Introduction In this report I will be explaining to you the benefits and negatives of ecommerce. I will also be talking about electronic payments and the risk of on-line fraud and what it could mean for your business. To finish off this report I will be giving my recommendation, but by then I think you will have already made your mind up whether you want expand your business into the area of ecommerce or not. In the benefits of ecommerce section I will be explaining to you the potential benefits that the world of on-line shopping have to offer to you. Then I will explain to you the many benefits of electronic payments on-line and what that could mean for your business. Then in the later section I will tell you about the negatives of ecommerce like having lots of negative exposure on you on-line business and what that could mean for your business and about on-line fraud and what to do to be protected against the thousands of fraudsters on the internet. The Benefits of Ecommerce There are many benefits to setting up a business on-line or extending it to be also on-line. There are also many ways that the payments and purchases can be made on-line, some better and safer than others. I will now give you a brief explanation of the benefits that can be had through the introducing your business to the internet. These days there are businesses of all different sizes, in all different sectors that are using the internet in many different ways. Many big companies like for example Sainsbury's and Tesco's are reporting benefits from the use of the internet. These benefits are cost saving, reductions in inventory, improved customer service, the gaining of new customers and increased sales, and lastly and probably most importantly ... ... middle of paper ... ...f electronic payments like card payments, mail order, on-line payments, bureaus, secure order forms, BACs, alternative payment methods or even no electronic payment method if you want. I would personally choose a program like PayPal which has been tested and is used by eBay. PayPal allows businesses to securely, conveniently and cost effectively receive payments on-line. The product is ideally suited for small businesses and has right now 63.8 million member accounts and is accepted in 45 countries around the world making it an easy and effective way to transact internationally. References http://www.electronic-payments.co.uk http://www.euroconsumer.org.uk http://www.cheshirehenbury.com/ebusiness http://www.ecommerceeducation.com http://www.mbase.com.au/strategy/html/ebusiness_benefits.html Harry Temmink, (2006) Introduction to ICT, Pearson.
Laudon, Kenneth C. Traver, Carol. E-commerce: Business. Technology. Society 3th ed. Pearson Prentice Hall. Upper Saddle NJ, 2007.
Technology plays a big part of the e-retailing industry. It has many positive qualities that impact the industry. Technology simplifies the purchasing process. Since the industry is web based, it helps eliminate the nuisance of not having products when wanted by having the capabilities of placing orders 24/7 at any computer with web access. Technology will also standardize the purchasing process thus reducing processing costs associated with traditional processing.
In summary, “Internet activities are not most significant in competition, such as informing customers, processing transactions, and procuring inputs”. (Porter, 2001) significant corporate assets--skilled employees, proprietary product, and efficient logistical systems – these factors are the most important to keep competitive advantages. In fact, it is foreseeable that the Internet's evolution will come up in the future involve a shift “in thinking from e-business to business, from e-strategy to strategy”. (Porter, 2001)Only by integrating the Internet into overall strategy will this powerful new technology become an equally powerful force for competitive advantage.
Content of site Owing to the fact that it is a new currency, there are not many places where a person can make use of Bitcoins for payment. None of the major online retailers currently accept Bitcoin as a form of payment. It also does not have a physical form and so cannot be used in physical stores. Bitcoin payments are irreversible because there is no central authority or processing agency that can effect a reversal. This includes knowing how to create a wallet, keeping the wallet secure, keeping the identity of the owner of the wallet private and secure, using different addresses for different transactions, and so on.
In today's competing world, many organizations are rethinking their strategies in terms of the online business and its capabilities and culture. Organizations are taking advantage of the widespread web to buy and sell goods from other companies and recently from individual customers. Exploiting these opportunities of convenience, availability and widespread reach of the web or Internet, many companies such as Amazon have benefited from the use of web successfully.
Additionally, the innovative team at SnapCard has developed a great system that allows you to use Bitcoin to order from any website in the world that accepts Visa or Master card.
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.
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.
PayPal is an account-based system that allows anyone with an email address to send and receive online payments. This service is easy
The Internet is rapidly becoming widespread and widely used as a tool for globalization across the world. As the Internet became more easily accessible by most people in the world, the web is bringing significant implications and changes to the way we live, including the way we shop. There is a rapid growth with e-commerce and moving businesses onto the web and retail success is no longer about stores and shopping centers. In developed countries, about two thirds of the population have access to the Internet making the option of online shopping is easily accessible to most people (Valerio). With the ease of shopping in your own home there are many benefits of doing your shopping online. Consumers can easily compare prices online, there is a larger range of products on the web, you can save time by having your shopping delivered right to your doorstep and it also overcomes physical barriers. Over the last decade online shopping has challenged and replaced the traditional means of physically going into shops as the digital world has provided customers with further convenience, flexibility and comfort from shopping from your own home.
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.
The Internet has become a key ingredient of strenuous and busy lifestyle. ‘Internet’ has become the central-hub for communication, explorations, connecting with people or for official purposes. Resultantly, Internet growth has led to a plethora of new developments, such as decreased margins for companies as consumers turn more and more to the internet to buy goods and demand the best prices.
The report also talks about the differences between, advantages and disadvantages of e-business and e-commerce. Recommendations and advice have been given in the end for businesses intending to adopt an e-business dimension.
What's e-business? It is the transformation of every business process through using the internet and associated technologies. In this transformation, each part of the business becomes a part of an intrinsic network, which enables employees, suppliers and customers of a given enterprise to conduct their tasks. People usually try to make a point in differing e-business from e-commence, but as I see, e-commerce is a part of the e-business category, and an important one.