Sunday, 14 September 2008
Tuesday, 9 September 2008
sUmMariZe...
As we already know, E -commerce is the selling and buying of goods and services over the network and it can be conducted on the Web or on other network. It is divided into the following major types:
business to consumer, business to business,
consumer to consumer, business to employee and government to citizen.
E-commerce offers many benefits to organization, consumer and also society.
In everyday life, we are dealing with a lot of things to be done. However the emergence of E-commerce can be an advantage for us in completed all of the task. For example, we do not have to go to any of storefront to buy things or what so ever. Instead, we can just sit down in front of our PC and surfing over the Web without any limitation time or restriction.
Furthermore, we are able to have the opportunity to reduce our costs.
The E-commerce makes it easy and convenient to shop around for product and services that may be more cheaper and variety. In E-commerce also, we can have an electronic payment via the Web. By just clicking the ‘pay’ button we are like already sent our payment. For example, like paying Astro bill, electric current bill or telephone bill. These following factors are the main reason why im choosing this topic.
In nutshell, E-commerce is very crucial in our everyday life. The combination of the Web interface and the Internet extension of computer networking have opened new opportunity for E-commerce.
In future, my suggestion companies doing E-commerce, must taken step to reassure consumer that their transaction will be secure and their privacy will be respected. If that happen, I sure that E-commerce will be more successful from now….
Comparative evaluation of electronic payment systems
In Business to Consumer, B2C, electronic commerce, it is necessary for the merchant to reduce the risk of non-payment by the customer by processing the payment interactively while processing the customer's order. In Business to Business, B2B, e-commerce there is also a rapidly growing interest in processing payments online. Depending on the customer's choice of payment method, this can be done by validating the customer's credit card number or bank checking account number or by clearing digital cash through the issuer of the cash.
Electronic payment systems securely process such payments and can be implemented by merchants themselves on their own web servers or alternatively, they can be provided to merchants by third party e-payment service providers. This paper describes the mode of operation of a broad range of e-payment systems available today in order to provide a comparative evaluation of their advantages and disadvantages. The analysis is presented in terms of the features of each system and discusses the advantages and disadvantages to the customer, the merchant, the e-- payment service provider and the financial institution. This paper updates earlier work on this topic, e.g. [1], [2], [3].
2. ELECTRONIC PAYMENT SYSTEMS
In this section we analyse how payments are processed when a customer visits a merchant's web site and needs to make an electronic payment. Some merchants process the payment on their own web servers, whereas other merchants outsource this function to an electronic payment service provider in order to avoid the security concerns and the additional software, which is necessary in order to process the payments themselves. Outsourcing of information systems functions is part of the trend towards increased use of Application Service Providers, ASPs. Payment processing is an application that an ASP can provide to its customers, which can include both large and small companies. E-payment service providers charge a cost to the merchant, which depends on the number of transactions and is typically a few tens of dollars for a few thousand transactions per month.
There are four advantages to the merchants in outsourcing this function to an electronic payment service provider.
* The merchant does not need to obtain "merchant status" with credit card companies, which can be a costly procedure for small merchants. Instead credit card companies accept the service provider's "merchant status".
* The service provider typically has redundant web servers, redundant power supplies and redundant internet access so that if one unit fails, the backup comes into operation automatically.
* An e-payment service provider can handle focused loads on its web site caused by the merchant running promotional campaigns. The merchants own web server may not be able to handle a large sudden load of customers, whereas an e-payment service provider has a more powerful server, which is capable of handling many customers, from many merchants.
* The cryptography can be handled by hardware acceleration on these large servers, whereas on a regular web server, using software consumes significant processor power.
David Wright. 2002. Comparative evaluation of electronic payment systems.
CNET Networks, Inc., a CBS Company. http://findarticles.com/p/articles/mi_qa3661/is_200202/ai_n9069836.
(February 2002).
CHAPTER 6
ELECTRONIC COMMERCE : ELECTRONIC PAYMENT
Electronic Payment Systems Can Generate Annual Savings.
Electronic-based payment systems can generate annual savings of up to one percent of the gross domestic product (GDP), Bank Negara Malaysia's governor Tan Sri Dr Zeti Akhtar Aziz said Tuesday.
Research showed that electronic-based payment systems could become a catalyst for promoting increased consumption spending while enhancing financial services to the unbanked communities, Zeti said.
"This not only promotes, for instance, the opening of bank accounts among the target group. It also enables them to enjoy a lower cost of financial services and a better means of saving, thus benefiting the economy as a whole," she said in at the opening of Mobile Digital Signature Symposium 2008 here.
The half-day symposium was organised by the Malaysian Communications and Multimedia Commission (MCMC) and themed "Building an Interoperable Platform with a Common Digital Identity for Secure Mobile Transactions in Malaysia".
Zeti said as electronic payment channels become more easily accessible, user-friendly and cheaper, it provided an opportunity to shift the remittance flow from informal to formal channels.
"Being a strategic tool to achieve higher economic growth, electronic payment increases operational efficiency and productivity levels through expedient payments and receipts of funds," she said.
"Accelerating the country's migration to electronic payments has therefore become a part of Malaysia's larger national agenda to increase the efficiency of payment systems and ultimately help improve the competitiveness of the economy."
Cash payments in Malaysia still accounted for a large portion of the number of transactions in the economy, but it is expected that this trend will level off in future and stabilise with the increased use of electronic means of payments, Zeti said.
She said credit cards, ATM (automated teller machine) cards and debit cards, including the e-purse application embedded in the MyKad, were among the card payment possibilities in the country.
"The increased use of cards is an international trend and is expected to gain significance in Malaysia. While considerable progress has been made in promoting the adoption of electronic payment with notable growth registered across all electronic payment methods, paper-based payment still remains the most popular form of payment," she added.
According to Zeti, cheques continued to account for a high percentage of the total non-cash retail payments while currency-in-circulation as a percentage of the GDP remained relatively high at 5.7 percent.
Malaysian consumers on the average made only 0.7 transaction via direct debit and credit transfer and 0.2 transaction through debit card transaction in 2006, she said, adding that this contrasted sharply with 84.7 and 109.5 transactions respectively in Sweden.
In this regard, Bank Negara has formulated an electronic payment roadmap aimed at bringing together relevant stakeholders to address the barriers that have impeded its increased adoption in a comprehensive and strategic
manner.
The roadmap, Zeti said, identified the priority areas requiring attention and collaboration to promote an environment conducive for the greater use of electronic payment in financial transactions.
Oman, Fatah. 2008. Electronic Payment Systems Can Generate Annual Savings.Bernama Capital Tree Sdn Bhd. https://www.money3.com.my/MalaysiaFinancialNews/NewsContent.aspx (accessed 03/06/2008).
Tuesday, 2 September 2008
name: nur hidayah mohd din
date of birth: 21 February 89
currently live in: gombak,kL
studying in: CFS,iium..pj
course taken: ICT
love to: live in a harmony n peace,being in love with smbdy
hate to: being too proud
fav. food: laksa penang,fried chick
what i want in my live: to be in the blessing of Allah,...have my own family n successful in whateva i do..
opss...sorry,lupe plak..
I think that's all....xtau nak tls pe darrr...
bOut mY sElf...
rEallY simpLe...,??
i tHink sOo..
