It/205 Week 5 Checkpoint

As stated in our text, there are various categories of e-commerce and these types are, Business -to-consumer, which is the electronic commerce involving retailing products and services to individual shoppers. BarnesandNoble.com, which sells books, software, and music to individual consumers, is an example of B2C e-commerce. Another category would be Business-to-business, which is the electronic commerce involving the sales of goods and services among businesses. ChemConnect’s Web site for buying and selling chemicals and plastics is an example of B2B e-commerce. The next category on the list is Consumer-to-consumer, which is the electronic commerce involving consumers selling directly to consumers. For example, eBay, the giant Web auction site, enables people to sell their goods to other consumers by auctioning their merchandise off to the highest bidder, or for a fixed price. Craigslist is the most widely used platform used by consumers to buy and sell directly from others. There are two more examples that are emerging as we speak and they are mobile smartphones and dedicated e-readers like the Kindle using cellular networks, and mobile smartphones and small tablet computers using Wi-Fi wireless networks. The use of handheld wireless devices for purchasing goods and services from any location has been defined as mobile commerce. There are many different types of payment systems, but the four major ones are Online Credit Card Payment System, Online Electronic Cash System, Electronic Check System and Smart Cards based Electronic Payment System. The key advantages to these systems vary from privacy, integrity, compatibility, good transaction efficiency, acceptability, convenience, mobility, low financial risk and anonymity, compared to the traditional method of payment systems. There are some feared concerns with the credit card system such as lack of authentication, repudiation of charges and credit card frauds, and also having to reveal credit information at