Payment Systems for E-commerce
- Write this report in the Payment Systems section of your E-commerce plan. It should be about one double spaced page.
- Compare and contrast three companies that specialize in providing methods to accept online payments (see below).
- Create a table that summarizes your report (see below).
Compare PayPal with two other methods of your own choosing. If you are using Shopify for your final project compare PayPal, Shopify Payments and a third method of your choosing. Included below are links to Mals-e, Square and 12 other alternate methods, or you can choose another method not already listed:
- PayPal
When you visit PayPal, click on Merchant tools and then "Learn More" under "Need to accept Credit Cards?"
If you already have an online credit card processor other than PayPal, or one listed above, please use that company.
Feel free to conduct your own web search to find a company.
Bitcoin
In addition to these more traditional methods of payment processing. There is a digital-currency revolution brewing that can no longer be ignored, Bitcoin. As mentioned in the article below, "If the U.S government recognizes Bitcoin as a currency, then ecommerce business owners would be foolish not to accept bitcoin payments.”
What is Bitcoin?
Should All Ecommerce Sites Accept Bitcoins?
After reading the above articles, and any others of your choosing about bitcoin, complete the report outlined below and paste it in the Payment Systems section of your E-commerce Plan and into a post in this week's discussion in Canvas.
Answer these questions in your written report about Payment Systems (between 3-5 paragraphs total):
- What kinds of online payments do they process? (Visa, MasterCard, electronic cash, etc.)
- What other services do they offer?
- Are there any set up fees?
- What other fees are there?
- Do you need a merchant account?
- Can they help you get a merchant account if you don’t have one?
- Which of these services seems to be the most secure? Why?
- Including fixed costs and the percentage of sales they charge, which service seems to be the least expensive? Why?
- Including fixed costs and the percentage of sales they charge, which of them seems to be the most expensive? Why?
- Which payment system would you choose? Why?
- Would you consider using any of the 12 alternatives mentioned in the article above? Which ones and why?
- After reading the Bitcoin articles answer these questions about bitcoin:
- What excites you the most?
- What worries you the most?
- Please back-up your opinions by quoting from the article
FYI: Shopify Merchants Can Now Accept Bitcoin
After you write the report, follow the instructions below:
- Create a table like the one below in your E-commerce Plan
- Fill in the blanks as best you can with the required information
- Arrange the companies in the order of your preference, your first choice first, etc.
- Attach the E-commerce Plan to your report in the Discussion Board
Electronic Payment Systems |
Company Name |
Types of Payments Accepted |
Set up Fees |
Other Fees |
Provides a Shopping Cart? |
Other Services |
Pay Pal |
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Choice 1 |
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| Choice 2 |
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Upload your E-commerce plan to the Payment Systems assignment on Canvas
E-commerce site discussion:
- Refer to the final project requirements for the Products (Services) page
- Start on the Products (Services) page page for your E-Commerce site
- This does not need to be the completed version, just a start
- In this week’s discussion paste the link to your Products (Services) page or attach a screen shot
- Tell us about your plans for the Products (Services) page and what you would like feedback
- Post your discussion on Canvas
- By the end of next week provide feedback for at least two other students’ Products (Services) pages