following are the benefits of an E-Payment System:- Processing … Read more
What is Bitcoin and how does it work?:- Bitcoin is the talk of the town these days. On one hand, Japan considers bitcoin as a legal tender, while on the other, JP Morgan Chase CEO James Dimon calls it little more than a “fraud”. Investors or traders of Bitcoin faced a chaotic situation after Shanghai-based … Read more
Importance of ECommerce:- E-commerce refers to a wide of online business activities for products and services. It also pertains to any form of business transaction in which the parties interact electronically rather than by physical exchange or direct physical contact. Importance of ecommerce Easy global reach:- E-commerce enables a business organization to reach out to … Read more
Characteristics of electronic payment system: Following are the essential characteristics of electronic payment system: Acceptability:- The payment infrastructure should not only be robust but also available and accessible to a wide range of consumers and sellers of goods and services. The value stored in the electronic cash should be honored and accepted by other banks … Read more
Electronic Payment System:- It an e-commerce environment, payments take the form of money exchange in an electronic form and are therefore called electronic payments, Electronic payments (e-payments) are an integral part of e-commerce and are one of its most crucial aspects. Electronic Payment System “Electronic payment is a form of a financial exchanger that take place … Read more
Electronic cash ( e-cash) system differ in implementation but every electronic cash system must have the following properties:- Monetary value:- Monetary value is present if the electronic cash is backed by hard currency, a bank-certified cashier’s check or bank-authorized credit. When e-cash created by one bank is accepted by the others, reconciliation must occur without … Read more
Electronic cash is a general term that describes any value storage and exchange system created by a private (non-governmental) entity that does not use paper documents or coins and that can serve as a substitute for government-issued physical currency. Because e-cash is issued by private entities, there is a need for common standards among all … Read more
Future prospects of e-commerce in India:- E-commerce has become an integral part of our daily life. E-commerce growth has become means of survival in the new world of e-commerce based trade and business. The growth depends on the availability and price of hardware and software as well as the human resource and educational standards and … Read more