Perfect Computer Notes

What are the popular e-payment systems? Explain. Explain Different Types of Popular e-Payment Systems The following are the most popular e-payment systems 1) Credit Card 2) Debit card 3) EFT 4) Stored value cards and e-cash 5) e-checks 1: Credit Card   What are different types of e-payment systems in e-commerce The Credit Card is plastic credit card with a magnetic strip issued by a bank or financial institution. Holders of a valid credit card have the authorization to purchase goods and services up to a predetermined amount, called a credit limit. The vendor receives essential credit card information from the cardholder, the bank issuing the card actually repays the vendor, and eventually the cardholder repays the bank through regular monthly payments. If the entire balance is not paid in full, the credit card issuer can legally charge interest fees on the unpaid portion. 2: Debit Card: A debit card is a plastic card issued by banks to customers.

Electronic Credit Card System on Internet Credit cards are the most popular E-Payment method. The Credit Card is plastic credit card with a magnetic strip issued by a bank or financial institution. Holders of a valid credit card have the authorization to purchase goods and services up to a predetermined amount, called a credit limit. There are the following 5 entities involved in Credit Card System as follows: Entities Involved in Credit Card Payment System 1. Card Holders. 2. Merchants 3. Card Issuer (Bank / financial institution for Card Holder) 4. Acquirer (Bank / financial institution for Merchant) 5. Card Brand (Company - Master, Visa card) Process of using Credit Card 1. Issue a Credit card to potential card holder. 2. A person requests to an issuing bank for Credit Card. The bank approves or denies the application. If approved a plastic card is delivered to the customer by mail. The card holder calls the bank to activate the card. 3. Card holder shows ca

Types/Categories/Modes of e-commerce. There are three main types of e-commerce as follows: 1) Business To Consumer (B2C) B2C ecommerce consists of selling goods and services to individual consumers. In this type, consumers or customers can visit the website and purchase goods online. The website will have a StoreFront. This storefront will show product details, pictures and a shopping cart. Shopping cart is used to collect items to purchase. Advantages of B2C e-commerce B2C e-commerce has the following advantages: * Shopping can be faster and more convenient. * Offerings and prices can change instantaneously. * Broadband telecommunications will enhance the buying experience. 2) Business To Business (B2B) B2B e-commerce takes place between two businesses. One business provides services to other business. Examples of B2B include: Online Advertisement, recruiting, sales, marketing, technical support and training. For eample, some companies provide online purchasing