Problem:
On-line payment providers have started playing a big role in today’s payment system, particularly, when Internet offers new business opportunities, making E-payment very convenient. Hence, accepting electronic payments have become very essential to modern businesses.
Required:
Question1. Mention and illustrate the role of the dissimilar parties involved in any e-payment method.
Question2. Mention five factors (characteristics) that determine the acceptance of an e-payment method.
Question3. Illustrate out the term micropayments. Why are they appropriate for e-cash payment as compared to credit card payment?
Question4. (i) Illustrate out the term e-check.
(ii) Using the Authorize.net portal as an instance, illustrate the steps in processing of e-checks over the Internet.
(iii) Provide two benefits of e-checks.