CHAPTER -5 : E-Commerce Paytam System -Technology369kk

E-COMMERCE 

PAYMENT SYSTEM 

An e-commerce payment system is a way of making transactions or paying for goods and services online without using cash or checks. It u    sually involves a payment gateway that links a website to a payment processor, allowing businesses to accept credit and debit cards. E-commerce payment systems are popular due to the convenience and security they offer to both customers and merchants. However, they also have to comply with the rules and regulations of the card issuers and the countries where they operate.

There are different types of e-commerce payment systems such as credit cards, debit cards, digital wallets, bank transfers, cash on delivery (COD), mobile payments, and more.

Table of Content :  

• Credit Card E-Commerce Transcations,
• E-Commerce Digital Payment System in the B2B arena, 
• B2B Payment Systems, 
• Ethical, Social and Poltical Issues in E-Commerce OR Understanding ethical, social and poltical issues in E-Commerce,
• Privacy and information rights, 
• Intellectual Property Rights Governace,
• Public Safety and Welfare.

Credit Card E-Commerce Transcations:

• Credit card e-commerce transactions refer to the system that enables online businesses to accept and process electronic payments for goods and services. 

• Examples of electronic payment transactions include online payments done via credit cards, debit cards, or smart cards. E-cash is another popular example of electronic payment transactions, where both customer and merchant have to sign up with the bank or company issuing e-cash. 

• Electronic payment transactions are divided into two types: one-time vendor payments and recurring customer vendor payments. 

E-Commerce Digital Payment System in the B2B: 

• E-commerce payment systems often use B2B mode. The security of customer information, business information, and payment information base is a concern during the payment process of transactions under the conventional B2B e-commerce model. A digital payment service allows business customers to pay for goods using a digital device in real time. 

• Examples of B2B digital payments include PayPal, Venmo, and Apple Pay.

• Some of the other B2B payment systems include Runa, GoCardless, Shopify, Fundera, and Merchant Maverick. 

B2B Payment Systems in E-Commerce:

• B2B payment systems in e-commerce are payment methods that allow businesses to pay for goods and services electronically. These payment systems are designed to be secure and efficient, and they can help businesses save time and money by automating the payment process. 
• Some of the popular and reliable online payment processors for B2B marketplaces include services like Adyen, Alipay, Amazon Payments, Authorize.NET, Payoneer, PayPal Payments Pro, Stripe, and WePay. 

Understanding ethical, social and poltical issues in E-Commerce: 

The major ethical, social, and political issues that have developed around e-commerce over the past seven to eight years can be loosely categorized into four major dimensions: information rights, property rights, governance, and public safety and welfare.

Some of the ethical, social, and political issues raised in each of these areas include the following:

• Information rights: What rights to their own personal information do individuals have in a public marketplace?

• Property rights: How can traditional intellectual property rights be enforced in a digital environment?

• Governance: What form of government intervention is necessary to ensure that e-commerce is conducted fairly and efficiently?

• Public safety and welfare: What are the implications of e-commerce for public safety and welfare?

Privacy and information rights in E-Commerce :

• E-commerce stores process personal data. They collect, store or otherwise use information that could potentially identify an individual. This means that they must abide by the GDPR.

• A number of global privacy laws affect e-commerce stores including the General Data Protection Regulation, or GDPR. The GDPR was written to provide maximum protection for the private information collected from people in the EU.

• Asking customers to share their personally-identifying information — like names, email addresses, phone numbers, and business information — directly, allows you to gain access to the information you need while respecting your site visitors’ personal privacy and protecting their online activity and identity from fraudsters.  

Intellectual Property Rights Governace:

• Intellectual property rights (IPR) governance in e-commerce is essential as it is through IPR that the IP of e-commerce gets protected from different kinds of infringements. Since IP acts as capital to an e-commerce business it must have different identifications from other contemporary businesses.

• The Intellectual Property Law safeguards the business interests and entities of a company or an individual against unfair competition. Intellectual Property plays an important role in E-Commerce in the ways mentioned below:

• Safeguarding business interests of a company
• Protecting the brand name and goodwill of a company
• Protecting the unique features of a product or service
• Protecting the confidential information of a company

Public Safety and Welfare in E-Commerce:  

• Public safety and welfare issues in e-commerce are related to ensuring equitable access to the internet and the channels of e-commerce. The major ethical, social, and political issues that have developed around e-commerce over the past seven to eight years can be loosely categorized into four major dimensions: information rights, property rights, governance, and public safety and welfare.

• Public safety and welfare issues include safeguarding children from pornographic materials, controlling access to drugs1, ensuring equitable access to the internet and e-commerce channels by schools and colleges or determining if pornography and gambling are a threat to public safety and welfare..

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