Electronic Wallets
To address security issues, the electronic wallet is something can minimize the security implications of e-payments.
It contains customer financial information in an offline database that is immediately accessed only when a purchase is made. Hence significantly reducing the likelihood of information being stolen. As consumers are generally adverse to new solutions, retailers would have to focus on marketing it as a very safe and secure method of e-payment because of its offline database. Continual ImprovementSecurity issues are something that is always evolving and ongoing, as hackers would always try to find new ways to bypass the existing security systems and steal information.
Thus, it is highly important for e-payment providers to continually innovate and improve their security systems. They should be quick to resolve any security loopholes, preempt hackers and strengthen their existing security systems. There also needs to be sufficient safeguards and insurances to be put in place in the event of theft of information such as credit card details to help victims of theft. CustomizationCustomization aligns particular services with the specific needs of target user segments. Tailored services eliminates pricing distortions created by bundling of irrelevant services.
For example, some users may prefer services that permit efficient payments for procurement and wholesale distribution transactions. If forced to accept a bundle that included services for travel and entertainment and general business spending, they would feel that they are overpaying for unwanted services. In the commercial segment, payment products are customized to meet the need of both large and small enterprises. Traditionally, many potential small business ventures have faced capital constraints, with typical minimum loan requirements that are beyond their needs and abilities. Many customized services by e-payment providers are directed toward this business group, integrating features that ensure secure and reliable receipt of payments with loan management. |
Learn more about iPayment Systems for Businesses
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Fun Facts#16 E-commerce sales are growing by 19% a year and are expected to reach $1.4 Trillion by 2015
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[email protected] Done By: Gobardja Ian U098473L Kua Li En A0070291M Nicholas Chen A0072340U Justin Tan A0072547B |