10 Unique Features of E-Commerce Technology
10 Unique Features of E-Commerce Technology/Googlesearch BY NikkaAnge1123 10 unique features of e-commerce technology 1. Breaks geographical barrier: unlike traditional retail business, ecommerce is not bounded by geographical barriers. Today an e commerce company can easily sell its products to consumers residing in any part of the country. 2. Saves precious time: Ecommerce helps in saving the most important thing in todays modern world: ‘Time’. Consumers from the comfort of their home, office and even caf© can buy any product they wish to buy.
Thanks to e commerce, consumers save lot of precious time that Is therwise wasted if they opt for traditional shopping. 3. Accurate Information: Today e commerce companies across the world are doling out product information’s that are accurate & to the point, which eventually helps consumers to make better buying decision. These information’s are free from all the inaccuracy & hidden facts that are very much used by traditional retail models as their selling strategy. Besides, e commerce companies also provide accurate Information to customers about billing payment & shipping. . Ubiquity: ubiquity means state of being everywhere at once. With unprecedented growth in the sales of tablets & smart phones, laptops and other internet related gadgets, e commerce companies literally follow their consumers wherever they go. E commerce shopping can be done even when consumer is walking or Jogging. 5. Impersonal interaction: Since e commerce technology completely depends on internet & web to reach to Its customers, the Interaction with consumers will always be Impersonal in nature; as In It is not face-to-face interaction. . Customers are truly king In the e commerce world: Today every month literally undreds of e commerce companies are popping up in every corner of the world. This intense among E commerce companies is only befitting customers, who today have more choices to choose from and discount vouchers to avail – for instance Littlewoods Voucher Codes. 7. Power of accessibility: Since today e commerce is so easily accessible by the virtue of power of Internet, consumers can buy anything & everything as and when they desire for.
In fact a mere impulsive desire or slight craving for a product can lead to expensive shopping, this Is all thanks to accesslblllty o shopping that is possible only via e commerce technology. 8. Cuts supply chain: E commerce technology has immensely helped in cutting the cumbersome supply chain of wholesale & retail and also overreliance on sales force team. This only helps in reducing the cost of the product, which eventually benefits the customer. 9. Ever changing nature of business: Since today technology Is changing at lightning speed by every passing day, the nature of e commerce business will also change along with it.
Who knows technology development in coming years will make e commerce more ustomer friendly, or there can be other fundamental changes to the e commerce business too. 10. Technology can equally be barrier: Technology has helped e commerce companies to break geographical & other barriers. However overreliance on technology & complete absence of face to face Interaction has created immense trust barrier between e commerce companies and customers. This Is especially true completely trust e commerce companies, especially when it comes to on line payment. Different ways of paying purchases online.
PayPal is an e-commerce payment processing company owned by eBay. Users set up PayPal account and pay a fee for each cash transaction. Rules and fees vary for currencies used and cash amounts transacted. The PayPal website has an easy, step- by-step sign on process. Rules are spelled out in detail. Users can pay from their PayPal account. Bill Me Later “Bill me later” is a way to use PayPal and pay without a credit card. Users provide their birthday, the last four digits of their Social Security number and agree to accept the contract terms. Once this process is concluded, the purchase is made.
The bill is sent later. Users are subject to a credit check before being approved. Debit Card Debit card, alternately called a bank card or check card, is a way to pay directly that draws cash for a purchase directly from a bank account and transferring to an account held by the seller. Most online merchants will accept debit card purchases. Bank Transfer The bank transfer is similar to the debit card method – it’s a method of transferring cash from one bank account to another account. The debit card in a bank transfer transaction is not necessary, although the results are the same.
The bank transfer method provides security and speed, and is widely used in Europe, but is also available in the U. S. Online Banking ePayments (OBeP) Users of this method are directed at the time of purchase to the merchant’s online bank website. The buyer logs in and authorizes the charges. Funds are transferred from the buyer’s bank to the seller’s bank. Highly secure, buyers using this payment method do not have to provide their account numbers or other personal data. Electronic Bill Payment Electronic bill payment is another method of sending money to a seller’s or creditor’s bank account directly from an existing bank account.
This method is also used to pay credit card or other bills, and not necessarily to merchants. Mobile Payments The mobile payment option is relatively new, and gaining popularity in foreign countries. Using a mobile phone, consumers can pay for a variety of goods and use of checks, credit cards and other pay methods. Multiple charges are consolidated in one monthly statement – the phone bill. Electronic Check The electronic check is a method of payment which draws cash from a checking account, eliminating the paper check and the inconvenience of mailing it.
The electronic check, or the ACH or echeck, as it’s sometimes called, requires the payer’s name, amount of payment, routing and account number. The user authorizes the transfer of funds from his or her bank website to the payee. The Bottom Line As the internet becomes increasingly more popular for almost every variety of consumer cash transactions – buying, selling, banking, paying and collecting debts – the alternate methods of payment cited above will become more widely used. Offering convenience, speed and security, some of these currently alternate payment methods could soon become the preferred methods.
Examples of Cyber crimes in connection with Ecommerce or online shopping. Password hacking. Weak passwords (or no passwords at all) on your mobile evices give fraudsters a gift that keeps on giving: access to all stored information. According to a 2013 survey by McAfee, 36% of smartphone users don’t use passwords to protect their devices. Be sure to secure your smartphone or tablet with a long password – a mix of letters, numbers, and symbols – so hackers can’t crack them. And never store passwords on your mobile devices. Rogue holiday apps.
A recent survey by the National Retail Federation found that over half of smartphone owners and six out of 10 tablet owners plan to use their devices for holiday shopping related ctivities. Many consumers use more than 10 apps on their devices during a typical week, a lot of which keep them logged into their accounts – including email, text, banking, and social media – for long periods of time. Software from online app stores used for holiday shopping may look legit. It may even have company endorsements. But it could be carrying malware designed to steal your personal data and make charges to your accounts.
Review mobile apps carefully before downloading. Check with the source of app endorsements that they’re real. And only install apps from rusted sources such as Google Play and the Apple App Store. Phony e-commerce sites that lure shoppers looking for bargains can spell big trouble – stealing our personal information and our money. Check with the Better Business Bureau to confirm that the website is reputable. And only use websites that are encrypted – ones that start withhttps – to allow for secure transactions. Https isn’t foolproof. But it still provides protection against many online security threats. Ђ Holiday Phishing and SMiShing scams. If an email or social media bargain sounds too good to be true, t probably is. Don’t click on any suspicious links that could be designed to swipe your personal information. And watch out for holiday SMiShing that appears in gift card information for security purposes. Banks and credit card companies will never ask you for this information online. Unsecure WiFi hotspots are a favorite hangout for holiday hackers. A recent survey by McAfee found that 73% of respondents are Just fine with using free WiFi and 54% plan to use smartphones for holiday shopping.
But since most WiFi hotspots are unsecure, shopping on them can lead to your accounts eing compromised and your being identity stolen. Anti-virus and anti-malware software won’t protect your online traffic at WiFi hotspots. To do that, you need a personal VPN that sends your information through a secure tunnel, making it invisible to hackers. Compare and contrast Intranets, extranets and internet as a whole. Intranets – is a computer network that uses Internet Protocol technology to share information, operational systems, or computing services within an organization.
This term is used in contrast to internet, a network between organizations, and instead efers to a network within an organization. Sometimes, the term refers only to the organization’s internal website, but may be a more extensive part of the organization’s information technology infrastructure, and may be composed of multiple local area networks. The objective is to organize each individual’s desktop with minimal cost, time and effort to be more productive, cost efficient, timely, and competitive. Extranet – is a computer network that allows controlled access from the outside, for specific business or educational purposes.
In a business-to-business context, an xtranet can be viewed as an extension of an organization’s intranet that is extended to users outside the organization, usually partners, vendors and suppliers, in isolation from all other Internet users. In contrast, business-to-consumer (B2C) models involve known servers of one or more companies, communicating with previously unknown consumer users. An extranet is similar to a DMZ in that it provides access to needed services for channel partners, without granting access to an organization’s entire network.
Internet – is a global system of interconnected computer networks that use the tandard Internet protocol suite (TCP/IP) to serve several billion users worldwide. It is a network of networks that consists of millions of private, public, academic, business, and government networks, of local to global scope, that are linked by a broad array of electronic, wireless and optical networking technologies.