Talking about the Electronic Payment Method in E-commerce
With the continuous development of network technology, e-commerce has also accelerated its development process and gradually become an indispensable part of people's lives. Obviously. The traditional payment method has been unable to meet the requirements of online operation of electronic transactions because of its face-to-face transaction mode, so various electronic payment methods have emerged. It overcomes the limitations of the traditional payment method, such as complex, time-consuming, and inconvenient to carry cash. It has an important role in e-commerce because of its convenience, high efficiency and security. Hairdryer features cutting-edge technology that dries and protects your hair at the same time. A built-in condensation needle condenses the moisture in the air and atomizes it into tiny negatively charged water ions, which are emitted from the nozzle. These ions keep the hair shafts closed and penetrate deep into the hair and scalp. Ionic Hair Dryer,Hooded Hair Dryer,Small Hair Dryer,Rotating Hair Brush Dryer Ningbo Meirou Electric Appliance Co.,Ltd. , https://www.mrhairdryer.com
The electronic payment methods that have been widely used at present are classified into the following categories: electronic money payment methods: electronic check payment methods; bank card payment methods electronic wallets.
First, electronic money payment method
Electronic money is a currency that implements payment functions in the form of information transfer through a computer network. E-money payment methods are simple, safe, fast, reliable, and small-paying compared to traditional currencies. More representative of electronic money is electronic cash (e-Cash). Electronic cash was developed by Digicash. Through their e-cash client software "cyberwallet" (both merchants and consumers can get through the account) consumers can extract e-cash from the bank and then store e-cash on their own computer. When you need to shop and make money payments. The monetary bank verifies the validity of the currency and exchanges the real currency with the e-cash, and the merchant receives the e-cash paid by the consumer to complete the currency payment process. Consumers can also put the remaining e-cash stored on their computers back into the bank's electronic cash pool.
Since electronic cash does not have the limitation of traditional currency denominations, it is very suitable for small payments. For example, an online news watch for downloading an MP3 music, and so on. Micropayments have become very popular today and are recognized and accepted by more people.
Second, the electronic check payment method
An electronic check is simply a data message carrying a digital signature. It uses the digital signature to confirm the identity of the payer and payee, and to pay the bank and account. Electronic checks are almost identical to traditional checks. It can be used to electronically and automate the business and processing of check payments. Because digital signatures are highly secure, electronic checks are, in a sense, more secure than traditional checks.
It can be seen from the definition and function of the electronic check that it has the following characteristics: convenient, efficient, wide audience, easy to circulate, strong applicability, high security, white business, saving time and money. The structure and filling method of the electronic check filled by the payer are similar to the traditional check. In addition to the information such as the name, account number, amount and date of the payee, the electronic check also implies secure encrypted information. When the payment process begins, the payer sends the electronic check to the payee via an email address. The payee takes the electronic check and signs the received confirmation with a digital signature, and then sends the electronic check to the bank via the mailbox: on the other hand, the payer sends the electronic payment notice to the bank, and the bank confirms the identity information of the payee. Transfer the money to the payee account.
Third, bank card payment methods
As the name suggests, bank card payment methods rely on bank cards to complete the payment process. Mainly divided into: settlement card, smart card.
Credit card, debit card, and charge card are common among settlement cards.
The credit card is printed with the name, expiration date, number, etc. of the issuing bank. A card with consumer credit on the back with magnetic strips, signature strips, etc. The commonly used credit card is generally referred to as a credit card. That is, the cardholder first consumes and then repays within the credit limit. Credit cards have become the mainstream tool for people's consumption, and its workflow and features are not repeated here.
A debit card is a bank card that has a deposit first, a post-consumption, and no overdraft function. In addition to functions such as transfer settlement, cash access, and shopping consumption, it also has financial functions such as fund and stock trading. Debit cards provide a large number of value-added services to facilitate people's lives.
Accurately speaking, the charge card is not a kind of bank card, but its payment settlement function in e-commerce is similar to the bank card's consumption quota. The card issuance standard is higher than the credit card and does not revolve credit. The monthly consumption amount must be Reimbursement in full time.
A smart card is a special type of card payment method. It is a plastic card embedded in a micro-processing chip for storing and managing personal information such as private keys, account information, credit card passwords, etc.
The representative of the smart card is the Mondex card of MasterCard International. Merchants using Mondex cards must have a dedicated card reader installed. Its workflow is this: the cardholder inserts the Mondex card into the card holder. After the identity of the merchant and the cardholder is verified, the merchant requests settlement and verifies the digital signature of the merchant on the cardholder's Mondex card. The merchant also verifies the digital signature of the cardholder. When the signature of both parties is confirmed, the amount of the product is subtracted from the cardholder's Mondex card and the same amount is transferred to the merchant account.
The advantages of smart cards are obvious. First, the amount of information storage is about 100 times larger than that of general magnetic cards; it is more confidential than credit cards. The information on the smart card is encrypted and can only be used by legitimate users and is easy to carry. However, the smart card must have the support of a dedicated credit card device, which hinders its development.
Fourth, the electronic wallet
Wallet (Electronic Wallet) as an electronic payment tool is a kind of computer software. Its function is similar to a traditional wallet. It can store electronic cash, electronic credit card, user identity certificate and other information, and can manage electronic security certificates, complete secure electronic transactions, and save transaction records. Shopping with e-wallets must be done in the e-wallet service system. Users usually have an account in the bank and must install e-wallet software that meets security standards, which is generally provided free of charge. There is an electronic wallet manager in the software for managing user passwords and other data, as well as an electronic transaction recorder for storing and querying user transaction records. When a transaction is required, the payment process can be completed successfully by selecting the desired transaction method. There are already e-wallet service systems such as VISACash, Mondex, MasterCard cash, CIip and Proton, as well as eWallet and Microsoft Wallet and other powerful e-wallet software. From the perspective of the function and use of the e-wallet, the e-wallet has the advantages of high security, wide applicability, strong memory, efficient management, time saving and support for small payment. However, e-wallets still belong to a payment tool with a special scope of use. There are no general standards that limit their widespread use and development.
It is worth mentioning that with the continuous development of the mobile phone business, the mobile phone has been equivalent to the personal electronic wallet being followed and used by people, through which it can carry out some small payment services such as telephone bills, network fees and monthly and miscellaneous paid securities information. It can be said that with the development of wireless networks, more ways of business will be completed through mobile payment in the future.
Text / Research Institute of Xijing University Yuan Fang