Problem 1: On-line payment providers have started playing big role in today’s payment system, predominantly, when Internet offers new business opportunities, making E-payment very convenient. Therefore, accepting electronic payments have become very important to modern businesses.
Question1. List and explain the role of the different parties involved in any e-payment technique.
Question2. Write down five factors (characteristics) which determine the acceptance of an e-payment technique.
Question3. Illustrate the term micropayments. Why are they appropriate for e-cash payment as compared to credit card payment?
i) Explain the term e-check.
ii) Using the Authorize.net portal as an example, explain the steps in processing of e-checks over Internet.
iii) Provide two advantages of e-checks.