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Internet can be considered as one of the most revolutionary inventions of the last century . It is used by different people for different reasons; some people use it to communicate with the other end of the world, some use it to increase their knowledge with the vast information available online . Another area that has made a prominent name in the World Wide Web is E-commerce. E-commerce, which is the process of business transactions on the web; is preferred for its simplicity and ease . However, one of the factors that cause a great degree of concern for customers and merchants is the level of security involved with these business transactions , . The mode of payment in e-commerce transactions is through ‘credit cards’; which have established more opportunities for businessmen but at the same time introduced new problems in the whole process of selling goods.
The fear of fraud in online business transactions keeps on increasing every year due to the increase in the respective crime , , . According to National Consumers League statistics for the year 2007; millions of dollars were lost in e-shopping transactions and have exposed the weakness of the credit card payment system . Credit card fraud and identity theft  are the two most prevalent security risks.
In the past, many efforts have been done to secure online transactions and make this medium a trusting one. During such efforts, the protocol of Secure Electronic Transactions (SET) was developed to secure credit card information from several kinds of attacks present online . Secure Socket Layer (SSL) also helps in providing a secure environment as it provides an encrypted medium to transfer credit card information . The use of biometric has also been proposed by one of the researchers; this proved helpful to prevent identity theft and any false authorization regarding the credit card information. Numerous aspects have to be considered
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In electronic commerce, there are instruments that play important roles in ensuring success operation of online trading and creating a fully functional hassle free electronic business is not an easy task. Without a doubt, one of the most important factors influencing electronic business is the mode of payment accepted by the website and integrated into shopping cart of a business.
E-commerce means that the company runs their business online, not like the traditional business way. We have to go the shopping mall or store to get goods that we need, E-Business is the enabling of electronic communication between any two or more participants in a business relationship. It helps companies capture abroad business fields.
Due to the security implication of transmitting data via the internet, the data (binary) can be encoded on transmission and decoded on retrieval. The use of cryptography in this case tries to prevent eavesdropping by unwelcome parties.Even with the use of cryptography to protect calls; hijacking of calls also proves to be a major threat.
In such context, key objective of this paper is to recommend suitable e-payment system for the client that can not only help them to collect payment from customers but also to generate brand awareness regarding e-commerce business of client among customers.
New business models inspired by the new technology break down traditional boundaries between business partners, in essence making all participants in a business transaction part of an expansive extranet. For many companies, a web site becomes one of the main tools which help to connect the organization with potential customers and suppliers.
E-Commerce and M-commerce operates on different technologies and modes of contacting the customer, for a normal user, both the terms sounds similar in terms of general Utility. Still while maintaining the similarity of utility, E-commerce and M-commerce are diversified and can be stated a competitive applications of technology trends.
The major cause of these developments is attributed to the effect of the internet technology. Regardless of how it is being used for, internet is the most relevant factor that has influenced domestic and international markets for
E-commerce has reduced costs and time spent of supply chain activities.
Electronic commerce is the use of technology to perform business process activities that entail the exchange of information, products and
Pay Pal is a convenient method for receiving payments from customers for purchases made online, as well as for the transfer of funds. Its advantages and disadvantages are given with the major advantage being its ease of use and low cost while arbitrary locking of accounts is the main disadvantage.
6 Pages(1500 words)Essay
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