Characteristics of E-Commerce Technologies

Characteristics of E-Commerce Technologies
The most obvious one is the internet. Beyond that system of interconnected networks, many other sophisticated software and hardware components are needed to provide the required support structure: database software, network switches and hubs, encryption hardware and software, multimedia support, and the world wide web.

The following are the characteristics of e-commerce technologies

#1. Ease of automated processing
 A payer now easily automated the generation and processing of multiple payments with minimal effort and cost. Previously, the dependency upon banks to handle most payments and lack of a cheap, ubiquitous communications technology made automation of payment processes expensive and difficult to establish.

#2. Straightness of result
Payments straight occurs because of automation and the ability of the intermediate systems and providers to process payments in real-time. In manual. Paper-based system there exists a time exists a time delay due to the requirement of human intervention in the process.

#3. Spacing and Accessibility
The availability of cheap computing and communications technology, and appropriate software enables small enterprises and individuals to access or provide a range of payment services that were previously only available to large organisations vis dedicated networks or the transactional processing units of banks.

#4. New Business models
New business models are being developed to exploit the new payment technologies, in particular to address or take advantage of the disintermediation of customers from traditional payment providers such as banks.

#5. Loss of parallel information
The new technology atomiser with, or alters, collateral information accompanying transactions. This information has traditionally been part of the transaction, and has been relied upon by the transacting parties to validate individual payments. Collateral information can be defined as information:
  • Which is not essential to the meaning and intent of a transaction
  • Which is typically incidental to the nature of the communications channel over which the transaction is conducted.
  • It provides useful abstract information for one or more of the parties to the transaction.

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