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New Payment Form in Times of Globalisation - Report Example

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The paper "New Payment Form in Times of Globalisation" describes that online methods of payments are vulnerable to fraud. An example is Pay Pal whereby the site is vulnerable to hackers, who can use their computer skills to hack into the website and steal money…
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New Payment Form in Times of Globalisation
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Download file to see previous pages Explain that the major challenge to marketers is on the best methods of influencing customers to buy their products.
Because of the existence of this challenge, companies have come up with new methods of meeting the various needs of their customers. Because of the emergence of these needs, it is necessary to develop a payment which customers find it easy to use. Brennan & Murphy (2013, p. 41) explain that these companies came up with new models of payments, that has managed to revolutionize the manner in which business is conducted in the world. Belch and Belch (2012, p. 53) identify have identified pay pal and mobile money as some of the new methods that make it easier for people to transact their businesses.
For example, through the use of Pay Pal, it is possible for business organizations and consumers to trade through the internet. This makes it easy to trade with people who are geographically separated. Miller (2006, p. 112) explains that the development of mobile money is also another new model of new payments, that has revolutionalized the manner in which people are able to transact their businesses. Chatain (2008, p. 57) explains that banking organizations such as Lloyds Bank and HSBC provide services in mobile money. This involves a situation whereby consumers have the option of accessing their money through their phones. These are new strategies of doing business, and companies use them for purposes of achieving a competitive advantage over rival companies.
New forms of payments refer to the recent ways that are used for purposes of conducting commerce. This type of payment has emerged because of the existence of digital technology. The major idea that exists under this type of payments is based on the fact that it helps in promoting the concepts and principles of e-commerce. E-commerce is the kind of trade that is normally carried out through the use of the internet or other electronic models or channels of communication. ...Download file to see next pages Read More
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