Name and describe various categories of e-commerce.
* The different types of e-commerce are…
* Business-to-business (B2B) is when businesses sell their product to another business, typically wholesalers.
* Business-to-consumer (B2C) is when a business sells to a consumer.
* Consumer-to-consumer (C2C) is when consumers sell directly to each other, like EBay.
* M-Commerce, or mobile-commerce is when a transaction is made over a mobile device such as a smart phone or tablet.
Compare and contrast electronic payment systems. Which type do you use most often? Which type is most applicable for organizations you interact with regularly?
* Credit cards, digital wallets, online check payments, and micro-payment systems are all electronic payment options. A credit card can be used with the information entered, and banks do the transaction works to send money from ones checking account or credit line into the account of a business or another consumer. Digital wallets basically store credit card information so different cards can be easily accessed and selected to make payments. PayPal could be considered a digital wallet. Micro payment systems are basically a tab, making many small purchases that go onto one bill that can be paid in full or partial. Online checking is so consumers can write a check and use it over the internet.
* I use my PayPal account the most because so many websites offer PayPal as a payment option. PayPal stores my credit card, and my personal bank account information for direct transfer of funds. I find this most convenient because some websites only offer payment in one or the other, but with PayPal I can use either.
* Explain how Internet technology supports business-to-business e-commerce.
E-commerce benefits B2B transactions by cutting paper costs, reducing labor costs, being quicker, more accessible, more reliable, and more efficient than traditional transactions. E-commerce also enables...