Almost 360million people worldwide use the internet regularly and one in four of these have made online purchases.Most of these transactions have been made using credit cards because they have had no other option.In this report
I will attempt to identify and explain a series of e-payment methods which I could employ in the day to day running of my business.While doing this I will attempt to show the benefits they will bring to my businees and prospective customers alike while briefly including the key features of the payment systems I have identified.
These cards store information on a chip contained within the card itself.These chips can store an incredibly diverse amount of information and the ability to store digital signatures and financial information is essential.The cards largely operate on the same principal as top-up phone cards where the chip is "topped-up" with a monetary amount which is then used for cash purchases.When this cash is spent,the chip is recharged with more money.The level of security and convenience with these cards is high as is the level of privacy and they are widely believed to be a genuine competitor of more widely used credit cards such as VISA and Mastercard.It is my belief t
Nochex is a service which allows you to e-mail money.You can load money into Nochex from your bank account or using your debit card and once there is money in your account you can send it to anyone with an e-mail address.Both parties are then notified by e-mail that the money has been sent.Once the money arrives in the Nochex account it can be withdrawn to a bank account using a debit card.This is a painless and relatively simple method of payment and would prove ideal when running a small business.It provides a number of benefits for the retailer and consumer alike:
S My business will enjoy lower costs due to high credit card network fees being reduced.
S Paypal uses the existing financial infrastructure of bank accounts and credit cards.
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