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E-COMMERCE / SHOPPING CARTS
Ecommerce, or Electronic Commerce, is one of the
most important aspects of the internet. It allows people to exchange
goods and services instantly, there being no limitation of time
or distance. However, creating a successful online store can be
difficult and confusing if one is not fully aware of the concepts
and principles behind e-commerce.
A
B Web Designs can provide solutions at any level, from secure
transmission of credit card information via Paypal, to online processing
using your merchant account or find a merchant account for you.
I can also create the shopping cart, if you need it, for any number
of products. I can enable you to collect donations, receive payments
for services or digital delivery of products or have a full products
shopping cart. This shopping cart can be integrated with PayPal
or any other merchant account.
To help you understand, the basics of ecommerce, I am
giving a brief summary of the steps required to set up e-commerce on a
website as well as the meaning of a few common terms in e-commerce.
Brief Description of How E-Commerce Works
The consumer visits the merchant's web site through the internet.
Here he decides what he wants to purchase and is moved to the online transaction
server, where all of the information he gives (including credit card info)
is encrypted. Once he has placed his order, the information moves through
a private gateway to a Processing Network, where the issuing and acquiring
banks complete or deny the transaction. This generally takes place in
no more than 5-7 seconds. There are many different payment systems available
to accommodate the varied processing needs of merchants, from those who
have a few orders a day to those who process thousands of transactions
daily. With the addition of Secure Socket Layer technology, eCommerce
is also a very safe way to complete transactions.
The basic steps in setting up an eCommerce enabled site are:
1. Web Designing & Hosting
2. Getting an Internet Merchant Bank Account
3. Obtaining a Digital Certificate
4. Finding a Provider of Online Transactions
5. Creating or Purchasing a Shopping Cart Software
PAYPAL
Integrating PayPal with your website simplifies things.
The website owner does not have to go through steps 2 to 5. Moreover,
PayPal is affordable for businesses of all sizes.
PayPal Website Payments Standard
https://www.paypal.com/cgi-bin/webscr?cmd=_wp-standard-overview-outside
Fees are applied only when you accept a payment—if you don't receive
money, you don't pay a penny.
• No monthly fees
• No setup fees
• No gateway fees
• Free eBay and Merchant tools
• Antifraud systems at no extra cost
Fees per transaction (USD) - 2.9% + $0.30 USD
Total minimum expenditure is $0.00. If you don’t make a sale, then,
you don’t pay anything to PayPal.
Common Terms Used In E-Commerce
Merchant Bank Account
This offers merchants the ability to accept all forms of non-cash
payment, including Visa, MasterCard, American Express, and Discover
Cards.
Digital Certificate
An attachment to an electronic message used for security purposes.
A digital certificate, also known as a SSL Server Certificate, enables
SSL (Secure Socket Layer encryption) on the web server. SSL protects
communications so you can take credit card orders securely and ensure
that hackers cannot eavesdrop on you. Any eCommerce company will
require you to have SSL before you can use their services. For most
people obtaining a digital certificate is not a problem. For a minimal
fee, one can usually use the certificate owned by the web hosting
company where their website resides.
EBPP
Short for electronic bill presentment and payment, the process by
which companies bill customers and receive payments electronically
over the Internet.
EDI
Short for Electronic Data Interchange, the transfer of data between
different companies using networks, such as the Internet. As more
and more companies get connected to the Internet, EDI is becoming
increasingly important as an easy mechanism for companies to buy,
sell, and trade information.
SET
Short for Secure Electronic Transaction, a standard that will enable
secure credit card transactions on the Internet. SET has been endorsed
by virtually all the major players in the electronic commerce arena,
including Microsoft, Netscape, Visa, and MasterCard.
By employing digital signatures, SET will enable merchants to verify
that buyers are who they claim to be. And it will protect buyers
by providing a mechanism for their credit card number to be transferred
directly to the credit card issuer for verification and billing
without the merchant being able to see the number.
Shopping Cart
A shopping cart is a piece of software that acts as an online store's
catalog and ordering process. Typically, a shopping cart is the
interface between a company's Web site and its deeper infrastructure,
allowing consumers to select merchandise; review what they have
selected; make necessary modifications or additions; and purchase
the merchandise.
Shopping carts can be sold as independent pieces of software so
companies can integrate them into their own unique online solution,
or they can be offered as a feature from a service that will create
and host a company's e-commerce site.
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