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Instant Payment Notification
Instant payment notification (IPN) is a method for online retailers to automatically track purchases and other server-to-server communication in real time. This allows E-commerce systems the opportunity to store payment transactions, order information and other sales internally. IPN messages can represent payment success or failures, order transaction status changes, accounting ledger information and many others depending on the payment gateway. The payments industry is an evolving market, technology like IPN and instant payment are now used in the retail market and in the domestic sphere, but they are expected to evolve into the corporate, business-to-business (B2B) segment and cross-border space. How it works IPN is used by merchant to automate backend functions related to: the end user account creation, order tracking, customer and merchant notifications related to acquired services. When an E-commerce system requests a resource from a payment gateway, like a new invoice or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electronic Bill Payment
Electronic bill payment is a feature of online, mobile and telephone banking, similar in its effect to a giro, allowing a customer of a financial institution to transfer money from their transaction or credit card account to a creditor or vendor such as a public utility, department store or an individual to be credited against a specific account. These payments are typically executed electronically as a direct deposit through a national payment system, operated by the banks or in conjunction with the government. Payment is typically initiated by the payer but can also be set up as a direct debit. In addition to the bill payment facility, most banks will also offer various features with their electronic bill payment systems. These include the ability to schedule payments in advance to be made on a specified date (convenient for installments such as mortgage and support payments), to save the biller information for reuse at a future time and various options for searching the rec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking Technology
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Instant Payment
Instant payment (sometimes referred to as real-time payment or faster payment) is a method of exchanging money and processing payments, allowing for almost immediate transfer of money between bank accounts, instead of the more typical one to three business days. Many countries have implemented instant payment systems, and many instant payment systems and platforms are currently under development worldwide, due to increased need for faster and reliable transactions. The Euro Retail Payments Board (ERPB) define instant payments as: Background The growth of e-commerce has caused changes in people's spending patterns. Shopping is no longer confined to regular business hours, creating new challenges for funds transfers. Similarly, merchants require faster and more reliable money transfer systems to keep up with consumers' demands. Traditional electronic payments like simple bank transfers, that perform the electronic funds transfer within few business days, are not in line wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payments As A Service
Payments as a service (PaaS) is a marketing phrase used to describe a software as a service to connect a group of international payment systems. The architecture is represented by a layer – or overlay – that resides on top of these disparate systems and provides for two-way communications between the payment system and the PaaS. Communication is governed by standard APIs created by the PaaS provider. History Since the 1980s, credit cards and international wire transfer systems like the Society for Worldwide Interbank Financial Telecommunication (SWIFT) were primary methods for making and receiving electronic cross-border payments. Within individual countries, payers and payees have used various electronic systems to make such payments. In the United States, for instance, the Federal Reserve Bank operates the automated clearing house (ACH) system. In the Eurozone the Single Euro Payments Area (SEPA) defines the rules for credit transfer (SCT) and direct debits (SDD) fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paid Content
Paid content is content on the Internet – such as text, graphics, video and downloads – which is paid for. Paid content is usually copyrighted. Some internet content has always historically been paid for — until recently there has been little discussion about paying for scientific, technical and medical (STM) content as well as certain trade information. Applications News media Printed newspaper circulation has fallen steadily since the advent of the internet – in 2008 in the USA alone newspapers lost $64.5 billion in market value. As newspapers' online readership has increased, the newspaper industry has been forced to re-evaluate their business models in the light of falling advertising revenues. While online editions of newspapers have been extremely popular, advertising rates online are lower than for print media, and revenues from them have not been sufficient to offset the loss of revenue from print. In 2009, Rupert Murdoch proposed a method of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Online Marketplace
An online marketplace (or online e-commerce marketplace) is a type of e-commerce website where product or service information is provided by multiple third parties. Online marketplaces are the primary type of multichannel ecommerce and can be a way to streamline the production process. In an online marketplace, consumer transactions are processed by the marketplace operator and then delivered and fulfilled by the participating retailers or wholesalers. These type of websites allow users to register and sell single items to many items for a "post-selling" fee. In general, because marketplaces aggregate products from a wide array of providers, selection is usually more wide, and availability is higher than in vendor-specific online retail stores. Since 2014 online marketplaces have become abundant. Some online marketplaces have a wide variety of general interest products that cater to almost all the needs of the consumers, others are consumer specific and cater to a particular segmen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-store Retailing
Non-store retailing is the selling of goods and services outside the confines of a retail facility. It is a generic term describing retailing taking place outside of shops and stores (that is, off the premises of fixed retail locations and of markets stands). The non-store distribution channel can be divided into direct selling (off-premises sales) and distance selling, the latter including all forms of electronic commerce. Distance selling includes mail order, catalogue sales, telephone solicitations and automated vending. Electronic commerce includes online shopping, internet trading platforms, travel portals, global distribution systems and teleshopping. Direct selling includes party sales and all forms of selling in consumers' homes and offices, including even garage sales. Non-store retailing, sometimes also labelled ''home shopping'', is consistently achieving double-digit growth, and slowly taking a bigger share of overall retailing. In the first quarter of 2014 online s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Comparison Of Free Software E-commerce Web Application Frameworks
The following is a comparison of the features of notable shopping cart software packages available. Some such shopping cart software is extensible through third-party software components and applications. As such, the features listed below may not encompass all possible features for a given software package. The software listed here is but a fraction of all such packages on the market. General information Basic information about the shopping carts including creator, software license and framework, and updates. Systems listed on a light purple background are no longer in active development. Data storage Information about what data storage system can be used. General features Information about the features the shopping carts offer. Customer features Information about the features the shopping carts offer. Customer reward features Information about the features the shopping carts offer. Administration area features Information about the features the shopping carts of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
E-commerce Credit Card Payment System
Electronic commerce, commonly known as e-commerce or eCommerce, or e-business consists of the buying and selling of products or services over electronic systems such as the Internet and other computer networks. The amount of trade conducted electronically has grown extraordinarily with widespread Internet usage. The use of commerce is conducted in this way, spurring and drawing on innovations in electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web at least at some point in the transaction's lifecycle, although it can encompass a wider range of technologies such as e-mail as well. A large percentage of electronic commerce is conducted entirely electronically for virtual items such as access to premium content on a website, but most electronic commerce involves the tra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electronic Money
Digital currency (digital money, electronic money or electronic currency) is any currency, money, or money-like asset that is primarily managed, stored or exchanged on digital computer systems, especially over the internet. Types of digital currencies include cryptocurrency, virtual currency and central bank digital currency. Digital currency may be recorded on a distributed database on the internet, a centralized electronic Database, computer database owned by a company or bank, within Computer file, digital files or even on a stored-value card. Digital currencies exhibit properties similar to traditional currencies, but generally do not have a classical physical form of fiat currency historically that you can directly hold in your hand, like currencies with printed banknotes or minted coins - however they do have a physical form in an unclassical sense coming from the computer to computer and computer to human interactions and the information and processing power of the serve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Digital Economy
The digital economy is a portmanteau of digital computing and economy, and is an umbrella term that describes how traditional Brick and mortar, brick-and-mortar economic activities (production, distribution, trade) are being transformed by Internet, World Wide Web, and blockchain technologies. The digital economy is variously known as the ''Internet Economy'', ''Web Economy'', ''Cryptoeconomics, Cryptoeconomy'', and ''New Economy''. Since the digital economy is continuously replacing and expanding the traditional economy, there is no clear delineation between the two integrated economy types. The digital economy results from billions of daily online transactions among people, organizations (businesses, educational institutions, non-profits), and distributed computing devices (servers, laptops, smartphones, etc.) enabled by Internet, World Wide Web, and blockchain technologies. The digital economy is rapidly evolving into an Internet of Things (IoT), and could not exist in its curren ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
