Electronic Payment Methods
Electronic Payment Methods
Contents
Introduction 3
Sizes of Electronic Payments 3
Electronic Means 3
Critical Issues 3
S.W.O.T Analysis 4
Problem Statement 5
Options 5
Recommendation 5
Feasible Solutions 6
Monitoring 6
Evaluation 7
References 8
Introduction Payment systems that use electronic distribution networks constitute a frequent practice in business sector, especially for banking industry. The term of electronic payments includes any payment to businesses, banks, and public services from citizens or businesses through a telecommunications or electronic network using modern technology. During these years, the important technological payment has developed rapidly. Moreover they created new social practices, which make the use of the payment systems necessary. Based on different countries, people prefer different forms of electronic payment system. The market has been built from traditional financial intermediaries, which offer conventional electronic payment services. In 2003, 94.1 percent of all worldwide e-commerce transactions were conducted using credit cards. Even today, credits cards are very popular form of online payment all over the world, especially for the developed and fastest developing countries.
Sizes of Electronic Payments There are four major sizes of electronic payments: 1) Business-to-Business (B2B); 2) Business-to-Consumer (B2C); 3) Consumer-to-Business (C2B), and 4) Consumer-to-Consumer (C2C). Each of them has special characteristics that based on different value of order. Furthermore, based on different methods transferred online, there are many types of electronic payment systems, such as PC-Banking, Credit Cards, and E-Cash.
Electronic Means
There are several electronic means to include bank and non-bank providers in three distinct
Contents
Introduction 3
Sizes of Electronic Payments 3
Electronic Means 3
Critical Issues 3
S.W.O.T Analysis 4
Problem Statement 5
Options 5
Recommendation 5
Feasible Solutions 6
Monitoring 6
Evaluation 7
References 8
Introduction Payment systems that use electronic distribution networks constitute a frequent practice in business sector, especially for banking industry. The term of electronic payments includes any payment to businesses, banks, and public services from citizens or businesses through a telecommunications or electronic network using modern technology. During these years, the important technological payment has developed rapidly. Moreover they created new social practices, which make the use of the payment systems necessary. Based on different countries, people prefer different forms of electronic payment system. The market has been built from traditional financial intermediaries, which offer conventional electronic payment services. In 2003, 94.1 percent of all worldwide e-commerce transactions were conducted using credit cards. Even today, credits cards are very popular form of online payment all over the world, especially for the developed and fastest developing countries.
Sizes of Electronic Payments There are four major sizes of electronic payments: 1) Business-to-Business (B2B); 2) Business-to-Consumer (B2C); 3) Consumer-to-Business (C2B), and 4) Consumer-to-Consumer (C2C). Each of them has special characteristics that based on different value of order. Furthermore, based on different methods transferred online, there are many types of electronic payment systems, such as PC-Banking, Credit Cards, and E-Cash.
Electronic Means
There are several electronic means to include bank and non-bank providers in three distinct
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