Electronic Payment Systems Essay

Electronic Payment Systems Name and describe various categories of e-commerce. 1. Business-to-Consumer (B2C) is when a company sells its merchandise directly to the customer via the Internet like eBay. 2. Business-to-Business (B2B) is when two businesses transact between each other online like Internet consultants and website development. 3. Consumer-to-Consumer (C2C) also referred to as peer-to-peer is when two consumers transact business between each other which may or may not involve a third party. Examples of these are Napster, Kazaa, and Limewire. . Consumer-to-Business (C2B) is when the consumers offer up projects or business to various companies to bid on the job acceptance. Companies like Elance provide the place for these kinds of transactions to take place. Compare and contrast electronic payment systems. 1. Digital Wallets offer the storing of the buyers personal information and fills this in at checkout making it un-necessary for the buyer to have to manually input this each time they want to make a purchase. 2. Micropayment are designed for payments under $10. 0 that are generally too small for credit card payments 3. Accumulated balance digital payment systems enable the user to make micropayments as well as purchases and the debit balance it stored for future payment through credit card or phone bill. 4. Stored value payment systems enable the user to make instant payments based on a stored digital balance like PayPal. 5. Digital Checking enable the user to extend the functionality of their existing checking accounts for online shopping and are processed much faster than the conventional checking systems. . Electronic billing presentment and payment systems are used for the payment of recurring bills. They offer viewing of the account transactions and reminders of due dates as well as payment options through existing credit card accounts or bank transfers. Which type do you use most often? I use the PayPal system most often and mainly with eBay but I have used it with other sites as well. Which type is most applicable for organizations you interact with regularly?

Again, I will have to say the Stored Value Payment System of PayPal is most applicable for my interactions. Explain how Internet technology supports business-to-business e-commerce. Internet technology can increase value of products as well as help in the design of new products. It can help in the distribution of digital goods and improve communication between consumers and businesses. Technology has helped to connect more consumers and businesses and provide a wealth of information surrounding the both.

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