Analysis of Electronic Payment Systems
1/29/14
IT/205
Name and describe various categories of e-commerce.
There are three major electronic commerce categories. There is business-to-customer (B2C) e-commerce, which involves retailing products and services to individual shoppers. An example of (B2C) e-commerce would be bestbuy.com and apple.com, which sell products to individual consumers. Business-to-business (B2B) e-commerce involves sales of goods and services among businesses. An example of (B2B) e-commerce is ChemConnect’s website for buying and selling chemicals and plastic. Consumer-to-consumer (C2C) e-commerce involves consumers selling directly to consumers. An example of (C2C) e-commerce is sites like eBay and Craigslist.
Compare and contrast electronic payment systems. Which type do you use most often? Which type is most applicable for organizations you interact with regularly?
Electronic payment systems are very popular today with increase of Internet shopping. There are quite a bit of different electronic payment systems. The most common system that I use most frequently is credit and debit cards. I think that it so much easier to swipe your card at the store instead of paying with cash and it is the safest way to shop online in my opinion.
Sites do not allow you to pay with cash because it is not a safe way to make transactions and you cannot track it like you could a credit card. Mobile payments have made paying bills a breeze. You can send and receive money from your financial institution by downloading their applications. Person-to-person payments allow people to pay each other using Paypal and even use square, which you can easily plug into your phone and receive payments using a credit card.
Explain how the Internet technology supports business-to-business e-commerce.
Internet technology supports business-to-business e-commerce by providing access to manufacturers and the lowest price from merchants. Internet...