himanshu goel

Introduction With the intention of attracting advertising dollars, magazines and newspapers have also set up sites on the Web. Many online periodicals include traditional advertisements as well as icons, which display an advertiser’s logo and, when clicked with a mouse, send a user across the Web to the advertiser’s Web site. Among periodicals that have gone from print to online advertising with some degree of advertising success are: Knight Ridder’s. San Jose Mercury News newspaper, which reportedly charges $100 per day for an advertisement, and magazines such as Hot Wired, Playboy, and People, which reportedly charge $30,000-$45,000 per quarter for an advertiser to place an icon in the periodical. Promotions are also common. In many cases, advertisers ask site visitors to provide their names and addresses in exchange for a product discount. if you like my post then pls click on advertisment and add as you in my follower list . Its beneficial for you and me both.

ELECTRONIC COMMERCE AND ONLINE PUBLISHING Electronic Commerce and Online Publishing The Web may have blossomed because of peer-to-peer publishing, but judg-ing from recent product offerings, there is an enormous groundswell of in-terest among both commercial and corporate publishers in the Web. For instance, it was reported that, in less than three months, the Wall Street Journal Interactive Edition attracted 500,000 registered readers on the Web, and that number is growing by some 3,000 readers per day. Also, the elec-tronic edition has attracted more than thirty advertisers paying to reach this audince. Initially, growth in the online publishing marketplace was driven by the potential of new interactive technologies and applications. The promise of new interactive publishing captured the imagination of both content providers and the public. However, from 1993 to 1995 much of online publishing was inhibited by a lack of business purpose. At that time, the con-tent creation s...

ELECTRONIC COMMERCE AND RETAILING Electronic Commerce and Retailing Retailing is expected to change with the rapid develop-ment of new online sales and distribution channels that literally can be used from anywhere, anytime-from work, school, a hotel, car, or airplane. These developments should impact retailing as much as the advent of strip malls, catalog retailing, and TV-based home shopping. Almost every retailer is reevaluating every aspect of its operation from customer service to advertising, merchandising to store design, and logis-tics to order fulfillment. Furthermore, reacting to the pressure of retailers, suppliers are assessing technology- based solutions to drive down costs (la-bor, delivery, and production) and become more efficient producers of goods. if you like my post then pls click on advertisment and add as you in my follower list . Its beneficial for you and me both.

MANAGEMENT ISSUES IN ONLINE BANKING The challenge facing the banking industry is whether management has the creativity and vision to harness the technology and provide customers with new financial products necessary to satisfy their continually changing fi-nancial needs. Banks must deliver high quality products at the customers’ convenience with high-tech, high-touch personal and affordable service. In order to achieve this, management has to balance the five key values that increasingly drive customers’ banking decisions: simplicity, customized ser-vice, convenience, quality, and price. if you like my post then pls click on advertisment and add as you in my follower list . Its beneficial for you and me both.

BANKING VIA ONLINE SERVICES Banking via Online Services Although personal finance software allows people to manage their money, it only represents half of the information management equation. No matter which software package is used to manage accounts, information gets man-aged twice-once by the consumer and once by the bank. If the consumer uses personal finance software, then both the consumer and the bank are re-sponsible for maintaining systems; unfortunately, these systems do not communicate with one another, thus giving new meaning to double-entry bookkeeping. For example, a consumer enters data once into his system and transfers this information to paper in the form of a check, only to have the bank then transfer it from paper back into electronic form. if you like my post then pls click on advertisment and add as you in my follower list . Its beneficial for you and me both.

HOME BANKING HISTORY Home Banking History The recent hyperbole around home banking is not simply the latest Wall Street fad. Financial institutions were interested in turning the home bank-ing concept into a reality as early as 1970. Many banks invested millions of dollars in research and development, certain that home banking was going to take off. In October 1981, The American Banker had a set of articles promoting the virtues of home banking. In answer to the question: “Will home banking be a major force in the market by 1985?,” an executive vice presi-dent of First Interstate Bank replied, “Absolutely! And I want to be there.” if you like my post then pls click on advertisment and add as you in my follower list . Its beneficial for you and me both.

ELECTRONIC COMMERCE AND BANKING Electronic Commerce and Banking “Banking is vital to a healthy economy. Banks are not” [AS95]. This quote succinctly captures the structural and operational tumult occurring in the fi-nancial services industry. Banking as a business can be subdivided into five broad types: retail, domestic wholesale, international wholesale, invest-ment, and trust. Of all these types, retail and investment banking are most affected by online technological innovations and are the ones that stand to profit most from electronic commerce. The role of electronic commerce in banking is multifaceted-impacted by changes in technology, rapid deregulation of many parts of finance, the emergence of new banking institutions, and basic economic restructuring. Given these environmental changes, banks are reassessing their cost and profit structures. Many banks feel that in order to be profitable they need to reduce operating expenses and maintain strict cost control. This philo...

COMMERCIAL ASPECTS OF E-COMMERCE Introduction Electronic commerce over the Internet is a new way of conducting business. Through only three years old, it has the potential to radically alter economic activities and the social environment. Already, it affects such large sectors as communications, finance and retail trade ( altogether , about 30 per cent of GDP). It holds promise in areas such as education, health and government ( about 20 per cent of GDP). The largest effects may be associated not with many of the impacts that command the most attention ( e.g. customized products, the elimination of middlemen ) but with less visible, but potentially more pervasive, effects on routine business activities ( e.g. ordering office supplies, paying bills, and estimating demand), that is, on the way businesses interact. A combination of regulatory reform and technological innovation enabled e-commerce to evolve as it has. Although the precursor on a internet appeared in the late 1960s, ...

ELECTRONIC FUNDS TRANSFER Electronic Funds Transfer Electronic Funds Transfer is used to settle credit card transactions by transferring funds between the seller and the bank, which has issued the credit card to the customer. A Clearing House would settle the accounts of the sending bank and the receiving bank. Online Catalogs Online catalogs provide easy access to product information. Consumers are benefited because they are able to obtain detailed, up to the minute information about a wide range of products over the Internet, without having to endure the inconvenience of visiting a showroom. For assisted selling, a valuable tool is a marketing encyclopedia, an intelligent electronic catalog that connects sales representatives and customers to a company’s most current product and service information. It provides a single point of entry for harnessing and distributing all product information. Product managers can update information in the database and immediately broadcast t...

SMART CARDS Smart Cards Smart cards, also called stored value cards, use magnetic stripe technology or integrated circuit chips to store customer-specific information, including electronic money. The cards can be used to purchase goods or services, store information, control access to accounts, and perform many other functions. Smart cards offer clear benefits to both merchants and consumers. They reduce cash-handling expenses and losses caused by fraud, expedite cus-tomer transactions at the checkout counter, and enhance consumer conve-nience and safety. In addition, many state and federal governments are considering stored value cards as an efficient option for dispersing govern-ment entitlements. Other private sector institutions market stored value products to transit riders, university students, telephone customers, vend-ing customers, and retail customers. One successful use of stored value cards is by New York’s Metropolitan Transportation Authority (MTA). The MTA is th...

OTHER EMERGING FINANCIAL INSTRUMENTS Several other electronic payment systems are currently being prototyped and tested. These include debit cards, electronic benefit transfer cards, and smart cards. Debit Cards at the Point of Sale (POS) The fastest growing number of electronic transactions today are debit card point-of-sale transactions. Such a transaction occurs when a customer uses a debit card to make a purchase from a merchant (supermarket, gas station, convenience store, or some other store that accepts such cards instead of us-ing cash, check, or credit card). The transaction works much like a credit card transaction. For example, a customer gives an ATM card to the merchant for the purchase. The mer-chant swipes the card through a transaction terminal, which reads the infor-mation; the customer enters his personal identification number (PIN); and the terminal routes the transaction through the ATM network back to the customer’s bank for authorization against the custom...

TYPES OF CREDIT CARD PAYMENTS Types of Credit Card Payments Credit card-based payments can be divided into three categories: Payments Using Plain Credit Card Details The easiest method of credit card payment is the exchange of unencrypted credit cards over a public network such as telephone lines or the Internet. The low level of security inherent in the design of the Internet makes this method problematic (any hacker can read a credit card number, and there are programs that scan the Internet traffic for credit card numbers and send the numbers to their programmers). Authentication is also a significant problem, and the vendor is usually responsible for ensuring that the person using the credit card is its owner. Payments Using Encrypted Credit Card Details Even if credit card details are encrypted before they are sent over the Internet, there are still certain factors to consider before sending them out. One such factor is the cost of a credit card transaction itself, ...

ELECTRONIC CHECKS Electronic checks are designed to accommodate the many individuals and en-tities that might prefer to pay on credit or through some mechanism other than cash. Electronic checks are modeled on paper checks, except that they are initiated electronically, use digital signatures for signing and endorsing, and require the use of digital certificates to authenticate the payer, the payer’s bank, and bank account. The security/authentication aspects of digital checks are supported via digital signatures using public-key cryptography. Ideally, electronic checks will facilitate new online services by: allowing new payment flows (the payee can verify funds availability at the payer’s bank); enhancing security at each step of the transaction through automatic validation of the electronic signature by each party (payee and banks); and facilitating payment integration with widely used EDI-based electronic or-dering and billing processes. Electronic checks are delivered eithe...

ELECTRONIC PAYMENT SYSTEM Electronic Payment Systems Electronic payment is an integral part of electronic commerce. Broadly de-fined, electronic payment is a financial exchange that takes place online be-tween buyers and sellers. The content of this exchange is usually some form of digital financial instrument (such as encrypted credit card numbers, elec-tronic checks, or digital cash) that is backed by a bank or an intermediary, or by legal tender. Three factors are stimulating interest among financial in-stitutions in electronic payments: decreasing technology costs, reduced op-erational and processing costs, and increasing online commerce. The desire to reduce costs is one major reason for the increase in elec-tronic payments. Cash and checks are very expensive to process, and banks are seeking less costly alternatives. It is estimated that approximately 56 percent of consumer transactions in the United States are cash and 29 per-cent are check. Credits, debits, and other el...