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UNIT – V Current Trends in Ecommerce IV SEM BCA & BSc UNIT – V Current trends in Ecommerce PAYTM Paytm is an Indian e-commerce payment system and financial technology company, based out of Noida, India. Paytm is available in 11 Indian languages and offers online use-cases like mobile recharges, utility bill payments, travel, movies, and events bookings as well as in-store payments at grocery stores, fruits and vegetable shops, restaurants, parking, tolls, pharmacies and educational institutions with the Paytm QR code. Paytm was founded in August 2010 with an initial investment of $2 million by its founder Vijay Shekhar Sharma in Noida, a region adjacent to India's capital New Delhi. Paytm is a digital payments platform that allows you to transfer cash into the integrated wallet via online banking, debit cards, and credit cards, or even by depositing cash via select banks and partners. Using the money in the Paytm wallet, you can pay for a number of goods without using cash. Among the transactions you can make on Paytm are recharges for mobile phones, metro cards, DTH cable, data cards, etc, as well as postpaid payments for mobile phones, landline/ broadband, electricity, water and gas bills, etc. You can also book tickets for buses, trains, flights, movies, hotel rooms, etc. and pay for Uber cab rides using the platform. Additionally, you can buy goods on the company’s e-commerce platform using the wallet, and even make offline payments at over 8 lakh merchants, Paytm claims. How To Use Paytm App? 1. First visit www.paytm.com 2. If you have Smartphone then download Paytm app for better experience 3. Install & Open Paytm app 4. Register or login 5. You can register with your any email address 6. After successfully register make login to Paytm 7. To use Paytm features you have to add some Paytm wallet Money 8. Use any given payment method to add money in wallet * Debit card * Credit card * Net banking * ATM * IMPS How does Paytm work? Paytm works in two different ways. One is Paytm wallet and another is Paytm payments bank. Paytm is a digital payment system which allows you to transfer money through credit card, debit card, online banking and banking partners. By keeping money in the Paytm wallet you can pay all bills without spending liquid cash anywhere. PAYPAL PayPal is the world’s leading payment processing company (American Company), which was founded in 1998. PayPal went about dedicating itself to processing payments for merchants. PayPal allows for a rapid method of payment when shopping online, as well as for the transfer of funds between one person and another, either for personal or business use. IV SEM BCA & BSc The setting up of a PayPal account is free and available in most countries in the world. Payment is accepted in many different currencies, and you can opt to set up an account for personal or for business use. PayPal also offers options to make and send invoices for business use, and although some fees are involved in transactions it is recognized as a safe and secure method for the transfer of funds. Business accounts are also able to accept credit cards through PayPal, allowing them to bypass the need for a merchant account, which can sometimes be difficult for a new company to secure. ONLINE AUCTION An online auction (also electronic auction or E-Auction or e-auction or eAuction) is an auction which is held over the internet. online auctions break down and remove the physical limitations of traditional auctions such as geography, presence, time, space, and a small target audience. In 2002, online auctions were projected to account for 30% of all online e-commerce due to the rapid expansion of the popularity of the form of electronic commerce. The largest online auction site is eBay, which was the first to support person-to-person transactions. Other popular examples of online auction sites include WebStore, OnlineAuction and Overstock. How it works? • To begin, you register at a site so it can keep track of items you bid on and items you sell. • When you enter an auction to place a bid, the site's computers determine the amount you need to bid in order to become the highest bidder. • You can accept this amount or enter your own bid. • For every additional bid that is placed, the computers orchestrating the auction again compare your bid against the current bids and determine if your bid is the winner. • Online auctions rely on relational database applications to store and track users, items, and bids. CRYPTO CURRENCY ((Cryptocurrency is an internet-based medium of exchange which uses cryptographical functions to conduct financial transactions.)) A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies use decentralized control as opposed to centralized digital currency and central bankingsystems. The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database. Bitcoin, first released as open-source software in 2009, is generally considered the first decentralized cryptocurrency. IV SEM BCA & BSc Blockchain The validity of each cryptocurrency's coins is provided by a blockchain. A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography.Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority. Blockchains are secure by design and are an example of a distributed computing system with high fault tolerance. Virtual Communities A virtual community is a social network of individuals who interact through specific social media, potentially crossing geographical and political boundaries in order to pursue mutual interests or goals. Some of the most pervasive virtual communities are online communities operating under social networking services Virtual communities all encourage interaction, sometimes focusing around a particular interest or just to communicate. Some virtual communities do both. Community members are allowed to interact over a shared passion through various means: message boards, chat rooms, social networking World Wide Web sites, or virtual worlds. Virtual communities resemble real life communities in the sense that they both provide support, information, friendship and acceptance between strangers. Purpose Virtual communities are used for a variety of social and professional groups; interaction between community members vary from personal to purely formal. For example, an email distribution list operates on an informational level. Internet message board An online message board is a forum where people can discuss thoughts or ideas on various topics or simply express an idea. Shortly after the rise of interest in message boards and forums, people started to want a way of communicating with their "communities" in real time The development of online chat rooms allowed people to talk to whoever was online at the same time they were. This way, messages were sent and online users could immediately respond. Social networking services Social networking services are the most prominent type of virtual community. They are either a website or software platform that focuses on creating and maintaining relationships. Facebook, Twitter, and Myspace are all virtual communities With these sites, one often creates a profile or account, and adds friends or follow friends. This allows people to connect and look for support using the social networking service as a gathering place. E Marketing E-marketing is a process of planning and executing the conception, distribution, promotion, and pricing of products and services in a computerized, networked environment, such as the Internet and the World Wide Web, to facilitate exchanges and satisfy customer demands. IV SEM BCA & BSc It has two distinct advantages over traditional marketing. E-marketing provides customers with more convenience and more competitive prices, and it enables businesses to reduce operational costs. As businesses offer e-marketing and online shopping, customers can get market information from their computers or cell phones and buy goods or find services without leaving home twenty-four hours a day and seven days a week (24/7). They can read ads on the Web or from e-mail, get e-coupons, view pictures of goods, compare prices, and make purchases with a few clicks of their mouse, saving the time and money it would take to shop in person at the store. To make e-marketing effective and efficient, managers of e-businesses need to know online customer behavior, e-marketing techniques, costs and benefits of emarketing over traditional marketing, and pitfalls and legal issues of e-marketing. Cost & Benefits E-marketing can offer more competitive prices than traditional marketing Second, because the Internet is available 24/7, e-marketing enables shoppers to search for product/service information and buy goods at their convenience. Third, research indicates that the cost of Internet-based promotion is one-fourth of traditional promotion, because it does not incur the costs of paper, printing, handling, and mailing. Fourth, e-marketing enables buyers to custom-build products such as shoes, clothes, computers, and automobiles on the Web, options often not available in stores.
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