Tuesday, June 14, 2016

Discuss the web store requirements that you would have to implement to support a successful retail business on the web

# Most business-to-consumer E-commerce ventures take the form of retail business sites on the world wide web.Whether a huge retail web portal like Amazon.com or a small specially web retailer, the primary ficus of such E-tailers is to develop, operate and manage their websites so they become high priority destinations for consumer who will repeatedly choose to go there to buy products services.Thus, these website must be able to demonstration the key factors for e-commerce success that we have just covered.Web store requirements that you would have to implement to support a successful retail business on the web.

(i) Developing a web store

(ii) Serving your customers

(iii) Managing a web store.

Developing a web store :
                                                              many companies use simple website design software tools and pre-designed templates provide by their website hosting service to construct  their web retail store.That includes building your web store front and product catalog web pages, as well as tools to provide shopping cart features, process orders, handle credit card payments and so forth of course large companies can use their own software developers or hire an outside website development contractor to  build a custom-design e-commerce site.Once you build your website, you must develop it as retail web business by marketing it in a variety of ways that attract visitors to your site and transform them into layal web customers.

Serving your customers :
                                                               Most e-tailers use several website tools to create user profiles, customer files and personal web pages your website should have the look and feel of an attractive, friendly and efficient web store.Providing customer support for your web store is an essential website capability.Providing links to related website from your web store can help customers find additional information and resources.

Managing a web store :
                                                           Web hosting companies must enable their web store clients to be available online twenty-four hour a day and seven days a week all year.This requires them to build or contract for sufficient network, capacity to handle peak web traffic loads and redundant network servers and power source to-respond to system.Many hosting services also offer their clients 24-hours tech support to help them with any technical problem that arise.

What is electronic funds transfer ? How are cheques cleared in this type of transfer?

Electronic Funds Transfer (EFT) :
                                                                                  EFT is a computer based system that facilities the transfer of money or processing financial transactions between two  financial institutions the same day or overnight.Interbank, transfer is one of the earliest forms of electronic payment systems on private networks.

EFT is the transfer of credit between banks where payments flow electronically from the payment bank to the payee's bank. EFT is one of the earliest examples of online payment systems in banking.Although funds transfer account for small portion of the total non-cash payments. 
EFT is used when a high priority is placed on timelines and certainty of payment.

There are two clearing system for EFT transactions :

1. The National EFT clearing systems is operated by IRECC Ltd and is used to clear EFT transaction.  

2.Step-2 is a europe wide clearing system for euro-denominated tansactions.

How are credit card transition carried out in normal everyday shopping? What are the special problems which are encountered when credit card transition is to be carried out in e-commerce?

** To sell things on the web, a merchant must accept credit cards. To accept a credit card payment on the internet you must first open a merchant account with your bank.To complete the cycle the merchant needs a shopping cart program that allows users to collect their purchases.The shopping cart interfaces with a payment processing system such as cyber cash.;Calculates the costs and taxes and delivers a complete bill for customer approval.To improve fraud detection cyber cash offers it online merchant customers a real time fraud detection service to show when a customer is trying to make fraudulent online purchases using credit cards.

1. Most card issuers charge interest from the day a charge is posted to the account if payment is not made in full monthly.Some charge interest from the data of purchase.Several ways be fore they have even paid the store on your behalf.

2. For the merchant credit card transitions result in intermediate credit to the credit to the merchants bank account.

3. A cardholder can dispute charges or purchase to the card issuer. In this case, the merchants acquiring bank can reverse payments or adjust payments as the situation warrants.