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Amazon Pay is an online payments processing service that is owned by Amazon. Launched in 2007,Amazon Pay uses the consumer base of Amazon.com and focuses on giving users the option to pay with their Amazon accounts on external merchant websites. As of January 2019, the service is available in Austria, Belgium, Cyprus, Germany, Denmark, Spain, France, Hungary, Luxembourg, Republic of Ireland, India, Italy, Japan, Netherlands, Portugal, Sweden, United Kingdom, and the United States.
Amazon Pay incorporates a variety of products for buyers and merchants to process online payments.
Amazon Pay provides the option to purchase goods and services from websites and mobile apps using the addresses and payment methods stored in the Amazon account, such as credit cards or a direct debit bank account or the unified payments interface in India.
Amazon Pay Express is a payments processing service for simple E-commerce use cases on websites. Built on Amazon Pay but without requiring a full E-commerce integrationit uses a Java button code generator to create a button that can be copied and pasted onto a website or added via WordPress Plug-in. It is best suited for merchants selling a small number of products and with a single item in each order, such as a digital download.
Amazon Pay has undergone many changes in its evolution to improve the online payments processing for Amazon customers on external websites. While Amazon Pay is the most recent product, it represents the culmination of previous trial and error products, and strategic acquisitions.
CBA was an E-commerce solution that allowed web merchants to accept Amazon account information and use Amazon for payment processing. CBA could manage several aspects of the transaction including order processing, promotional discounts, shipping rates, sales tax calculation, and up-selling. Depending on the needs of the merchant, CBA could be integrated into the merchant's systems with manual processing (through Seller Central) or through SOAP APIs or downloadable CSV files. CBA also claimed to reduce bad debt because of Amazon's fraud detection capabilities. CBA was discontinued in the UK and Germany in 2016 and is set for discontinuation in the U.S. in April 2017.
FPS was an Amazon Web Service that allowed the transfer of money between two entities using a technology built on single, multiple, and unlimited use payment tokens. Merchants managed their use of the service via API or solution providers and accessed the account through the merchant account on the Amazon Payments website. The service was launched as a limited beta in August 2007, and later in February 2009 was promoted to General Availability . FPS differed from CBA in that FPS did not handle additional capabilities associated with order processing such as promotions, tax, and shipping. FPS also provided the payments processing for the Amazon Web Services DevPay service (https://aws.amazon.com/blogs/aws/make-money-fast/) but was discontinued on June 1, 2015.
Amazon in 2013 acquired GoPago's technology (mPayment) and hired their engineering and product teams.Amazon was interested in the mobile payment business. GoPago's app allows shoppers to order and pay for goods and services before they arrive at a business.
In September 22, 2010, Amazon published a security advisoryregarding a security flaw in its Amazon Payments SDKs. This flaw allows a malicious shopper to shop for free in web stores using those SDKs. Amazon mandated all web stores to upgrade to its new SDKs before Nov. 1, 2010. Amazon acknowledged security researcher Rui Wang for finding this bug. The detail of the flaw is documented in the paper "How to Shop for Free Online - Security Analysis of Cashier-as-a-Service Based Web Stores" by Rui Wang, Shuo Chen, XiaoFeng Wang, and Shaz Qadeer.
A debit card is a plastic payment card that can be used instead of cash when making purchases. It is similar to a credit card, but unlike a credit card, the money is immediately transferred directly from the cardholder's bank account when performing any transaction.
E-commerce is the activity of electronically buying or selling of products on online services or over the Internet. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. E-commerce is in turn driven by the technological advances of the semiconductor industry, and is the largest sector of the electronics industry.
PayPal Holdings, Inc. is an American company operating a worldwide online payments system that supports online money transfers and serves as an electronic alternative to traditional paper methods like checks and money orders. The company operates as a payment processor for online vendors, auction sites, and many other commercial users, for which it charges a fee in exchange for benefits such as one-click transactions and password memory.
Google Shopping, formerly Google Product Search, Google Products and Froogle, is a Google service invented by Craig Nevill-Manning which allows users to search for products on online shopping websites and compare prices between different vendors. Google announced at its Marketing Live event in May 2019 that the new Google Shopping will integrate the existing Google Express marketplace into a revamped shopping experience. In the U.S, Google Shopping is accessible from the web and mobile apps, available on Android and iOS. Google Shopping is also available in France, accessible from the web only. Like its predecessor, Google Shopping is free and requires a personal Google account in order to purchase from the platform. A colored price tag icon replaces the parachute icon from Google Express.
Online shopping is a form of electronic commerce which allows consumers to directly buy goods or services from a seller over the Internet using a web browser. Consumers find a product of interest by visiting the website of the retailer directly or by searching among alternative vendors using a shopping search engine, which displays the same product's availability and pricing at different e-retailers. As of 2020, customers can shop online using a range of different computers and devices, including desktop computers, laptops, tablet computers, smartphones, and smart speakers.
An e-commerce payment system facilitates the acceptance of electronic payment for online transactions. Also known as a subcomponent of electronic data interchange (EDI), e-commerce payment systems have become increasingly popular due to the widespread use of the internet-based shopping and banking.
Mercado Libre, Inc. is an Argentine company incorporated in the United States that operates online marketplaces dedicated to e-commerce and online auctions, including mercadolibre.com. As of 2016, Mercado Libre had 174.2 million users in Latin America, making it the region's most popular e-commerce site by number of visitors. The company has operations in Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Mexico, Spain, Ecuador, Guatemala, Honduras, Peru, Panama, Uruguay and Venezuela.
A payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit card or direct payments processing for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar. The payment gateway may be provided by a bank to its customers, but can be provided by a specialised financial service provider as a separate service, such as a payment service provider.
Brick and mortar refers to a physical presence of an organization or business in a building or other structure. The term brick-and-mortar business is often used to refer to a company that possesses or leases retail shops, factory production facilities, or warehouses for its operations. More specifically, in the jargon of e-commerce businesses in the 2000s, brick-and-mortar businesses are companies that have a physical presence and offer face-to-face customer experiences.
The term mobile commerce was originally coined in 1997 by Kevin Duffey at the launch of the Global Mobile Commerce Forum, to mean "the delivery of electronic commerce capabilities directly into the consumer’s hand, anywhere, via wireless technology." Many choose to think of Mobile Commerce as meaning "a retail outlet in your customer’s pocket."
Shopping cart software is a piece of e-commerce software on a web server that allows visitors to an Internet site to select items for eventual purchase.
A digital wallet also known as "e-Wallet" refers to an electronic device, online service, or software program that allows an one party to make electronic transactions with another party bartering digital currency units for goods and services. This can include purchasing items on-line with a computer or using a smartphone to purchase something at a store. Money can be deposited in the digital wallet prior to any transactions or, in other cases, an individual's bank account can be linked to the digital wallet. Users might also have their driver's license, health card, loyalty card(s) and other ID documents stored within the wallet. The credentials can be passed to a merchant's terminal wirelessly via near field communication (NFC). Increasingly, digital wallets are being made not just for basic financial transactions but to also authenticate the holder's credentials. For example, a digital wallet could verify the age of the buyer to the store while purchasing alcohol. The system has already gained popularity in Japan, where digital wallets are known as "wallet mobiles". A cryptocurrency wallet is a digital wallet where private keys are stored for cryptocurrencies like bitcoin.
A comparison shopping website, sometimes called a price comparison website, price analysis tool, comparison shopping agent, shopbot or comparison shopping engine, is a vertical search engine that shoppers use to filter and compare products based on price, features, reviews and other criteria. Most comparison shopping sites aggregate product listings from many different retailers but do not directly sell products themselves, instead earning money from affiliate marketing agreements. In the United Kingdom, these services made between £780m and £950m in revenue in 2005. Hence, E-commerce accounted for an 18.2 percent share of total business turnover in the United Kingdom in 2012. Online sales already account for 13% of the total UK economy, and its expected to increase to 15% by 2017. There is a huge contribution of comparison shopping websites in the expansion of current E-commerce industry.
Taobao is a Chinese online shopping website, headquartered in Hangzhou, and owned by Alibaba. It is the world's biggest e-commerce website and the eighth most visited website according to Alexa. Taobao.com has registered 2003-04-21 with domain registrar Alibaba Cloud Computing (Beijing) Co., Ltd.
Fortumo is an Estonian direct carrier billing service provider company which develops a platform for app stores and digital service providers for user acquisition, monetization and retention.
Shopify Inc. is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. It is also the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems. Shopify offers online retailers a suite of services "including payments, marketing, shipping and customer engagement tools to simplify the process of running an online store for small merchants."
Braintree, a division of PayPal, is a company based in Chicago that specializes in mobile and web payment systems for e-commerce companies. The company was acquired by PayPal on September 26, 2013.
Tmall.com, formerly Taobao Mall, is a Chinese-language website for business-to-consumer (B2C) online retail, spun off from Taobao, operated in China by Alibaba Group. It is a platform for local Chinese and international businesses to sell brand name goods to consumers in mainland China, Hong Kong, Macau and Taiwan. It has over 500 million monthly active users, as of February 2018. It is the world's third most visited website according to Alexa.
Payanywhere is a payments platform and app that allows merchants in the United States to accept credit and debit card payments while building customer relationships in-store, online, or on the go. Merchants may accept payments on their smartphone via a Bluetooth card reader or on an in-store “Storefront” solution featuring a tablet and stand, which was introduced on April 8, 2014. PayAnywhere offers credit card readers and apps that are compatible with both Apple and Android devices.
Cashier as a service (CaaS) refers to using a third party service as payment. When a shopper buys merchandise online, oftentimes, the shopper does not pay the merchant directly, but rather through a third party – the cashier. The cashier is trusted by both the shopper and the merchant and is expected to allow for reliable and secure transfer of money. By paying a merchant through a cashier, shoppers are able to pay for merchandise without giving away their financial information to the merchants.