Assignment of e-commerce

On
 Discuss various commercial e-
payment schemes? Its benefits &
limitation over traditional payment
system
 Define e-check?state advantages of
it?
 What is e-marketing? Explain the
steps of online marketing process

Submitted by: Hema

Submitted to : Dr monika pathak
Class: BBA 4th sem (A)
Que1: Discuss various commercial e-
payment schemes? Benefits &
limitation over traditional payment
system.
Ans1: ( A)commercial cards:
Starting with the component that gives
businesses the most return on the time
and effort it takes to migrate to e-
payments, the core products that make
up a commercial card program are each
useful for different reasons:
A purchasing card (p-card) goes beyond
a traditional business credit card with
advanced features like virtual card
numbers (VCNs). These are single-use,
unique credit card numbers generated
in real time for a specific purchase
amount, date and supplier. VCNs
enable a company to use a p-card with
greater confidence for larger purchase
amounts.
Travel and entertainment (T&E) cards
are effective for companies that don't
want their employees to purchase
items on their own credit cards or for
employees who don't want to worry
about receiving timely reimbursement.
According to RPMG, 68% of
corporations expect travel card
spending to increase through 2015.
Spending controls, continuous
monitoring and detailed reporting are
key program features that improve
employee compliance and curtail
misuse.
Electronic accounts payable (EAP)
accounts are non-plastic purchasing
accounts used to pay for invoiced goods
and services. EAP accounts can be
integrated with a direct file
transmission platform which centralizes
all payments processing (virtual card
numbers, ACH and wires). EAP accounts
can also enable different departments
to issue distinct credit card numbers
(through the use of ghost card
accounts) that roll up to one corporate
account. This allows finance to easily
assign costs to departments and allows
suppliers to charge the account directly
(e.g., when a plastic p-card can't be
used), while providing the company
with payment float, insight and
controls.
(B) ACH payments
The automated clearinghouse (ACH)
network was originally established in
the 1970s to provide an alternative to
using paper checks. The ACH uses a
batch process, in which the individual
transactions are created/initiated and
then batched as one or many for
release to the bank. These transactions
typically take a few days to process.
Today ACH payments are used for large
volumes of credit and debit batched
transactions, including regular direct
deposit payroll and vendor payments.
(C) .Bill payments
A bill payments solution makes sense
for regular or one-time small to mid-
sized payments managed and
distributed online, including recurring
expenses, such as rent and equipment
leases. Conveniently, web-based bill
pay enables companies to view,
manage and pay bills online and set up
future and recurring payments from
anywhere, any time. Companies also
can define multiple users and establish
various approval limits.

(D)Wire transfers
Wire transfers are used to make
domestic and international high value
and rapid direct bank-to-bank
payments, including ad-hoc and one-
time payments. Businesses typically use
wire transfers to pay or receive funds
same day—benefitting from nearly
immediate and guaranteed availability
of funds via secure, non-reversible
transactions. This can be important for
businesses that need to make an
immediate purchase or cover an urgent
business need.

(E)The backend stuff

Supporting all of these solutions are
several essential backend systems,
including an automated payment
platform that integrates bill payment
and accounting systems, a purchase
 control portal that securely generates
virtual accounts for purchase requests,
and a direct file transmission platform
that centralizes all payments processing
and that integrates with your ERP
systems.

Benefits of e-payment over traditional

payment system:
•Increased Speed and Convenience
E-payment is very convenient compared
to traditional payment methods such as
cash or check. Since you can pay for goods
or services online at any time of day or
night, from any part of the world, your
customers don't have to spend time in a
line, waiting for their turn to transact.
•Increased Sales
As internet banking and shopping become
widespread, the number of people making
cash payments is decreasing. According to
Bankrate, more than two-thirds of
consumers carry less than $50 a day,
meaning electronic alternatives are
increasingly becoming the preferred
payment option.
•Reduced Transaction Costs
While there are no additional charges for
making a cash payment, trips to the store
typically cost money, and checks also need
postage. On the other hand, there are
usually no fees – or very small ones – to
swipe your card or pay online.In the long
run, e-payment could save both individuals
and businesses hundreds to thousands of
dollars in transaction fees.

Limitations of E-payment over traditional

payment system
•Security Concerns
Although stringent measures such as
symmetric encryption are in place to make
e-payment safe and secure, it is still
vulnerable to hacking. Fraudsters, for
instance, use phishing attacks to trick
unsuspecting users into providing the log-
in details of their e-wallets, which they
capture and use to access the victims'
personal and financial information.
•Disputed Transactions
If someone uses your company's electronic
money without your authorization, you
would identify the unfamiliar charge and
file a claim with your bank, online payment
processor or credit card company. Without
sufficient information about the person
who performed the transaction, though, it
can be difficult to win the claim and
receive a refund.
•Increased Business Costs
E-payment systems come with an
increased need to protect sensitive
financial information stored in a business's
computer systems from unauthorized
access. Enterprises with in-house e-
payment systems must incur additional
costs in maintaining payment-security
technologies.
Que2: Define e-check.state advantage of e-
check.
Ans2:An electronic check, or e-check, is a
form of payment made via the Internet, or
another data network, designed to
perform the same function as a
conventional paper check. Since the check
is in an electronic format, it can be
processed in fewer steps.
Additionally, it has more security features
than standard paper checks including
authentication, public key cryptography,
digital signatures, and encryption, among
others.An electronic check has more
security features than standard paper
checks.
How an Electronic Check Works
An electronic check is part of the larger
electronic banking field and part of a
subset of transactions referred to as
electronic fund transfers (EFTs). This
includes not only electronic checks but also
other computerized banking functions such
as ATM withdrawals and deposits, debit
card transactions and remote check
depositing features.
Advantages of e-check
Save Money:
E-checks are a more efficient way for your
business to save money. Companies that
process e-checks electronically instead of
processing paper checks significantly
reduce their costs when it comes to
converting these transactions.
Instant: Paper check processing involves
more work, and takes more time. When
using paper checks, your business has to
process their data in bundles, whether
that’s daily, weekly or monthly, whereas
electronic checks allow for instant
processing.
Global Acceptance:
E-checks open new avenues for companies,
letting them engage in different markets
without limiting their business
opportunities. Because of easy online
accessibility, any global bank or type of
currency can be accepted with e-checks.

Security:
Electronic checks use the same system as
direct payments and deposits, which relay
the same security and comfort factors that
all customers want, maintaining the
satisfaction component.
Less Error:
E-checks reduce the amount of errors
because customers are authorized to input
their specifics into the system, thus
eliminating inaccuracy.

Our Electronic Checking Benefits:

Payhub Payments’ electronic checking
process is fast, reliable, efficient and
secure for all your transactions. We save
you time and effort by using our system
because we convert paper checks into
electronic at the point-of-sale and
automatically deposit the funds into your
banking account.

Que3: what is e-marketing? Explain the

steps of online marketing process?
Ans3: E-Marketing (Electronic Marketing)
are also known as Internet Marketing,
Web Marketing, Digital Marketing, or
Online Marketing. E-marketing is the
process of marketing a product or service
using the Internet. Emarkerting not only
includes marketing on the Internet, but
also includes marketing done via e-mail
and wireless media. It uses a range of
technologies to help connect businesses to
their customers.

Like many other media channels, e-

marketing is also a part of integrated
marketing communications (IMC), which
helps a brand grow across different
channels. E-marketing has become a
pivotal tactic in the marketing strategy
adopted by companies using several digital
media channels.
Advantages of E-marketing
Certain advantages of emarketing are
discussed as below:
1. Much better return on investment from
than that of traditional marketing as it
helps increasing sales revenue.
2. E-marketing means reduced marketing
campaign cost as the marketing is done
through the internet
3. Fast result of the campaign as it helps to
target the right customers.
4. Easy monitoring through the web
tracking capabilities help make emarketing
highly efficient
5. Using e-marketing, viral content can be
made, which helps in viral marketing.
Explain the steps of
online marketing
process?
The steps of online marketing are as
follows:

Step 1: Developing an effective Digital

Marketing Strategy
MARKETING IS AN INVESTMENT IN THE
GROWTH OF YOUR BUSINESS, NOT AN
EXPENSE.
WHAT IS THE PURPOSE OF THIS
MARKETING PLAN?
*What are your goals? What are your
objectives?
*What marketing challenges have you
faced?
*Who are your ideal customers and how
can you attract them?
*Where do potential buyers look for
companies like yours?
*How much should you invest in a
marketing programme?
*How is this marketing programme going
to provide a positive ROI?
Step 2: The Creation and Maintenance of
an Effective Website Platform
Easy to Navigate
Professional Appearance
Search Engine Friendly
Responsive Design
Easy-to-Update
AN EFFECTIVE WEBSITE IS THE HUB OF ALL
YOUR ONLINE MARKETING AND LEAD
GENERATION!
Step 3: Generate More Traffic
By increasing the traffic to your website,
you increase the number of opportunities
for visitors to turn into leads.

These tasks are proven ways to bring new

and qualified visitors to your site
Step 4: Convert Traffic To Leads
CREATE ATTRACTIVE OFFERS AND CALLS
TO ACTION THAT APPEAL TO POTENTIAL
BUYERS AT ALL LEVELS.
THE PROVEN PROCESS:
Build landing pages that describe the offer
with a form to collect leads information.
Upon completing the form, the user will
gain access to the offer, receive an auto
responder email, and be entered as a lead
in your CRM system.
Place Calls to Action (CTAs) throughout the
site to encourage more lead generation.
Step 5: Converting Leads into Sales
MARKETING AUTOMATION IS USED TO
PERFORM THESE LABORIOUS TASKS COST-
EFFECTIVELY AND HANDS FREE!
Step 6: Measure Everything
“MOST IMPORTANT METRICS MEASURED”
Traffic Statistics
SEO Success
PPC Costs and Rates
Blogging Effectiveness
Social Media Audience Size and Growth
Email Subscribers