E-commerce

In this paper, I choose to explore the online payment methods used by E-bay. EBay is an online company that caters for both companies, big and small, and individuals wishing to do e-business. It caters, and has a worldwide reach. The diversity of ecommerce in EBay requires a variety of payment method to cater for distance, security, facilitate small payment and where necessarily also facilitate anonymity.

The payment methods of e-bay include PayPal, Credit cards and debit cards, Moneybookers, Paymate, ProPay, and Escrow.

PayPal
PayPal is an electronic money account that incorporates credit card transfer and direct money transfer from a bank account. PayPal is an ecommerce site offering money transfer services. PayPal services are sponsored by EBay to facilitate quick transfer of funds to the sellers from the buyers account. The money transfer is done without exposing the account details of the sender to the buyer.

On purchase, the money is transferred directly from the buyers account to the sellers account. The transaction can be monitored by the buyer through logging into the PayPal account or the EBay account.

In the event of any loss, PayPal refunds the cost of the purchased item and the cost of the initial postage value.

This mode of payment offers Privacy, integrity, and non-repudiation and the authorizing entity, in this case PayPal issues the users against any losses.

Pay pale facilitated payment of large values as well as small values. The cash value accumulated in the PayPal account is transferable to banks and internationally.

The system is easy to use and allows users to login and transact business from different locations and computers.

One has to register with both EBay and PayPal to be able to utilize PayPal services

Online Credit Card or Debit Card
EBay uses online credit or debit card. During the transaction procedures the one purchasing directly links to the bank sponsoring the credit or the debit card from the EBay system.

The payment is immediate and personal data such as credit card number are secured by the EBay system if the one purchase utilizes the EBay shopping cart.

Any losses incurred during transaction are insured by the institution sponsoring the Credit or the Debit Card.  Payment can be traceable through the use of the EBay system

This mode of payment offers Privacy, Integrity, and Non-repudiation.   The user is insured against any losses by the Debit or Credit card sponsor.

Just like when one uses PayPal, the system facilitates users to login form multiple locations.
This payment is expensive due to the charges that are levied by the sponsoring institutions.

Moneybookers
Moneybooker is United Kingdom electronic money facilitator. It is an issuer of electronic money.
To use Moneybooker on EBay, one does not need to have an account with Moneybookers. The seller informs the buyer of the email account to which payment information should be sent. Then the seller can instruct moneybookers to transfer the payment to the email and account of the buyer.
On purchase of an item the payment is immediate. The Purchaser can monitor the transaction through the use of the EBay system.
Moneybooker does not insure users against loss. Any losses incurred by the user are insured according to their respective Bank or credit card sponsor’s terms.
Moneybookers is ideally suited for small businesses, online merchants and individuals#

Paymate
Paymate links credit cards and bank accounts to electronic money transfer. Users in EBay do not require opening an account with Paymate to be able to utilize their services.
For a transaction to be completed, the EBay user selects the payment method and the system sends a payment notification to the seller. The payment is immediate.

Paymate does not offer any insurance against any losses incurred by buyers while utilizing their system. Any insurance that is applicable depends on the terms of the sponsoring Bank or the Credit card sponsor.
Paymate offers payment processes for 57 countries around the world.  Users can transact indifferent kinds of currencies.
The transactions carried out using paymate are traceable through the EBay system and therefore offer non-repudiation.

ProPay
Propay shopping cart is interfaced with EBay facilitating secure payment link to credit card, Debit card or direct to a bank account. The EBay buyer does not require registering with ProPay to use their services.
Payment can be traced using the Credit card account or the EBay account. This offers the security of non-repudiation to the sellers.

The user however is not protected by Propay against any losses incurred while utilizing Propay. The available insurance is subject to the Credit card or the Debit card issuer’s terms and conditions.

Other Services
EBay offers other ‘pay upon pick up ‘terms and use of escrow service to guarantee the delivery of the sound good to ensure buyers receive the sound productions purchased on the e-commerce site.