With the invention of the internet, trade experienced a fundamental transformation; its inception introduced Electronic Funds transfers thus enabling banks and businesses to transfer money in a timely and efficient manner, as credit cards allow consumers to obtain credit easily. Moreover, the creation of the World Wide Web changed the dynamics of business dramatically, bringing many troubles along with its benefits. By the mid-nineties, many different companies started to boast online retail options and services which created a substantial breakthrough in banking and shopping. Graphical user interfaces created a comfortable shopping atmosphere, and Secure Electronic Transaction (SET) facilitated secure financial transfers. Thus, electronic commerce, otherwise known as eCommerce, was born; electronic business transactions replaced the traditional commerce practice of physical interaction, and it had an enormous impact on the economy by becoming its driving force.
Electronic commerce largely benefitted the financial system. It enhanced productivity by providing a quick way of exchanging goods and services conveniently; it encouraged greater consumer participation regionally and globally by increasing accessibility and becoming the main street; and reduced costs as a result of cheaper production and storage as well as employment. A start-up company no longer has to pay outrageous rental prices for a storefront at a high-end shopping district to be successful. Nowadays, companies can save by lowering inventory levels and costs by implementing the just-in-time inventory method. Automated systems reduce overhead and payroll costs. Additionally, the scope of marketing widened as promotional content and advertisement spread to the intern...
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...ey transfer companies such as PayPal enable merchants to recieve payments and money transfers safely and easily.
The economic boom of the 1990’s is largely attributed to the development of the Internet; however, crooks and greedy individuals can exploit it to their benefit. Thus, just as Amazon became the local Wal-Mart and Politico replaced the New York Times for many, thieves and hackers can now rob one without ammunition rather by spoofing emails or pharming. One ought to remain wary of suspicious looking websites and look out for symbols from firms that confirm its validity. Overall, however, eCommerce contributed much to business and continues to enhance the financial markets. Electronic commerce will surely continue to evolve in the upcoming years and will most certainly bring renewed threats and concerns; yet, it can be dealt with, and its payoff is worthy.
When you think of the internet, usually what first comes to mind is social networking, online marketplaces, and other places that don’t sound that bad. Look deeper and you’ll find that the internet isn’t as nice as you thought it was. This “dark side” of the net is comprised of everything looked down upon in the real world – drugs, weapons, false identities, and even hit men for hire exist in this rough-and-tumble darknet. Not just physical products, but virtual products float around as well; from term papers to file sharing and even e-currency populate this dark area.
PayPal was launched in 1998 as an online transaction method where users can pay and receive money online. It’s located in San Jose, California and eBay acquired it in 2002. Users can pick their preferred payment methods such as credit cards, bank accounts, PayPal balance, PayPal plus credit cards and PayPal buyer accounts do their transactions without revealing their financial information. It has a user base larger than 152 million globally and available in 24 currencies and 203 markets across the world [source: PayPal]. So PayPal is recognized as one of the fastest, safest and easiest way of doing online transactions and already received a number of global awards (more than 20) so far.
Introduction PayPal, Inc (PayPal) provides online payment solutions to individuals and businesses worldwide. It allows credit cards and bank accounts money transfers and payments to be made through the internet (Niranjanamurthy, 2014). Established in 1998, PayPal has since moved $282 billion in payment volume in more than 26 currencies across 203 nations in 2015 alone, generating a total revenue of $9.24 billion (PayPal About - Home, n.d.). PayPal’s Value - “At PayPal, we put people at the center of everything we do.” PayPal focuses a lot on its consumers by making their services convenient and flexible for them when dealing with payments.
Cyber Monday impacted the use of media in the U.S. Online shopping has grown tremendously in the past years. More and more individuals are finding it easier to shop online than in stores because they have the luxury of doing so in their own home. Because of this, Online shopping boosted economic growth across the U.S and even in other foreign countries. According to “Cyber Monday, Green Monday and the impact worldwide” it states that, “Originally coined by Shop.org in 2005, “Cyber Monday” has inspired additional special shopping days that provide more discounts to shoppers and encourage consumers to continue working on their holiday gift lists” (Swerdlow, 2014).
The ability to conduct warfare through technological methods has increased information security awareness and the need to protect an entity's infrastructure. Subsequently, cyber warfare produces increased risk to security practitioners that employ technology and other methods to mitigate risks to information and the various systems that hold or transmit data. A significant risk to information lies in the conduct of electronic commerce, hereinafter called e-commerce. E-commerce is the purchasing or selling of goods and/or services through the internet or other electronic means (Liu, Chen, Huang, & Yang, 2013). In this article, the researchers will discuss cyber warfare risks, present an evaluation of established security measures, identify potential victims of identity theft, and present an examination of the security of e-commerce companies....
Nature of doing business, over a period of time has changed with the development in the information technology. It was believed that the reduced cost of transactions done electronically will lead to decrease or disappearance of the traditional intermediaries which will reflect a change in the electronic value chain. The effect of electronic business will restructure the traditional market – Disintermediation where the traditional intermediaries will lose its existence; Re-Intermediation where they will be forced to set apart and will re-develop in the electronic business; and Cybermediation where entirely new markets will be formed for the intermediaries.
Created to be a military intelligence weapon by the US Defense Department, the Internet is now a vast mediocre commodity. The Internet is a publicly accessible computer network connecting many smaller networks from around the world. Therefore, people from every corner and crevice of the world can be found on the web. The Internet is becoming an increasingly popular form of entertainment and supplements the television. People of all types go online to entertain themselves, keep up to date with the news, and now with e- commerce, conduct their business. However, anything that appears to be too good is usually just that. "People of all types" includes the opportunistic criminals of the world whom look only to benefit themselves at the expense of other's lives, misfortune, and misery. With good intentions the internet can be a safe place, but the Internet can also be used as a mediated channel of communication in which criminals can research, conduct, and conceal their crimes with little or no resistance from security. It is a channel that has given birth to a new breed of criminals that have only just begun to uncover the depths and horrifying potential of cyber crime.
E-commerce, a system by which people can buy, sell and deal without even seeing the person on the other side, has taken a front seat in improving the economy of countries around the world. Technology today has made it possible for monetary institutions to help locate the customers resources and help solve their problems at any given time through online banking.... ... middle of paper ... ...
From PayPal to Debit cards, from EFT to Credit cards, this modern world has been inundated with new ways of making business transactions. Instead of the conventional use of dollars and nickels, now there are electronic payment systems. These types of systems allow for better trust and acceptance between consumer and businesses. In the traditional way of buying a product, one would see a product in person, and pay for it with cash or credit. In e-commerce, the business uploads images of its products online and it enables its customers to shop it using any type of electronic payment system.
payment. PayPal is also available to people in 38 countries. This paper starts with introduction to the company and its services. The
The Internet is a connection of computers across the world through a network. Its origin dates back to the 1960s when the U.S Military used it for research, but it became more available to the public from the late 1980s. The World Wide Web was created in 1989 and browsers began appearing in the early 1990s. Over the last 24 years, the Internet has enabled people to shop, play, do research, communicate and conduct business online. It has also become cheaper and faster in performing different tasks. As much as the Internet has done immeasurable good to society, it has also dominated people’s lives and brought with it an array of cybercrimes. According to Nicholas Carr in his book The Shallows: How the Internet is Changing the Way we Think, Read and Remember (Carr, 2010). He debates on whether the Internet has done more harm than good. People use the Internet daily to exchange accurate information and constantly personal data such as credit cards, passwords and Social Security numbers are travelling through the network from one computer to another. With security measures put in place on the Internet, personal information remains confidential. But unfortunately, criminals have adapted to innovations in technology, and today, more people are increasingly becoming victims of cybercrime. The Internet has had profound effects on the public, both positive and negative. In this paper we will examine how access to personal information has led to an increase in online and offline crimes. The essay will particularly focus on ecommerce and hacking.
Recently, the Internet has become the most significant technology in all over the world, which is not only used by the people to contact with each other but also utilized by the business organizations to become global (Taylor, Caeti, Loper, Fritsch & Liederbach, 2006). Computer and internet enable the business organizations to execute the Electronic commerce business model, which has become very popular. Computers and Internet are a powerful source in the success of globalization and international business. Computers are being used worldwide and due to this, cyber crimes are increasing continuously with a rapid growth (Cheeseman, 2006).
Electronic Commerce as popularly as E-commerce has become a big deal in our growing economy due to the increase use of online systems. E-commerce now of the fastest growing business in the world. The technology has change the way of business. Business that have physical location have now made it an effort to focus their online business. It is the new sort of business platform where you can make use of different technologies like electronic data interchange or transfer document electronically. Online business is an effective of sales.
E-commerce or electronic commerce is carrying out business communications and transactions through computers and over networks. It involves buying and selling of goods and services through digital communication. E-commerce also includes transactions on the World Wide Web and the Internet and means such as electronic funds transfer, smart cards and digital cash. E-commerce covers outward facing processes that interact with customers, suppliers and external partners such as sales, marketing, delivery, customer service, purchasing of raw materials and supplies for production.
In conclusion, e-commerce makes our life much more easier, because it saves time, we can get our goods with in a short period of time, other than that it connects to businesses around the world, we can buy goods that we can’t get from the local market. The last thing we also can get goods that are not available in the shopping mall and with the cheaper price. As I know, using e-commerce to shop online is the right choice for because it is so convenient.