Analysis of Electronic Payment Systems

Analysis of Electronic Payment Systems

The difference types of e-commerce are business-to-consumer, business-to-business, and consumer-to-consumer. A business-to-consumer e-commerce sells products and services that are retailed to individual shoppers. An example of that would be gohastings.com or booksamillion.com that sells books, software, and compact disks to individual customers. A business-to-business e-commerce involves selling goods and services to businesses. An example of a business-to-business e-commerce is getcommstuff.com that sells products and services related to telecommunication to businesses. A consumer-to-consumer e-commerce involves consumers selling directly to consumers. An example of this kind of e-commerce business would be eBay that allows consumers to sell to each other. These businesses also accept various types of payments from their customers. Credit card systems protects information that is transmitted among users, merchant sites, and processing. This allows a customer to go use their credit card information when paying for merchandise. A digital wallet uses software that stores credit cards and other information to facilitate form completions and payment of goods on the internet. An accumulated balance digital payment system accumulates micropayment purchases as a debit balance that must be paid regularly on a credit card or telephone bill. Stored value payment systems let consumers make instant online payments to merchants and other individuals based on a value stored in an online digital account. A digital checking is an extension of an existing checking account so that it can be used for online shopping payments and are processed faster than traditional paper checks. The last type of electronic payment systems is electronic billing presentment and payment systems that are used for paying routine monthly bills. I have frequently used stored value payment systems and credit card payment