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E Commerce Notes

E-commerce involves the buying and selling of goods and services over electronic networks like the internet. There are four main types of e-commerce: business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer (C2C), and consumer-to-business (C2B). E-commerce faces threats like fraud, tax evasion, and payment conflicts. Technological solutions to these threats include using secured payment gateways, firewalls, HTTPS/SSL certificates, and encryption to protect personal and financial information online.

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31 views

E Commerce Notes

E-commerce involves the buying and selling of goods and services over electronic networks like the internet. There are four main types of e-commerce: business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer (C2C), and consumer-to-business (C2B). E-commerce faces threats like fraud, tax evasion, and payment conflicts. Technological solutions to these threats include using secured payment gateways, firewalls, HTTPS/SSL certificates, and encryption to protect personal and financial information online.

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Black Clover
Copyright
© © All Rights Reserved
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Download as DOCX, PDF, TXT or read online on Scribd
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E commerce

E-commerce (electronic commerce) is the buying and selling of goods and services, or
the transmitting of funds or data, over an electronic network, primarily the internet.
1. Business-to-Business (B2B)
Business-to-Business (B2B) e-commerce encompasses all electronic transactions of goods or
services conducted between companies. Producers and traditional commerce wholesalers
typically operate with this type of electronic commerce.
2. Business-to-Consumer (B2C)
The Business-to-Consumer type of e-commerce is distinguished by the establishment of
electronic business relationships between businesses and final consumers. It corresponds to
the retail section of e-commerce, where traditional retail trade normally operates.
3. Consumer-to-Consumer (C2C)
Consumer-to-Consumer (C2C) type e-commerce encompasses all electronic transactions of
goods or services conducted between consumers. Generally, these transactions are conducted
through a third party, which provides the online platform where the transactions are actually
carried out.
4. Consumer-to-Business (C2B)
In C2B there is a complete reversal of the traditional sense of exchanging goods. This type of e-
commerce is very common in crowdsourcing based projects. A large number of individuals make their
services or products available for purchase for companies seeking precisely these types of services or
products.

HTML

HTML stands for HyperText Markup Language. It is a standard markup language for web page
creation. It allows the creation and structure of sections, paragraphs, and links using HTML elements
(the building blocks of a web page) such as tags and attributes.

OUTSOURCING

Outsourcing is the business practice of hiring a party outside a company to perform services or
create goods that were traditionally performed in-house by the company's own employees and staff.
Outsourcing is a practice usually undertaken by companies as a cost-cutting measure.

Digital currency is any currency that's available exclusively in electronic form.

Real Time Gross Settlement (RTGS) is an electronic form of funds transfer where the transmission
takes place on a real time basis.

A debit card is a card issued by a bank or credit union to checking account holders that is used to
access funds in the account. You can use a debit card to access cash from an ATM or to buy goods or
services.

A credit card is a financial instrument issued by banks with a pre-set credit limit, helping you make
cashless transactions. The card issuer determines the credit limit based on your credit score, credit
history and your income.

A digital signature is a mathematical technique used to validate the authenticity and integrity of a
digital document, message or software. It's the digital equivalent of a handwritten signature or
stamped seal, but it offers far more inherent security.
Gartner defines a core banking system as a back-end system that processes daily banking
transactions, and posts updates to accounts and other financial records.

DIFFERENCE BETWEEN IMPS AND NEFT

 IMPS is mainly regulated by the NPCI whereas NEFT is regulated by RBI


 While IMPS is quick and instant, NEFT is a little time-taking as it is
dependent on bank working hours
 IMPS is a direct transfer and is a one-to-one settlement method, whereas
NEFT goes through pooling and clearance centers and settles money in the
beneficiary’s account batch-wise
 You can make an IMPS payment by logging into internet banking service,
mobile banking, through UPI or via ATM. On the other hand, you can do
NEFT only through internet banking, provided it is enabled
Rationale of transacting online

Online payments give consumers the hassle-free experience they want at no cost —and plenty of
timesaving benefits. In tandem, they provide small businesses that accept them with the operational
efficiencies they need to meet (and hopefully exceed) customer expectations.

Threats to E Commerce
1. Fraud
The users have pins or passwords to facilitate an online transaction. But payment
authorization based on just passwords and security questions does not guarantee the
identity of a person. This may lead to a fraud case if someone else gets ahold of our
passwords. This way the third person can steal money easily.

2. Tax Evasion
The invoice is provided by the companies as paper records to verify tax collection.
But in an online scenario, things become blurry and the Internal Revenue Service
faces the challenge. It becomes hard for them to process tax collection and verify if
the organization is being ethical or not.

3. Payment Conflicts
These transactions take place between automated electronic systems and the users.
Because it’s a machine at the end of the day, errors while handling payments are
possible. These glitches and anomalies lead to conflicts of payment and users end up
losing their money.

4. E-cash
The paperless cash system is by using online wallets like PayPal, GooglePay, Paytm,
etc. Because all the financial information is in that application, a single security
breach can lead to the disclosure of private information and monetary loss.

Technogical solutions to overcome these threats


1. Secured Payment Gateway
Using only secured payment getaway is the smartest instruction to follow during
online transactions. These gateways have better security and nondisclosure policies
to protect all the consumers.
2. Use firewall
A very common technique to block security threats and control network traffic by
following defined rules. It is a type of network security software that functions
according to security measures put forward by the users. This includes protection
from most of the cyber threats like XSS, SQL injection, trojan, etc.

3. HTTPS and SSL certificates


SSL and HTTPS certificates follow a standard protocol that encrypts personal data
before transferring it to e-commerce websites. The consumers stay protecting if the
website has both certificates. The hackers even with access to information cannot do
much with encrypted data.

4. Encryption
A method of converting normal language into a coded one so that hackers can’t crack
it. It is essential for websites to follow encryption to avoid data breach at all costs.
Only a handful of trained individuals should be able to decrypt this cipher text
ensuring safety at all times.

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