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chapter 11:Online payment system (Online payment methods (4 ways to…
chapter 11:Online payment system
Micropayments and small payment
Micropayment
-for item costing few cents to a dolar
Barrier
-not implemented very well on the web
-people prefer to buy small value items in fixed price
Companies that develop micropayment
-Millicent
-Digicash
-Yaga
-Bitpass
Small Payment
-all payment less than $10
-offered through mobile telephone carrier
Online payment methods
4 ways to purchase items
-cash
-checks
-credit cards
-debit cards
electronic transfer
-small but growing segment
Credit and debit cards
-85% of online payment worldwide
Online payment systems
-still evolving
-cheaper than mailing paper checks
-cost per bill
Privacy and security
-most important to consumers
Characteristic of electronic cash
-spend only once
-convienience
Payment cards
-Payment cards
-Credit card
-Debit card
-Charge card
-Prepaid card
-Single use card
Advantages of payment card
-Fraud protection
-worldwide acceptance
-provide built in security
Disadvantages of payment cards
-per transactions fee
-annual fee
-card transaction is transparent
Hardware based digital wallet
-transmit portions of identity using near field communication
server side digital wallet
-store customers information on remote server
Digital wallet
-entering detail informations
-more efficient shopping
Others card
Stored value card
-credit card,debit cards,charge cards
Magnetic strip card
-holds rechargeable value
Smart card
-plastic card with microchip
Holding electronic cash: online&offline
-consumer has no possessions of electronic cash
Online system payment
Merchants contact the consumer banks
Electronic cash
E-cash,digital cash
-do not use coins or paper document