E-Commerce: Software, Security, Payments, & Planning


Electronic Cash Electronic cash is a means of online payment that does not involve paper or coins, and can be exchanged for regular money when requested. It is a good option for those who do not have a credit card since there are no requirements to receive it besides having an account that can accept it. There are many advantages of using e-cash, including the fact that they are more efficient than other payment methods, and are less expensive to process than payment cards or cash. However, there is not any real way to trace back purchases that may have been made from e-cash that was stolen. Also, as popular as an option as e-cash is, it is not yet a global payment option. Privacy and security are two important issues when dealing with e-cash, mainly because there is the worry that the transaction may not be secure or that the e-cash could be duplicated. In many ways, e-cash that is legitimate should be very similar to actual money in that it can only be spent once and that it is not easy to know who used it. E-cash works by a user opening an account with a bank or company that offers the service, then provides ID to ensure they are who they claim to be. Then, the user can synchronize their payment card account with their e-cash and transfer money from the card account to their e-wallet or smart card. There are many companies that provide e-cash services, the most popular being PayPal. PayPal offers various account types, depending on the services required. It is free to set up, but there are various charges that occur when a transaction is proccessed through the account.	Electronic Wallets Electronic wallets are used to hold e-cash, in a similar way as a wallet holds cash and other items. They store shipping and other information that is needed when processing a transaction. The two big companies that provide this service are Microsoft Windows Live ID and Yahoo! Wallet. One of the issues with using an electronic wallet is that the site that it is on has access to personal information about that individual.
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Electronic Cash

Electronic cash is a means of online payment that does not involve paper or coins, and can be exchanged for regular money when requested. It is a good option for those who do not have a credit card since there are no requirements to receive it besides having an account that can accept it.

There are many advantages of using e-cash, including the fact that they are more efficient than other payment methods, and are less expensive to process than payment cards or cash. However, there is not any real way to trace back purchases that may have been made from e-cash that was stolen. Also, as popular as an option as e-cash is, it is not yet a global payment option.

Privacy and security are two important issues when dealing with e-cash, mainly because there is the worry that the transaction may not be secure or that the e-cash could be duplicated. In many ways, e-cash that is legitimate should be very similar to actual money in that it can only be spent once and that it is not easy to know who used it.

E-cash works by a user opening an account with a bank or company that offers the service, then provides ID to ensure they are who they claim to be. Then, the user can synchronize their payment card account with their e-cash and transfer money from the card account to their e-wallet or smart card.

There are many companies that provide e-cash services, the most popular being PayPal. PayPal offers various account types, depending on the services required. It is free to set up, but there are various charges that occur when a transaction is proccessed through the account.

Electronic Wallets

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Electronic wallets are used to hold e-cash, in a similar way as a wallet holds cash and other items. They store shipping and other information that is needed when processing a transaction. The two big companies that provide this service are Microsoft Windows Live ID and Yahoo! Wallet. One of the issues with using an electronic wallet is that the site that it is on has access to personal information about that individual.

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Online Payment Basics

Payment Cards

Next Section: Planning

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