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main street of the world. Providing a quick and convenient way of exchanging goods and services both regionally and globally, e-commerce has boomed. Today, e-commerce has grown into a huge industry with US online retail generating $175B in revenues in 2007, with consumerdriven (B2C) online transactions impacting industries from travel services to consumer electronics, from books and media distribution to sports & fitness. With more than 70% of Americans using the Internet on a daily basis for private and/or business use and the rest of the world also beginning to catch on, e-commerce's global growth curve is not likely to taper off anytime soon. However, the US recession has taken its toll on online sales. Although early 2008 estimates by Forrester Research were very strong with 2008 revenues upwards of $204B (a 17% growth rate), 2008 holiday sales showed the first decrease in the last 7 years. Research by ComScore shows sales declining by 1% for the first 49 days of the holiday season. In the last decade, many startup e-commerce companies have rapidly stolen market share from traditional retailers and service providers, pressuring these established traditional players to deploy their own commerce websites or to alter company strategy in retaliation. This effect is most pronounced in travel services and consumer electronics. According to comScore, online leisure travel bookings reached about $51B in 2005, or 44% of all online sales, which were around $122B in the same year. Roughly 30% of all travel bookings currently occur online. Consumer electronics, which includes the purchase of digital cameras, mobile phones, and home PC's, accounted for nearly $26B of worldwide e-commerce sales occurring in 2006, according to the NPD Group. As traditional brick and mortar firms continue to lose market share to e-commerce players, they will likely see continued declines in their revenues, operating margins, and profits. It is important to note that most ecommerce players are at a competitive advantage to retailers. They have lower operating expenses and better inventory management due to operating in a virtual commerce environment. For example, Amazon.com (AMZN)has revenue per employee of nearly $850k while its retail counterpart, Best Buy (BBY), generates revenue per employee of only $270k. Clearly, e-commerce vendors will have the most to gain if they successfully disrupt retail customer
acquisition, disintermediate distributors/resellers, and under-price retail establishments. As a consequence of e-commerce vendor gains, financial transaction processors and parcel shipping companies are among ancillary vendors who will gain.
Electronic commerce, commonly known as ecommerce or eCommerce, or e-business consists of the buying and selling of products orservices over electronic systems such as the Internet and other computer networks. The amount of trade conducted electronically has grown extraordinarily with widespread Internet usage. The use of commerce is conducted in this way, spurring and drawing on innovations in electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange(EDI), inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web at least at some point in the transaction's lifecycle, although it can encompass a wider range of technologies such as e-mail as well. A large percentage of electronic commerce is conducted entirely electronically for virtual items such as access to premium content on a website, but most electronic commerce involves the transportation of physical items in some way. Online retailers are sometimes known as e-tailers and online retail is sometimes known as e-tail. Almost all big retailers have electronic commerce presence on the World Wide Web. Electronic commerce that is conducted between businesses is referred to as business-to-business or B2B. B2B can be open to all interested parties (e.g. commodity exchange) or limited to specific, pre-qualified participants (private electronic market). Electronic commerce that is conducted between businesses and consumers, on the other hand, is referred to as business-toconsumer or B2C. This is the type of electronic commerce conducted by companies such as Amazon.com. Online shopping is a form of electronic commerce where the buyer is directly online to the seller's computer usually via the internet. There is no intermediary service. The sale and purchase transaction is completed electronically and interactively in realtime such as Amazon.com for new books. If an intermediary is present, then the sale and purchase transaction is called electronic commerce such as eBay.com. Electronic commerce is generally considered to be the sales aspect of e-business. It also consists of the exchange of data to facilitate the financing and payment aspects of the business
Wireless Application Protocol (WAP) is an open international standard for application-layer network communications in a wireless-communication environment. Most use of WAP involves accessing the mobile web from a mobile phone or from a PDA. A WAP browser is a commonly used web browser for small mobile devices such as cell phones or PDAs, developed to allow a realistic browsing experience to users. Given then, the inherent physical and technical limitations of these devices such as size and data transfer speeds, new code was created, and the WAP browser accesseswebsites written in, or dynamically converted to, WML (Wireless Markup Language). Before the introduction of WAP, service providers had extremely limited opportunities to offer interactive data services, but needed interactivity to support now-commonplace activities such as: Email by mobile phone Tracking of stock-market prices Sports results News headlines Music downloads
WHAT IS WAP? What is WAP? The Wireless Application Protocol (WAP) is an open, global specification that empowers mobile users with wireless devices to easily access and interact with information and services instantly.
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WHAT IS WAP FOR? What is the purpose of WAP? To enable easy fast delivery of relevant information and services to mobile users. What type of devices will use WAP? Handheld digital wireless devices such as mobile phones, pagers, two-way radios, smartphones and communicators -- from low-end to high-end. Which wireless networks does WAP work with? WAP is designed to work with most wireless networks such as
CDPD, CDMA, GSM, PDC, PHS, TDMA, FLEX, ReFLEX, iDEN, TETRA, DECT, DataTAC, Mobitex and GRPS. What operating systems are compatible with WAP? WAP is a communications protocol and application environment. It can be built on any operating system including PalmOS, EPOC, Windows CE, FLEXOS, OS/9, JavaOS etc. It provides service interoperability even between different device families.
Introduction Wireless Application Protocol (WAP) is an enabling technology based on the Internet client server architecture model, for transmission and presentation of information from the World Wide Web (WWW) and other applications utilizing the Internet Protocol (IP) to a mobile phone or other wireless terminal.
Formation of WAP Ericsson, Motorola, Nokia, and Phone.com founded the WAP Forum in June 1997 to create license-free standards for the entire industry to use to develop products based on WAP. WAP Protocol Stack From top to bottom, the WAP protocol stack consists of the following: • Application layer • Session layer • Transaction layer • Security layer • Transport layer • Network layer Deployment and Operation of WAP Unlike iMode, WAP requires a gateway to convert between WAP's native language, Wireless Markup Language (WML), and HTML for operation between mobile networks and the WWW. WAP can be deployed using circuit switch or packet switch bearer facilities such as GPRS. The advantages of packet based WAP include faster speed and always-on capabilities. WAP and Roaming When initiating a WAP session while roaming, a connection is made between the visited network and the WAP gateway in the home network. While this provides for basic WAP services to the roamer as if he was in the home network, mobile IN technologies such as CAMEL are required to truly provide a virtual home environment. WAP and Prepay While WAP can be provided on a prepay basis with certain prepay
techniques such as hot-billing, prepay WAP will benefit significantly better from the implementation of CAMEL phase 3 in conjunction with GPRS as a bearer. Evolution of WAP While early implementations of WAP have been relatively unimpressive from a user experience, WAP is poised to leverage packet data networks, push based services, color and animation on the handset, and value-added services such as location based services.
Electronic money (also known as e-currency, e-money, electronic cash, electronic currency, digital money, digital cash or digital currency) refers to money or scrip which is exchanged only electronically. Typically, this involves the use of computer networks, the internet and digital stored value systems. Electronic Funds Transfer (EFT) and direct deposit are all examples of electronic money. Also, it is a collective term for financial cryptography and technologies enabling it. Technically electronic or digital money is a representation, or a system of debits and credits, used to exchange value, within another system, or itself as a stand alone system, onlinen principle this could be done off-line The term electronic money is also occasionally used to refer to the provider itself. A private currency may use gold to provide extra security, such asdigital gold currency. Some private organizations, such as the US military use independent currencies such as Eagle Cash.