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Analysis of Electronic Payment System

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Jacorey Williams Analysis of Electronic Payment Systems Electronic commerce transactions can be classified in many ways. The three major electronic commerce categories that we have read about are business-to-consumer e-commerce, business-to business e-commerce, and consumer-to-consumer e-commerce. Business-to-consumer (B2C) is an electronic commerce that involves retailing products and services to individual shoppers. BarnesandNoble.com is an example of B2C e-commerce. Business-to business (B2B) is an electronic commerce involves sales of goods and services among businesses. ChemConnect’s Web site for buying and selling chemicals and plastics is an example of B2B e-commerce. Consumer-to-consumer (C2C) is an electronic commerce involves consumers selling directly to consumers by auctioning their merchandise off to the highest bidder, or for a fixed price. Craigslist is the most widely used platform used by consumers to buy from and sell directly to others. Internet technology supports business-to-business by helping reduce cost and provides more flexible platform for linking to other firms. Business are also able to extend digital technology to a wider range of activities and broaden their circle of trading partners. It also enables companies to locate suppliers, solicit bids, place orders, and track shipments in transit electronically. Net marketplaces provide a single, digital marketplace for many buyers and sellers. Private industrial networks link a firm with its suppliers and other strategic business partners to develop highly efficient and responsive supply chains. So basically a customer can log into a suppliers website and order what they need without the use of a sales person. Electronic payment system are in common usage we normally use credit/debit cards, micro payment systems, and digital checking systems. A credit card holder sends information

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