E-commerce- Payment Methods On the Net essays

E-commerce- Payment Methods On the Net essays Almost 360million people worldwide use the internet regularly and one in four of these have made online purchases.Most of these transactions have been made using credit cards because they have had no other option.In this report I will attempt to identify and explain a series of e-payment methods which I could employ in the day to day running of my business.While doing this I will attempt to show the benefits they will bring to my businees and prospective customers alike while briefly including the key features of the payment systems I have identified. These cards store information on a chip contained within the card itself.These chips can store an incredibly diverse amount of information and the ability to store digital signatures and financial information is essential.The cards largely operate on the same principal as top-up phone cards where the chip is topped-up with a monetary amount which is then used for cash purchases.When this cash is spent,the chip is recharged with more money.The level of security and convenience with these cards is high as is the level of privacy and they are widely believed to be a genuine competitor of more widely used credit cards such as VISA and Mastercard.It is my belief that this method of payment would benefit both myself and my consumers for the following reasons: My business will enjoy lower costs due to high credit card network fees being reduced. The consumer also benefits from hidden costs being eliminated. A whole new market should open up to me due to my customers not requiring a credit card to make a purchase,especially in the lower priced goods market where credit card charges make it unprofitable for my business or more expensive for my customers. 2:Saferpay-Credit Card Payment Facilities Saferpay is an internet payment solution which would offer my business as well as consumer card holders a guarantee of secur ...