• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Compare Electronic Cheques and Digital Payment services payment systems used by e-commerce systems.

Extracts from this document...

Introduction

Transfer-Encoding: chunked ´╗┐Electronic Cheques are a system that transfers money electronically from the buyer?s current account to the seller?s bank account. E-cheque services are provided by high street banks such as HSBC and Santander. One benefit is that it allows instant payment. With electronic checks, customers can receive instant acknowledgement of their payments. It also increases efficiency, lower costs and environmental benefits. Processing payments online removes the need for stamps and envelopes, which saves time, money and reduces the amount of paper used which benefits the environment. Businesses who employ electronic cheques spend less money in processing fees which lets the business put more money on other important operations. A disadvantage of using electronic cheques means there is not ?float? time. ...read more.

Middle

The business pay want the customer to pay for these extra costs. Digital payment services Is a service that manages the transfer of funds from a customer to the merchant of an e-commerce Web site. The money may come from a digital wallet inside the user's machine, from a credit card stored on a server of the digital wallet service or from a prepaid account stored in the payment service's server. An example is PayPal. PayPal allows you to pay for items using a linked credit card but only a username and password is needed rather than the card number, security code and having to put a password. Electronic payment is very convenient for the consumer. The customer will only need to enter a few details in order to buy products. ...read more.

Conclusion

The customer needs to register to the institution in order to be authorised to perform money transactions with them. The customer will need to have a username and password and will also need to keep the account up to date which can be irritating and boring for the customer. Despite being secure to use the customer has to make sure that their transactions are safe and follow security policies. If a password is prone of being hacked, it can mean financial loss for the customer. Banks or financial institutes that have your financial information can expose it to cyberpunks. So, there is risk of your personal and account details being stolen. Although a business will be saving money through less of materials payment systems come with an increased need to protect sensitive financial information stored in a business's computer systems from unauthorized access. This may increase the businesses costs. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Information Systems and Communication section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Information Systems and Communication essays

  1. Marked by a teacher

    Social Implications of E-Commerce

    e-commerce and those who cannot, whether it's due to not having access to the internet in their area, or simply because they don't know how to use it. Elderly people for example could benefit greatly from shopping or handling their utilities and banking online - it could enable them to

  2. Data Processing Task. Mr Peters, the man who runs this particular Samsung store ...

    This proves that it is a safe system. When inside the system click "tools" "security" "unset database password" so the user can change it to suit their preference. Passwords are great way to help prevent from hacking, however it is important to keep the password private to only authorised personnel with the business.

  1. From the e-commerce strategy you gave me earlier I understand that by having a ...

    snotty and your website is rubbish and I'd rather stick pins in my eyes than come back here", then it is obvious that they aren't going to have more communications with you so can delete membership records of him. Principle 7 Principle 7 is the section that deals with security of the information.

  2. Information: G061 - Systems and Communication

    Can potentially reach everybody. A required CD-ROM can take time to arrive. People come to a website rather than the CD-ROM being sent to a person. Several CD-ROMs may need to be looked at to find the required information. Hyperlinks can lead the individual to related sites.

  1. Different Forms of Electronic Communication

    by Microsoft between 1999 and 2006 for computers running the Microsoft Windows operating system, and aimed towards home users. It can let more than 2 people chat in same time. It only let people who have e-mail account to log in.

  2. Discuss the Causes and Effects of the Digital Divide

    Another reason why certain geographic places do not get connection because places like woodlands and some rural area are not in the best conditions to have certain technology round them. In some places in the UK in woodlands and very rural area?s connection speed is quite low so many people

  1. Compare different payment systems used by e-commerce systems.

    There are costs involved with using card payments. A service from a payment service provider (PSP) can will be used by businesses to process transactions on your behalf, this will cost them money. Having a large range of different payment systems is great as customers can pick what they are most comfortable to use.

  2. Discuss security issues in e-commerce.

    Since the conversation between browser and server is encrypted, intermediate caches are unable to see the content to cache it. Worse, some browsers will not even cache HTTPS documents in their local per-user caches. The encryption/decryption represents a computation overhead for both server and browser.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work