Electronic commerce poses additional security problems. The system is inherently open, and traditional approaches of restricting access by the use of physical barriers are less viable, though organizations still need to restrict physical access to their servers. In the case of the Web, you have to configure your browser to invoke the Adobe Acrobat reader whenever a file with the extension pdf is retrieved. Redefining the Consumer Shopping Experience: E-commerce industry has … Adding a PIN number to a smart card can raise its security level. The technology is the main fuel behind the evolution and existence of B2B and B2C E-commerce industry. Historically, such data have been stored in restricted areas (e.g., a vault) or encoded. Only the bank and card issuer can decode this number. A signed message has additional encrypted text containing the sender’s signature (see Exhibit 18). For instance, banks (which bear the brunt of the cost of credit card fraud) prefer credit card numbers to be hidden from prying electronic eyes. The Automatic Teller Machine (ATM), credit cards, telephone backing etc are all technologies used within E-Commerce. Forrester’s mobile payments forecast 2016-2021, eMarketer, worldwide retail sales are expected to reach $4 trillion by 2020, keep track of emerging technology changes. Visa and MasterCard founded SET as a joint venture on February 1, 1996. As a result, many businesses have not been able to participate in the benefits associated with EDI. And as mobile penetration increases, along with better quality services, this trend is assured to grow. First, the intent of the Internet is to give people remote access to information. Second, because electronic commerce is based on computers and networks, these same technologies can be used to attack security systems. E-Business is the term used to describe the information systems and applications … The Internet is a packet switching network. When the card is used to pay for an item, it must be inserted in a reader. A Domain Name Server (DNS) converts aussie.mgmt.uga.edu to the IP address 128.192.73.60. Harvard Business School, 9-198-006. B) About 200 million U.S. consumers use mobile apps. Electronic commerce: building blocks for new business opportunity. For example, you do not want to have to type your full credit card details each time you spend one-tenth of a cent. Shopify. The rapid growth of electronic commerce is clear evidence of the reliability and robustness of the underlying technology. The microprocessor can be programmed. Without technology, it would be naïve to even expect that e-commerce could achieve such an impressive market size. Electronic data interchange (EDI), e-mail, and hypertext text transfer protocol (HTTP) are examples of messaging software. Technology also enables enhanced search, customization, and personalization, which are fast becoming “must-have” capabilities for e-commerce success. E-government (short for electronic government) is the use of technological communications devices, such as computers and the Internet to provide public services to citizens and other persons in a country or region. Here you can download the free lecture Notes of E Commerce Pdf Notes – EC Notes materials with multiple file links to download. As a result, you can significantly alter the look of the page, which could have been carefully crafted by a graphic artist to convey a particular look and feel. A sender’s private key is used to create a signed message . Not only does it help connect sellers and customer on mobile and web platforms, but also enables the effective management of customer orders, deliveries, returns and payments of purchased goods. Netscribes is a global data and insights firm that meets the sales, marketing, product development and innovation needs of some of the world’s largest organisations and helps them adapt to market and technology changes. SSL uses public-key encryption to encode the transmission of secure messages (e.g., those containing a credit card number) between a browser and a Web server. After encryption, the message is totally secure (see Exhibit 15). Given such radical innovations in technology, the boundaries between brick-and-mortar retailers and e-retailers are expected to blur even more. E-government offers new opportunities for more direct and convenient citizen access to government, and for government provision of services directly to citizens. Encryption is the process of transforming messages or data to protect their meaning. A banking system has one or more common clearinghouses that facilitate the flow of funds between accounts in different banks. E-commerce is a popular term for electronic commerce or even internet commerce. The future of e-commerce will use technology to do the same thing … smarter technology that provides a better experience. Indeed, there can be a public database containing each person’s or organization’s public key. Messages can be sent from one computer to another only when every server on the Internet is uniquely addressable. Oracle Commerce holds 0.36% of the ecommerce market share. An electronic commerce application. Credit card numbers are not the only sensitive information transmitted on the Internet. EDI, which has been used for some 20 years, describes the electronic exchange of standard business documents between firms. For example, many search functions on … There are three key elements of the Web: Notice that the electronic publishing layer is still concerned with some of the issues solved by TCP/IP for the Internet part of the NII layer. The differences between HTML and PDF are summarized in Exhibit 7. American Express has subsequently joined the venture. This is further expected to give a boost to cashless payment modes and, in turn, lead to inflating e-commerce sales. And with the rolling out of 4G connectivity in mobile networks, users the world over are beginning to experience a faster and more reliable mobile internet experience – which in turn is giving rise to mobile commerce. Each layer is founded on the layer below it and cannot function without it. Thus, the business services layer supports secure transmission of credit card numbers by providing encryption and electronic funds transfer. Visual Search. Routing is the process of determining the path a message will take from the sending to the receiving computer. Computers can communicate with each other when they speak a common language or use a common communication protocol. Electronic currency must be spendable in small amounts (e.g., less than one-tenth of a cent) so that high-volume, small-value Internet transactions are feasible (e.g., paying 0.1 cent to read an article in an encyclopedia). Promotion: Integrated Web communications, 5. The problem with special-purpose cards, such as phone and photocopy cards, is that people end up with a purse or wallet full of cards. Adobe, for example, uses its Web site to distribute software changes to customers and provide financial and other reports to investors. Richard T. Watson (University of Georgia, USA), Electronic Commerce: The Strategic Perspective, Next: Web strategy: Attracting and retaining visitors, Creative Commons Attribution 4.0 International License, HTML files can be created by a wide variety of software. Exhibit 13.: Encryption with a public-key system. The name is self-explanatory, it is the meeting of buyers and sellers on the internet. The intruder cannot read the data without knowing the method of encryption and the key. Two forms of protecting electronic transactions are SSL and SET. Think of a digital certificate as an electronic credit card. Either method is not completely secure and is time-consuming whenever the key is changed. The development of secure servers and clients has made transmitting credit card numbers extremely safe. They are issued by banks or clearinghouses and kept in registries so that authenticated users can look up other users’ public keys. The main differences between an online shop and an ordinary website are the shopping cart and payment gateway features. Find out what Amazon does, what makes it different from other e-commerce Web sites and how its technology infrastructure supports its multi-pronged approach to online sales. PGP is a public domain implementation of public-key encryption. Characteristics of electronic money. A cookie is the mechanism for remembering details of a single visit or store facts between visits. Digital supply chain. There is still a need to consider addressability (i.e., a URL) and have a common language across the network (i.e., HTTP and HTML). Here are some Oracle Commerce facts: Most companies that use Oracle Commerce are in the retail, computer software, and information technology niche. Researchers predict e-commerce will be 17 percent of U.S. retail sales by 2022, according to Digital Commerce 360. In today’s hyper-commoditized market, where differentiating a business from the likes of giants like Amazon, Alibaba, and Flipkart, is becoming increasing difficult; e-commerce vendors are focusing on providing a superior customer experience. The simplest method is to restrict traffic to packets with designated IP addresses (e.g., only permit those messages that come from the University of Georgia–i.e., the address ends with uga.edu). In fact, technology plays an important role throughout the e-commerce value chain, in areas such as recruitment, marketing, and advertising, among many others. All the Html, JavaScript, PHP files, databases, media files that make up the entire website are stored on this server. The system is designed to provide secure payment between computers using e-mail or the Internet. Secure transmission of information is necessary for electronic commerce to thrive. AI-powered technologies have great potential in optimizing search through … Convenience is an essential value proposition associated with e-commerce. It can’t be sent with the message because if the message is intercepted, the key can be used to decipher it. Alternatively, a firm that wants to share sensitive data with selected customers may install a more complex firewall to offer a high degree of protection. 0 E-Business. 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