a speech on e commerce and e payment
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Answers
Explanation:
Online payment, also known as electronic payment, it refers to the money which exchanged electronically. Broadly speaking, online payment refers to the transaction exchanged the funds on internet, typically involves computer network, internet and digital stored value system. It makes e-payment may at any time, via the internet directly to the transfer, settlement, and forms of e-commerce environment.
Online payment may seem to be very easy and fast, but it consist of the confidential and security for the card info. In order to make sure that the process is work correctly, the merchant must connect to the network with the Issuing bank, processor, and others financial institution, so that the information that provided by the customer can be routed reliable and secure. As highly sensitive payment information, trust and confidence is an essential element of any payment transactions. This means that payment processing services should be provided by a wealth of experience in payment processing and security.
Electronic commerce refers to the goods and services which exchange over the internet, commonly known as e-commerce. All major retail organization also have an online presence, however, e-commerce also apply between business to business (B2B) transactions. It can open to all interested parties, or even limited participants. For example like Amazon.com, the selling and buying transaction is completed electronically and interactively in real-time. Besides that, e-commerce system also associated with the service industry, such as online banking, transfer funds, or even pay the credit card bill.
Electronic check, also known as e-check, is a form of payment which transfers through the internet. It perform the same function as the paper check of using digital transmission to transfer money from one account to one account. Besides that, e-check provide better security features than the paper check because it is an electronic format and may proceeded in fewer steps to complete the transaction. Most common features provided by electronic checks include authentication, public key cryptography, digital signatures or personal identification numbers instead of signature and so on. There’s a simple electronic check process shown below:
1. Send Check
Payee
Payer
2. Inspect Check
5. Bill
3. Notice
4. Approve funds and transfer
Payee Bank
Accounting Server
In order to ensure secure communications between both parties on internet, we must take the necessary measures to prevent them. For communication link purpose, we can use firewall or Virtual Private Network (VPN) to make the communication more safety and secure. And consumer must be very careful on some of the untrusted Proxy server. It is act like an intermediary for seeking the information, resource, or link that requested by the client. If the consumer are using the untrusted proxy server, all the data that the client provided may not be encrypted and sent to the proxy server, and proxy server may record down everything sent from the client, including the login and password.
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