The Costumers Perception In Security

Published Date: 02 Nov 2017

Generally defined, electronic payment (e-payment) is a form of a financial exchange that takes place between the buyer and seller facilitated by means of electronic communications. Electronic payment systems (EPSs) are utilized to facilitate the most important action after the customer’s decision to pay for a product or service namely, to deliver payments from customers to vendors in the most effective, efficient, and problem-free way. The need for online payments was first addressed by using extant payment methods of the offline world for online payments.(1) ..

A rapid growth of electronic technologies has transformed the way people transact business. E-commerce application like e-banking, e-tailing and so on have expanded as electronic mediums such as the internet and mobile devices are integrated into daily activities.(2)..E-payment is defined as the transfer of an electronic value of payment from a payer to a payee through an e-payment mechanism.(3)..E-commerce is the procces of dealing with the customers about buying or selling comodities or getting any type of services on the web.practically many terms are using to refer to e-commerce like e-banking,online banking,e-payments and Internet banking,these terms are used alternately.E-commerce constructed on e-payment systems and it became a main factor in business functions in most of the organizations and also it has become one of the most important effects that can affect the well managed businesses and financial procedures.It is considers as a very important element in the increamental growing of the industry because its very influential,suitable and rapid way for managing trade.

1.1.Types of e-commerce

Electronic-cash: transactions are settled via the exchange of electronic currency.

Pre-paid card: customers use a pre-paid card for a specified amount by making an entry of the unique card number on merchant sites. The value of the card is decreased by the amount paid to the merchant.

Credit cards: a server authenticates consumers and verifies with the bank whether adequate funds are available prior to purchase; charges are posted against a customer’s account; and the customer is billed later for the charges and pays the balance of the account to the bank.

Debit cards: a customer maintains a positive balance in the account, and money is deducted from the account when a debit transaction is performed.

Electronic checks: an institution electronically settles transactions between the buyer’s bank and the seller’s bank in the form of an electronic check.-commerce.

1.2.Importance of E-commerce

Exploitation of New Business Broadly speaking, electronic commerce emphasizes the generation and exploitation of new .business opportunities and to use popular phrases: "generate business value" or "do more with less".

Enabling the Customers Electronic Commerce is enabling the customer to have an increasing say in what products are made, how products are made and how services are delivered (movement from a slow order fulfillment process with little understanding of what is taking place inside the firm, to a faster and rt1ore open process with customers having greater control.

Improvement of Business Transaction Electronic Commerce endeavors to improve the execution of business transaction over various networks.

Effective Performance It leads to more effective performance i.e. better quality, greater customer satisfaction and better corporate decision making.

Greater Economic Efficiency We may achieve greater economic efficiency (lower cost) and more rapid exchange (high speed, accelerated, or real-time interaction) with the help of electronic commerce.

Execution of Information It enables the execution of information-laden transactions between two ore more parties using inter connected networks. These networks can be a combination of ‘plain old telephone system’ (POTS), Cable TV, leased lines and wireless. Information based transactions are creating new ways of doing business and even new types of business.

Incorporating Transaction Electronic Commerce also inco11'orates transaction management, which organizes, routes, processes and tracks transactions. It also includes consumers making electronic payments and funds transfers.

Increasing of Revenue Firm use technology to either lower operating costs or increase revenue. Electronic Commerce has the Potential to increase revenue by creating new markets for old products, creating new information-based products, and establishing new service delivery channels to better serve and interact with customers. The transaction management aspect of electronic commerce can also enable firms to reduce operating costs by enabling better coordination in the sales, production and distribution processes and to consolidate operations arid reduce overhead.

Reduction of Friction Electronic Commerce research and its associated implementations is to reduce the "friction" in on line transactions frictions is often described in economics as transaction cost. It can arise from inefficient market structures and inefficient combinations of the technological activities required to make a transaction. Ultimately, the reduction of friction in online commerce will enable smoother transaction between buyers, intermediaries and sellers.

Facilitating of Network Form Electronic Commerce is also impacting business .to business interactions. It facilitates the network form of organization where small flexible firms rely on other partner, companies for component supplies and product distribution to meet changing customer demand more effectively. Hence, an end to end relationship management solution is a desirable goal that is needed to manage the chain of networks linking customers, workers, suppliers, distributors and even competitors. The management of "online transactions" in the supply chain assumes a central roll.

Facilitating for Organizational Model It is facilitating an organizational model that is fundamentally different from the past. It is a control organization to the information based organization. The emerging forms of techno-organizational structure involve changes in managerial responsibilities, communication and information flows and work group structures.

1.3.Advantages of e-commerce