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Internet Payments Internet Payments Recent years have witnessed substantial growth in the use of both Internet and electronic documents. Information is flowing more
ecommerce Internet Payments Recent years have witnessed substantial growth in the use of both Internet and electronic documents. Information is flowing more freely
Internet Payment Gateways & Schemes Every merchant that wants to accept and process payments on the Internet is required to have the following: An Internet merchant
used payment method is credit cards, which account for eighty percent to ninety percent of internet payments . Debit cards are also another major medium of payment.
opportunities and innovate together. eBay Inc. does this by providing the Internet platforms of choice for global commerce, payments and communications. Since its
Submitted by rkos on January 27, 2007
Category: Technology
Words: 881 | Pages: 4
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Internet Payments
Recent years have witnessed substantial growth in the use of both Internet and electronic documents. Information is flowing more freely than ever before. Goods and services are now being bought and sold electronically. Increasingly, business communications are being conducted online and are adapting their operations to an electronic environment.
Internationally and in Canada, the widening application of the Internet in commercial transactions is evident. Current statistics reveal that $195.39 billion (CDN) in revenue was generated by global Internet commerce of which Canada accounted for 6.8% of the world share. By 2004 total global revenue from Internet commerce is expected to reach $3.9 trillion.
The potential growth for this industry is also bolstered by the fact that more than 55% of Canadians are currently accessing the Internet. Given the astronomical growth in this relatively new business phenomenon, it is important to assess its implications on the Canadian consumer. Undeniably, the most controversial policy issue affecting consumers and the one that has received the most attention is the issue of privacy.
In Canada, the federal government responded to this area of concern with the passage of Bill C-6 on April 13th, 2000. The legislation aims to protect the privacy of personal information on individuals held by the private sector, to ease electronic commerce and to give clear legal status to certain electronic documents. Although steps have been taken domestically, an international response is also necessary in order to alleviate any problems with cross-jurisdiction regulatory issues that may arise.
Consumer privacy issues are more evident now with the growth of Internet commerce technologies. Consumer concerns are heightened by the commercial advantage in exploiting personal information. In unregulated free markets the interests of...
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