E-COMMERCESome Common Terms |
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What Is Electronic Commerce
E-Commerce Market Size & Trends Unique Feature of E-Commerce Technology Example of E-Commerce Enabling Business Goals |
Digital cash:
Otherwise known as electronic cash or e-cash, this is the new currency
for the Internet. E-cash is just a series of numbers, but those digits
mean real cash to issuing banks. E-cash is more like real cash than a
credit card because it's completely transferable and reusable.
Digital signature: Just as a paper document is authenticated by a signature, an electronic message can be authenticated by a digital signature. Digital signatures are another way to assure the recipient of an electronic message that the message is coming from the right party. Disintermediation: This is when companies sell their goods directly to customers, without going through retail outlets or another intermediary. Electronic Data Interchange (EDI): EDI is the transfer of electronic messages from one company to another using a network. Companies use EDI to facilitate business-to-business transactions like purchase orders, purchase confirmations, invoices, and payments. EDI messages can be exchanged using a VAN or the Internet. Electronic wallet: Rather than supplying your credit card number every time you want to make an online purchase, electronic wallets allow you to store your credit card information in an encrypted form and access it from your hard drive when you buy something. Encryption: Encryption is a way to secure electronic data transactions by transforming the readable message into an unreadable message. In this way you can guarantee that only the intended reader can decipher the message. Extranet: An extranet is the part of a corporate intranet that allows companies to communicate with the intranets of their customers and suppliers, facilitating electronic transactions. Secure Electronic Transactions (SET): This is a newly developed standard for making secure credit card transactions on the Internet. Security is achieved by allowing merchants to verify a buyer's identity through a digital signature. Furthermore, customers will be able to avoid giving out their credit card numbers to merchants by submitting their information directly to the credit card issuer for verification and billing. Smart Card: Smart cards look like credit cards but act very differently. With the use of an internal computer memory chip, a smart card can be used to store a large amount of information with a maximum amount of security, including everything from medical records to digital cash. To access or alter the information on a smart card, you have to use a smart card reader. Value-Added Networks (VANs): These are private networks that companies can use to exchange all kinds of messages and information, including financial transactions
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E-COMMERCE E-BILLING E-PAYMENTS E-BANKING E-SHOPPINGE-ADVERTISING WEB SITE DEVELOPMENT INTERNET LAW FUTURE OF E-COMMERCE |
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