Podcast
Questions and Answers
A business is considering integrating cryptocurrency payments into its online platform. What is the MOST important factor to consider regarding e-money?
A business is considering integrating cryptocurrency payments into its online platform. What is the MOST important factor to consider regarding e-money?
- Cryptocurrencies are primarily used for large-scale transactions due to their high transfer fees.
- Cryptocurrencies are universally accepted and easily converted to any fiat currency.
- Cryptocurrencies are not regulated by financial authorities, unlike most forms of e-money. (correct)
- Cryptocurrencies are immune to cybersecurity threats due to their decentralized nature.
A retail business wants to expand its payment options to include methods beyond traditional credit and debit cards. Which combination of payment methods would BEST cater to a diverse customer base, including those in rural areas with limited internet access?
A retail business wants to expand its payment options to include methods beyond traditional credit and debit cards. Which combination of payment methods would BEST cater to a diverse customer base, including those in rural areas with limited internet access?
- UPI and QR Code Payments
- Digital Wallets and Cryptocurrency Payments
- Net Banking and Buy Now, Pay Later (BNPL) (correct)
- Prepaid cards and Net Banking
A customer is unable to complete an online transaction using their preferred digital wallet. Which infrastructure issue is the MOST likely cause of this failure?
A customer is unable to complete an online transaction using their preferred digital wallet. Which infrastructure issue is the MOST likely cause of this failure?
- Lack of Payment Terminals
- Compatibility Issues Between Payment Platforms (correct)
- Limited Adoption of Cryptocurrency Payments
- Inadequate Availability of Prepaid Cards
Which of the payment methods listed does NOT directly involve transferring funds from a bank account at the time of purchase?
Which of the payment methods listed does NOT directly involve transferring funds from a bank account at the time of purchase?
A small business owner is deciding whether to invest in upgrading their payment systems to accept a wider range of electronic payment methods. What is the MOST significant risk they should consider?
A small business owner is deciding whether to invest in upgrading their payment systems to accept a wider range of electronic payment methods. What is the MOST significant risk they should consider?
A company wants to implement a payment solution that allows customers to make direct bank-to-bank transfers in real-time. Which of the following options BEST aligns with this requirement?
A company wants to implement a payment solution that allows customers to make direct bank-to-bank transfers in real-time. Which of the following options BEST aligns with this requirement?
Which of the following BEST describes a key difference between e-money and cryptocurrency?
Which of the following BEST describes a key difference between e-money and cryptocurrency?
What is a potential consequence of poor internet connectivity in rural areas regarding electronic payment systems?
What is a potential consequence of poor internet connectivity in rural areas regarding electronic payment systems?
Which of the following is MOST critical for ensuring secure online transactions within an e-commerce platform?
Which of the following is MOST critical for ensuring secure online transactions within an e-commerce platform?
A newly established e-commerce business in India is struggling with payment processing. Which factor, if absent, would MOST directly explain their difficulty?
A newly established e-commerce business in India is struggling with payment processing. Which factor, if absent, would MOST directly explain their difficulty?
Which of the following scenarios BEST illustrates a potential risk associated with neglecting regulatory compliance in an electronic payment system?
Which of the following scenarios BEST illustrates a potential risk associated with neglecting regulatory compliance in an electronic payment system?
Suppose an e-commerce website is experiencing frequent transaction failures. Based on the requirements of a digital payment system, which of the following is the MOST likely cause?
Suppose an e-commerce website is experiencing frequent transaction failures. Based on the requirements of a digital payment system, which of the following is the MOST likely cause?
What is the primary function of a payment gateway like Razorpay or PayPal in the electronic payment system?
What is the primary function of a payment gateway like Razorpay or PayPal in the electronic payment system?
Which of the following technologies is LEAST directly involved in ensuring the 'User Authentication & Security' of digital payments?
Which of the following technologies is LEAST directly involved in ensuring the 'User Authentication & Security' of digital payments?
A customer reports that their online payment was debited from their account, but the e-commerce website has no record of the transaction. Which aspect of the digital payment system MOST likely failed?
A customer reports that their online payment was debited from their account, but the e-commerce website has no record of the transaction. Which aspect of the digital payment system MOST likely failed?
Which requirement of a successful digital payment system focuses MOST on making the payment process easy and intuitive for customers?
Which requirement of a successful digital payment system focuses MOST on making the payment process easy and intuitive for customers?
Flashcards
E-Commerce
E-Commerce
Buying and selling of goods or services using the internet.
E-Commerce Barriers
E-Commerce Barriers
Challenges and obstacles that hinder the growth and adoption of e-commerce, such as security concerns and lack of infrastructure.
E-Transition
E-Transition
The shift or move towards conducting business activities and transactions online.
HTML
HTML
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Electronic Payment System (EPS)
Electronic Payment System (EPS)
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User Authentication
User Authentication
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Payment Gateways
Payment Gateways
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Regulatory Compliance
Regulatory Compliance
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Electronic Payments
Electronic Payments
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E-Money
E-Money
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Credit & Debit Cards
Credit & Debit Cards
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Digital Wallets
Digital Wallets
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UPI (Unified Payments Interface)
UPI (Unified Payments Interface)
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Net Banking
Net Banking
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Cryptocurrency Payments
Cryptocurrency Payments
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Buy Now, Pay Later (BNPL)
Buy Now, Pay Later (BNPL)
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Study Notes
- BBA 114: E-Commerce provides an introduction to E-Commerce and HTML.
Unit I: Introduction to E-Commerce
- Covers the meaning, nature, concepts, advantages, and disadvantages, as well as reasons for transacting online.
- Details Electronic Commerce types and models.
- Outlines the challenges and barriers, the transition, readiness, and the E-Transition challenges for Indian corporates in the E-Commerce environment in India.
Unit II: HTML
- Covers elements, tags, and the basic structure of HTML files.
- Discusses basic and advanced text formatting.
- Mentions multimedia components in HTML documents.
- Designing of webpages is included:Document Layout, List, Tables, Hyperlink, Working with Frames, Forms and Controls.
Unit III: Electronic Payment System
- Payment system consists of digital payment requirements, electronic payment systems and types of electronic payment systems.
- Includes concept of e-Money and electronic fund transfer
- Outlines Infrastructure Issues and Risks in EPS
- Outlines the necessity and concepts of security Issues in E-Commerce.
- Discusses the Electronic Commerce security environment and its threats.
- Includes basics of Encryption and Decryption.
Unit IV: E-commerce Applications
- Discusses E-commerce applications in various industries, emerging trends in E-Commerce and mobile commerce.
- Includes economic, technological, and social considerations and regulatory and ethical considerations in E-Commerce.
Digital Payment Requirements
- Essential for online transactions Reliable Internet and secure networks
- Authentication methods such as OTP, biometrics, and encryption ensure secure transactions.
- Platforms, such as Razorpay and PayPal, process payments securely.
- Crucial for fund transfers, this requires integration with banks
- A simple and efficient UI/UX improves the customer experience.
- Payment systems must adhere to legal regulations like RBI guidelines in India or PCI-DSS for data security.
- Payments must be processed efficiently and quickly without delays.
Electronic Payment Systems (EPS)
- EPS is a digital method for making financial transactions instead of using cash or checks, which enable people and businesses to electronically pay for goods and services online.
- Traditional card-based transactions use networks, that include Visa and Mastercard, these are credit and debit cards.
- Digital Wallets such as GooglePay, Apple Pay and Paytm, store card details for efficient payments.
- UPI is a real-time payment system in India that enables bank-to-bank transfers.
- Net banking includes online banking services banks provide that allow direct payments.
- Cryptocurrency Payments include digital currency transactions using Bitcoin and Ethereum.
- BNPL(Buy Now, Pay Later) includes services such as FlipkartPaylater and Amazon Paylater that allow deferred payments.
- QR Code Payments includes payments using QR codes scanned via mobile wallets.
Concept of E-Money
- E-Money (Electronic Money) refers to digital currency stored electronically and used for online transactions instead of physical cash.
- Users can make payments through computers, smartphones, or other digital devices.
- Stored digitally in e-wallets, prepaid cards, and online banking accounts
- It functions for bill payments, online shopping, and fund transfers.
- E-money is usually linked to traditional currency (e.g., USD, INR) regulated by financial authorities, unlike cryptocurrency.
- Mobile wallets like Google Pay, Apple Pay and Paytm are examples of E-Money.
- Gift cards, travel cards and prepaid cards are examples of e-money.
- Digital bank accounts and online banking transactions are examples of E-Money.
- E-money allows payments that are faster and more convenient, reducing physical cash.
Infrastructure Issues and Risks in Electronic Payment Systems(EPS) and E-Money
- Issues refer to problems relating to the systems and technology that supports electronic payments.
- Internet Connectivity - unstable or bad internet access disrupt transactions
- Lack of Payment Terminals- Rural regions without enough ATMs or POS
- Compatibility Issues - Transaction failures from Payment platforms and different banks that not compatible
- System Downtime -Outages that delay transactions from mobile wallets, payment gateways and banking services
- Cybersecurity Weaknesses -Fraud and hacking from poor security in payment systems
- Risks Associated with EPS and E-Money include financial, security, and operational risks.
- Cybercriminals that steal from malware, phishing or theft fraud
- Disclosure of personal and financial data results in losses
- Transaction Errors cause trust loss or inconveniences due to delays and or failures
- Changing regulations- Payment systems are affected by laws and proper regulations in some countries
- There is Digital Divide because the elderly or those without tablets struggle to access payments.
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Description
This lesson introduces E-Commerce fundamentals. It covers electronic commerce types and models, including reasons for transacting online, advantages, and disadvantages. It also details HTML structure, formatting and webpage design fundamentals.
