EDI standards implemented:- Before using EDI, the trading partners must set up a trade agreement that will define all the parameters of EDI. Each partner in an EDI trade agreement must independently determine a method to translate internal data to and from EDI formatted messages. Each partner must agree on the communications media and arrange […]
Information society refers to a society in which the creation, distribution, and manipulation of information have become the most significant economic and cultural activity. It is a society characterized by rapid growth in the use of information- a society in which quality of life and economic development depends largely on information and its exploitation, the […]
Variety of Transaction in Inter-Organizational:- Inter-organizational Transaction e-commerce refers to the full spectrum of e-commerce that can occur between two organizations. It is the e-commerce between businesses i.e. the businesses focus on selling to other businesses in the B2B e-commerce. The term was coined and first employed by Dr. Robert Jacobson, Principal Consultant to the California […]
Phases in Electronic Payment System:- “Electronic payment is a form of a financial exchanger that take place between the buyer and the seller facilitated by means of electronic communications. Electronic payment is a financial exchange that takes place in an online environment.” An electronic payment typically involves the following phases:- Registration:- This phase involves the […]
B2B E-commerce:- Business-to-business (B2B) e-commerce is the largest form of e-commerce. It is e-commerce between two organizations. It is also known as e-business and is experiencing an explosive growth rate on the internet. Companies are now mutually buying and selling products and services on the internet. is the sale of goods or services between businesses […]
Benefits of Electronic Payment System:- “Electronic payment is a form of a financial exchanger that take place between the buyer and the seller facilitated by means of electronic communications. Electronic payment is a financial exchange that takes place in an online environment.” Benefits of Electronic Payment System:- Following are the benefits of an E-Payment System:- Processing […]
What is Bitcoin and how does it work?:- Bitcoin is the talk of the town these days. On one hand, Japan considers bitcoin as a legal tender, while on the other, JP Morgan Chase CEO James Dimon calls it little more than a “fraud”. Investors or traders of Bitcoin faced a chaotic situation after Shanghai-based […]
Importance of ECommerce:- E-commerce refers to a wide of online business activities for products and services. It also pertains to any form of business transaction in which the parties interact electronically rather than by physical exchange or direct physical contact. Importance of ecommerce Easy global reach:- E-commerce enables a business organization to reach out to […]
Characteristics of electronic payment system: Following are the essential characteristics of electronic payment system: Acceptability:- The payment infrastructure should not only be robust but also available and accessible to a wide range of consumers and sellers of goods and services. The value stored in the electronic cash should be honored and accepted by other banks […]
Electronic Payment System:- It an e-commerce environment, payments take the form of money exchange in an electronic form and are therefore called electronic payments, Electronic payments (e-payments) are an integral part of e-commerce and are one of its most crucial aspects. Electronic Payment System “Electronic payment is a form of a financial exchanger that take place […]
