Академический Документы
Профессиональный Документы
Культура Документы
using a standardized format; a process which allows one company to send information to
another company electronically rather than with paper. Business entities conducting
business electronically are called trading partners
Electronic payment system
E-wallet — A form of prepaid account that stores user’s financial data, like debit
and credit card information to make an online transaction easier.
Smart card — A plastic card with a microprocessor that can be loaded with
funds to make transactions; also known as a chip card.
1
2. Cash Payment System
2. Cash Payment System
Direct debit — A financial transaction in which the account holder instructs
the bank to collect a specific amount of money from his account electronically
to pay for goods or services.
E-check — A digital version of an old paper check. It’s an electronic transfer
of money from a bank account, usually checking account, without the use of the
paper check.
E-cash is a form of an electronic payment system, where a certain amount of
money is stored on a client’s device and made accessible for online
transactions.
Stored-value card — A card with a certain amount of money that can be used
to perform the transaction in the issuer store. A typical example of stored-value
cards are gift cards.
Concept of EDI
Electronic data interchange (EDI) is the concept of businesses electronically communicating
information that was traditionally communicated on paper, such as purchase orders and
invoices. Technical standards for EDI exist to facilitate parties transacting such instruments
without having to make special arrangements.
Limitations of EDI
While countless businesses enjoy the benefits of EDI, some companies are still cautious to try it
out due to the following limitations of EDI.
1. Cost of Implementation.
It is true that EDI provides massive cost savings benefits but for small businesses re-designing
and implementing software applications to fit in EDI into current applications can be quite costly.
Such limitations of EDI must be considered if you plan on implementing such system.
EDI also necessitates substantial investment in computer networks and security systems for
maximum security. Any EDI system installed would require protection from hacking, malware,
viruses, and other cybersecurity threats.
2
3. Preliminary Setup Consumes Time
Not only is the implementation of EDI system expensive to install, but it also consumes a
considerable amount of time to set up the essential parts. Thus, such limitations of EDI can
hinder fast-tracking of services if urgently required.
Numerous businesses looking to implement EDI also consider the several standards involved.
These limitations of EDI do not allow small businesses to exchange data with larger
establishments that make use of latest edition of a document standard. Some known measures
include ANSI ASC X12, GS1 EDI, HL7, TRADACOMS, and UN/EDIFACT.
EDI implementation also requires regular maintenance as the business functionality is highly
dependent on it. Some robust data backup system is needed in case of system crash or for
statistical purpose. Such limitations of EDI can cost some substantial amount to implement.
Retail Sector – In the retail sector profit margins usually depend upon efficient
inventory management. EDI provides a structured way to maintain and replenish
goods stocked at a retail outlet. Retailers use a common model stock for each shop
location and the point of sale stock position is updated continuously and data in fed
3
via EDI enabled SCM (supply chain management) network. The EDI software monitors
all the logistics and makes updates in the original stock.
Financial Sector – In the financial sector EDI replaces the labour intensive activities
of collecting, processing and dispersing payments with an electronic system. It
facilitates the flow of payment between the bank accounts of trading partners
without requiring any human intervention. A payee`s bank account is electronically
4
credited and the payer`s account is electronically credited on the scheduled day of
payment; such an exchange is known as electronic fund transfer (EFT).
DISSADVANTAGES OF EDI
1) Expensive
Setup and maintenance of some of the formats of EDI is expensive.
5
INTRODUCTION TO EPS
An e-payment system is a way of making transactions or paying for goods and
services through an electronic medium, without the use of checks or cash. ...
The electronic payment system has grown increasingly over the last decades
due to the growing spread of internet-based banking and shopping.
Credit Card
Debit Card
Smart Card
E-Money
Credit Card
Payment using credit card is one of most common mode of electronic
payment. Credit card is small plastic card with a unique number attached
with an account. It has also a magnetic strip embedded in it which is used
to read credit card via card readers. When a customer purchases a product
via credit card, credit card issuer bank pays on behalf of the customer and
customer has a certain time period after which he/she can pay the credit
card bill. It is usually credit card monthly payment cycle. Following are the
actors in the credit card system.
6
The merchant − seller of product who can accept credit card payments.
Step 4 Card brand company authenticates the credit card and pays the
transaction by credit. Merchant keeps the sales slip.
Step 5 Merchant submits the sales slip to acquirer banks and gets the
service charges paid to him/her.
Step 6 Acquirer bank requests the card brand company to clear the
credit amount and gets the payment.
Step 6 Now the card brand company asks to clear the amount from the
issuer bank and the amount gets transferred to the card brand
company.
Debit Card
Debit card, like credit card, is a small plastic card with a unique number
mapped with the bank account number. It is required to have a bank
account before getting a debit card from the bank. The major difference
between a debit card and a credit card is that in case of payment through
debit card, the amount gets deducted from the card's bank account
immediately and there should be sufficient balance in the bank account for
7
the transaction to get completed; whereas in case of a credit card
transaction, there is no such compulsion.
Debit cards free the customer to carry cash and cheques. Even merchants
accept a debit card readily. Having a restriction on the amount that can be
withdrawn in a day using a debit card helps the customer to keep a check
on his/her spending.
Smart Card
Smart card is again similar to a credit card or a debit card in appearance,
but it has a small microprocessor chip embedded in it. It has the capacity
to store a customer’s work-related and/or personal information. Smart
cards are also used to store money and the amount gets deducted after
every transaction.
Smart cards can only be accessed using a PIN that every customer is
assigned with. Smart cards are secure, as they store information in
encrypted format and are less expensive/provides faster processing.
Mondex and Visa Cash cards are examples of smart cards.
E-Money
E-Money transactions refer to situation where payment is done over the
network and the amount gets transferred from one financial body to
another financial body without any involvement of a middleman. E-money
transactions are faster, convenient, and saves a lot of time.
Online payments done via credit cards, debit cards, or smart cards are
examples of emoney transactions. Another popular example is e-cash. In
case of e-cash, both customer and merchant have to sign up with the bank
or company issuing e-cash.
8
other account if it is in the same bank, otherwise the transfer request is
forwarded to an ACH (Automated Clearing House) to transfer the amount
to other account and the amount is deducted from the customer's account.
Once the amount is transferred to other account, the customer is notified
of the fund transfer by the bank.
TRADATIONAL PAYMENT
Credit Cards
9
The most common form of payment for e-commerce transactions is through credit
cards. To use this system, shoppers simply enter their credit card number and date
of expiry in the appropriate area on a web page. Increased security measures, such
as the use of a card verification number (CVN), located on the back of the credit
card, have been added to on-line credit card payment systems. The CVN system
detects fraud by comparing the CVN with the cardholder's information as supplied by
their bank.
PAPERLESS BILL
Electronic billing is a bill payment method in which a customer can pay bills
electronically over the Internet to an entity or organization. It is widely accepted by
many government entities and other organizations. Due to multiple benefits provided
by electronic billing, it is one of the most preferred methods of bill payment.
Electronic billing is also known as electronic invoice presentment and payment
(EIPP).
E-CASH
10
There are many advantages and disadvantages to shopping online. I have been shopping
online for over four years and feel that I am fairly well qualified to compare and contrast online
and local stores one walks into to shop
ADVANTAGES OF SHOPPING ONLINE
1. You can do it 24/7. You can shop whenever you want. If you want to buy a new Mobile at 3
a.m., you can.
2. You can shop from the comfort of your own home. If it is hot outside, you don't have to go
out in the heat. If you don't feel like getting dressed, you can wear your pjs (or even nothing at
all). If there is a foot of snow on the roads and you can't get out, you can still shop. Also, if
you don't feel well, this is definitely the way to shop
3. Wide variety of stores within a few clicks. This is very important for me since there are few
stores in our locale. However, I can get online and find almost anything I need or want. I have
been able to sample foods from all over the world via online shopping
4. Comparision shopping is simplified. Let's say your Wife has told you that she would like
apple ipod for her birthday. Comparing the prices of this ipod is much easier online than by
running to a variety of video stores. The easiest way is to use some price comparison sites
such as ebay.in or tradus.in.
5. Discount coupons are more readily available online. For example, if you are planning to
buy a book at a Local bookstore, you are unlikely to find a coupon to reduce the cost of the
book. However, many online bookstores (like other types of online stores) offer discount
coupons.
6. No lines to wait in nor cranky people to deal with. Many people find this to be great,
especially during the holiday season when lines and tempers can both flare. Also, all of us
have days when we are "out of sort" and no one has to deal with US when we shop online.
7. You don't have to drag kids all over the place. It can be a real challenge to shop with
several little "pitter-pattering" feet around you who have "shopped 'til they have dropped" the
moment they entered the store.
8. You can use anyone's credit card (assuming that they authorized you to use it. Careful
clerks will not allow you to do this in the store. However, there are times when that person is
not available and they have approved of your purchase.
9. You can listen to whatever music you like while shopping online. Or, you can listen to
the TV, talk on the phone, or listen to NOTHING at all. However, if you are in the store, you
may have to hear someone else's kid screaming, hear boaring music,or hear stuff you just
don't want to listen to
10. Online shopping is PERFECT for buying gifts that are to be sent to distant friends or
relatives. Most online stores will even wrap the gift for you before sending it. You can even
indicate that it is a gift so that the invoice is not included with the item. Buying these types of
gifts online is very convenient since you don't have to wrap the gift, properly package it, and
then drag it to the post office.
11. One can shop in private. There are times when privacy really matters for many people. For
example, lets say that someone needs to buy condoms, or bra. Many people would be too
embarrassed to buy these items in a store where they have to face at least one other person
who knows what they are buying. When you buy these items online, that embarrassment is
minimized.
11
3. If you have a slow connection or if there are many shoppers at this site, shopping will
take F-O-R-E-V-E-R. I only have a 56K dial-up modem so I find that online shopping can take
a considerable amount of time. Sure, I know that it does take time to get into the car, drive to
the store, park, walk around the store, check out, find the car, drive home, and unpack the
stuff. However, at least I am busy doing these things so I don't get as annoyed as I do when I
have to sit and wait for page upon page to load.
4. You can't buy with cash or write a check (at most sites). If I want to pay for PENDRIVE at
local store, I can pay cash, write a check,However, on-line one is typically limited to using
either a credit or debit card.
5. You can't touch the item, let alone try it on. The same difficulties one encounters while
shopping from a catalog plagues online shopping also. That wonderful burgundy dress that
you see on the screen may actually turn out to be more of a purple shade. Or, the material
may be flimsier than what you had expected. And, it will probably look much better on the
model than it does on you (unless you are a raving beauty also). In a B&M store, you see the
real color, can feel the material, and can try on the item. Likewise, I have a hard time
imagining how big a 9" X 3" X 8" purse is. However, when I can pick it up in the store and
compare it to the purse I am already carrying, I KNOW if it is the size that I would like. I also
KNOW if I like the feel of the material, whether the straps will comfortable fit over my
shoulder, etc.
6. Returns are more difficult online than in Local stores suppose you buy a shirt from yebhi
and it doesn't fit you when you try to return you have to pay shipping + 10-15 days of waiting
to get refund
7. Shipping and handling costs can be astronomical i have seen many items on ebay which
is selling at rs 25 but shipping charges are 75 300% more than item value
8. On-line shopping lacks the personal touch. There is no clerk to smile at you and say,
"How are you today?
9. Dangerous for shopaholics. Don't laugh. This is serious. In the past, a shopaholic didn't
have to worry about controlling their addiction while at home. However, if their is no internet
access in the home, that person must face their addictive behaviors even while at home.
10. You can read parts of a book at a bookstore but not online. Browsing for books online is
very difficult for me to do. I like to read a few pages to make sure that I can "get into it" before
I buy it. This is not allowed online.
11. payment got stuck it happened with me many times while paying item internet gets fail or
something gets wrong and i have to email lot of time to cc avenue and shopping sites
12
of paid inclusion, contextual advertising, and paid placement, and search
engine optimization.
Blog Marketing
Blog marketing is internet marketing by way of web logs (blogs). Blogs are
different than corporate websites because they contain daily or weekly
postings, many times around a single subject. Many corporations use blogs
to foster a dialog with customers so that they can explain the features of
their products and services.
Email Marketing
This is a type of direct marketing that uses Email to communicate
commercial or fundraising messages to an audience. Emails are sent with
the purpose of:
• Strengthening the relationship of the business person with his/her
previous and current clients to create customer loyalty
• Acquiring new clients or convincing existing clients to purchase something
• Adding advertisements sent by other businesses to their clients.
Viral Marketing
Viral marketing is a marketing technique that creates brand awareness by
using social networks that already exist. Viral marketing increases brand
awareness and achieves other marketing objectives (such as product
sales) through self-replicating viral processes, analogous to the spread of
pathologic and computer viruses. Information can be spread by word-of-
mouth or it can be enhanced by the network effects of the internet. Viral
promotions might be in the form of video clips, Ebooks, images, text
messages, or brandable software.
Social Media Marketing
Social media marketing is a term that describes the act of using social
networks, online communities, blogs, wikis, and other collaborative internet
forms of media for marketing, sales, public relations, and customer service.
Common social media marketing tools include Twitter, blogs, LinkedIn,
Facebook, Flickr, and YouTube.
Article Marketing
Article marketing is advertising in which businesses write short articles
related to their industry. These articles are made available for publication
and distribution in the marketplace. Each article contains a bio box and
byline that include references and contact information for the author’s
business. Well-written content articles released for free distribution have
the potential of increasing the business’ credibility within its market as well
as attracting new customers.
Affiliate Marketing
Affiliate marketing is an internet-based marketing practice in which a
business rewards one or more affiliates for each visitor or customer brought
about by the affiliate’s marketing efforts.
Geo Marketing
Geo targeting (in internet marketing) and geo marketing are the methods of
13
determining the geolocation (the physical location) of a website visitor with
geolocation software and delivering customized content to that visitor
based on his or her location, such as country, region/state, city, metro
code/zip code, organization, Internet Protocol (IP) address, ISP, or other
criteria.
THE E CYCLE OF INTERNET MARKETING
Corporate strategy addresses the interrelationship between the various business units
in a firm, including decisions about which units should be kept, sold, or augmented.
Business-unit strategy focuses on how a particular unit in the company attacks a
market to gain competitive advantage.
Stage two entails the analysis of market opportunities and an initial first pass of the
business concept—that is, collecting sufficient online and offline data to establish the
burden of proof of opportunity assessment.
14
sequencing of actions must be tightly aligned with the business-unit strategy. Finally,
the overall marketing strategy comprises both offline and online marketing activities.
Firms must understand the type of customer experience that needs to be delivered to
meet the market opportunity. The experience should correlate with the firm’s
positioning and marketing strategy. Thus, the design of the customer experience
constitutes a bridge between the high-level marketing strategy (step three) and the
marketing program tactics (step five).
The Internet has shifted the locus of the exchange from the Marketplace (i.e., face-to-
face interaction) to the Marketspace (i.e., screen-to-face interaction). The key
difference is that the nature of the exchange relationship is now mediated by a
technology interface. This interface can be a desktop PC, subnotebook, personal
digital assistant, mobile phone, wireless applications protocol (WAP) device, or other
Internet-enabled appliance.
This last stage involves the evaluation of the overall Internet marketing program. This
includes a balanced focus on both customer and financial metrics. It emphasizes
customer actions as well as financial metrics used to track the success of marketing
programs.
Elite Infoworld is a leading compnay in digital marketing will provide you different
services like Search engine optimization, social media optmization and internet
marketing Services.
INTEGRATED MARKETING
16