Electronic currency

Today, many business owners are using “e-commerce” to make money and for consumer they get convience dealing with online transaction as they can make the payment by just a simply click on the confirm button and the deal is then completed. The payment paid though online is calling electronic currency. Electronic currency is also known as electronic cash, e-money, digital money, digital cash digatal currency and so on. Normally,its involve in computer networks, the internet, and digital stored value when using electronic currency. It served as universal media of exchange for money and scrip. The common example of electronic currency that everyone similar is Electronic Funds Transfer(EFT) and direct deposit.

Examples of e-micro payment system:





1. Bit Pass (bitpass.com)
Bitpass was founded in December, 2002. This system was one of the online systems for digital content, services, and its can works similarly to a pre-paid telephone card. Furthermore this system also allow their customer to sign up for the services and put money into your account using a credit card or paypal in order towards the purchase of content. Bitpass has an easy integration with paypal. Moreover, Bitpass announced that they were shutting down due to the 'circumstances beyond our control' on 19th of January in 2007.

2. PayPal(paypal.com)
PayPal is a business that carrying out towards e-commerce that allowing online payment, and money transfer service that allows their consumer to send money via e-mail, phone or by electronic debit from a bank account and credit card through the internet. PayPal performs payment processing for online vendors, auction sites, and other corporate users, for which it charges a fee. The fee will charge in added a small portion into the cost per transaction.

Pros of using Electronic Currency
1) Electronic currency is cheaper because it allows transaction to take place through internet at a low costs.

2) Convenient for consumer to shop through online and save their time and effort by going shopping in centers.

3) Faster, because by this Electronic Currency the transaction can be done in a few seconds. (Example: ATM)

4) Confidentiality because customer information will not easily passes or explore to other parties due to the security provided by the use of encryption.

Useful Link:

http://wwwbloggerecommerce.blogspot.com/2009/07/electronic-currency.html
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