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eCommerce, Communications and the Global Internet Community.
In our increasingly online world, cyberspace is still experiencing "gold fever", but there have been and will be many casualties. Only the innovative, responsive, financially sound and flexible will survive. Many new markets are joining the world...
eCommerce Web Site Building: Where Do I Start?
Building a web site isn't something that is really cut and dry. There's a huge variety of products and services that can either help you get your web site where you want it or simply confuse you. It's also important that you make the right choices...
Meeting the UK Ecommerce Regulations
Many UK small businesses with ecommerce web sites are failing to meet the legal requirements of the following acts and directives: Ecommerce Directive 2002 Data Protection Act 1998 Distance Selling Act 2000 This is often due to...
Merchant services add ecommerce functionality to any business
According to paymentonline.com, this includes credit cards
processing systems with a Merchant Account to receive payment
from the customers. Merchant Accounts are an important element
in any ecommerce venture. Merchant services provide...
Web Ecommerce: Where To Begin?
In web ecommerce, you are going to find a wealth of information
about what it is and what it can do for you within minutes of
looking on the web. The problem with this is, it is hard to sort
out the good from the bad and the worthless from...
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Ecommerce Solutions Compared
There are dozens, perhaps hundreds of businesses and
organizations eager to assist and sell product online.
Basically, they fall into four categories: credit card
transactions, digital cash transactions, electronic fund
transfers and telephone billing systems
The right choice for you depends upon your specific business
requirements.
1. Merchant Internet Accounts. Pros: Consumers are familiar with
credit cards with credit card transactions, consumers don’t
have to download and install special plug-in. Credit card sales
lends itself to impulse buying.
Cons: Consumers still have concerns regarding providing
financial information online. This method does not lend itself
well to the purchase of down loadable soft goods, such as
software, art, graphics, etc
2. Electronic Cash Transactions Electronic money is an
arrangement whereby the customer pays for the merchandise using,
well, electronic money. Examples of this are the well known
DigiCash, Cyberbucks, CyberCash, etc. Pros No credit card
transactions are required. No concerns re charge backs. Lends
itself well to micro payments.
Cons Many people are unfamiliar with the concept and shy away
from unknown entities. Eliminates the possibility of impulse
buying, unless both customer and merchant are already in same
scheme. May not be available globally.
3. Electronic Fund Transfers Funds are transferred
electronically from the customer’s bank account to yours. The
best known method is the issuing of electronic checks Pros No
credit card worries. Available to persons who don't have
credit cards.
Cons A very new technology that some perceive as being less
secure than other forms of ecommerce. Many customers aren’t
set up to issue electronic cheques; time required to make the
arrangements eliminates impulse buying. May not be available to
international consumers.
4. Telephone Billing Systems A very new approach, telephone
transactions allow the customer to purchase an item or service,
and the amount is billed to his or her telephone bill. Pros
Eliminates worries about credit cards (for both consumer and
merchant) Safeguards soft merchandise " no possibility of
theft or pirating. Cons Customer is required to download and
install a plug-in. currently only available for soft merchandise
but can do some limited transactions for hard goods. Currently
available for sales using telephone modems and will not work for
transactions over cable modems and ISDN lines.
About the author:
For more information on credit card
processing,please visit http://www.paynetsystems.com
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