E-Commerce and Online Payment in the Modern Era

Abstract

Abstract-Face-to-face exchange of goods between the two sides conducted before the beginning of recorded history. Always there are some security problems in traditional payment system. After that electronics payments system brought out a huge revolution. Though modern technology digital documents can be copied perfectly, duplicate signature of anybody is possible. Name of the Buyer's can be linked with each payment, to eliminate the secrecy of money. Without proper and high-quality security system somehow e-commerce will not work anymore. On the other hand a very well designed electronics payment system can provides high label security then the traditional payment. In this article we discussed about the different process, benefits, and security related issue of electronic payment system.Keywords-E-commerce, Electronic Data Interchange, Generic Framework of E-commerce, Online Payment System, Software Protocol, Value Added Network. I. INTRODUCTIONE-commerce i.e. Electronic Commerce is the cutting edge for today's commerce. Definition of e-commerce with some words is impossible. It is a vast process using internet. It not only the shopping using internet rather It includes all types transactions, business-to-business connections electronically. All types of selling and buying process can be held using e-commerce system. The path of e-commerce are e-mail, fax WWW etc. It is an electronics communication system [1] of sharing information among the business partners to the detection of trade objectives. It is a one kind of current trade method which is used by merchants, consumers etc. to cut the service costs, improving the value of goods and services and increasing the speed of service delivery by help of high speed computer networks [2]. It helps very rapidly in the trading process via computer networks. Main function of e-commerce is handing out of information. Now a day's ecommerce is used in all areas from product design to customer service. Basically e-commerce is the one kind of business process to interact with customer quickly such as online advertising, online payment, and online customer services, order tracking, product exchange etc [3]. Also it can reduce carrying cost and order related solutions, service charges, and costs in managing orders [4]. It enables to interconnect with a long-range of suppliers, distributors and trading partners also in rural areas [5]. Basically, e-commerce means do business as usual but across the internet.IT (Information technology) system has a remarkable outcome on production process. Businesses are producing huge funds in e-commerce purpose but they are tough short of to appraise the achievement of their e-commerce arrangement. The Information Systems Success Model of DeLone & McLean can be modified to the extent challenge of the innovative e-commerce system [6]. This study examine about the customer dependability in an online business-toconsumer (B2C) context. Internet has an amazing outcome on developing of trading process [7].Here in this paper we discuss about the E-co...

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“…The positive association between online transactions and mobile money ownership remains consistent whether looked at in the OIC overall or by national income group. This finding indicates that in line with the tremendous growth of e-commerce, consumers can utilize aspects of mobile money services to make online transaction and simplify their transactions (Demirgüç-Kunt et al, 2018;Jenkins, 2008;Mukherjee & Roy, 2017).…”

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