Download Payment Cards and Digital Cash: Advantages, Disadvantages, and Transactions and more Quizzes Electronics in PDF only on Docsity!
Why we like plastic
privacy and security- will it be safe in this transaction? independence- i do not only want to use it with one credit card like amazonportability- can i use it anywhere? location and flexibilityconvenience- quick, tap TERM 2
Payment methods
DEFINITION 2 cashchequedebit cardcredit cardalternative: paypal TERM 3
B2C vs B2B
DEFINITION 3 Electronics Funds Transfer (EFT) b2bElectronic Doc/Data Interchange (EDI) b2bElectronic Bill Presentment and Payment (EBPP) b2c TERM 4
Types of Cards
DEFINITION 4 Debit Cards -28%Prepaid CardsCharge Card- AMEXCredit Card- Visa and Mastercard- 39%paypal- 20% TERM 5
Who is involved in a payment
DEFINITION 5 merchant and merchants bankcustomer and customers bankPayment Card issuerCard association/network interchange
Advantages of Payment cards
consumer protection from fraud worldwide acceptance currency conversion handled merchant protection merchant assurances (payment) TERM 7
Disadvantages of using payment cards
DEFINITION 7
- costs to merchants: per transaction and monthly fees2) costs to consumers: annual fee and interest charges TERM 8
online payment service provider and gateway
DEFINITION 8 paypaldigital river solutionsMycommerce by DRIntuit Merchant services etc TERM 9
Front end processing (payment
gateway)
DEFINITION 9 woocommerce verifies each customers billing info verifies funds for each customers payment method approves requests, allowing your store to issue a confirmation number most importantly, gets you paid TERM 10
do all e-commerce transaction have a third
party in the middle?
DEFINITION 10 yeahhhhhhhh
online payment system
summary
- chose an accounting /billing solution2) chose a shopping cart solution- woocommerce3) choose your payment processor- paypal4) set up a merchant account (if neccessary)
