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Electronic Commerce Khaled M. Elleithy, Ph.D. [email protected] Department of Computer Engineering King Fahd University of Petroleum and Minerals Dhahran, Saudi Arabia Internet Services E-mail FTP Telnet finger Mailing lists USENET WWW Gopher Veronica Archie WAIS

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Electronic commerce l.jpg

Electronic Commerce

Khaled M. Elleithy, Ph.D.

[email protected]

Department of Computer Engineering

King Fahd University of Petroleum and Minerals

Dhahran, Saudi Arabia


Internet services l.jpg
Internet Services

  • E-mail

  • FTP

  • Telnet

  • finger

  • Mailing lists

  • USENET

WWW

Gopher

Veronica

Archie

WAIS


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Internet: Strengths and Weaknesses

  • Worldwide connectivity

    • 148 out of 185 UN countries (1995)

    • 73 out of 159 UN countries (1991)

  • Interactive

  • Relatively Inexpensive

  • No central authority

  • Reliability ?

  • Security ?


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Rationale

  • A recently published report by Ernst & Young entitled Internet Shopping reported that 41 percent of US households have computers, 20 percent are online, with 11 percent more planning to go online within the next twelve months, bringing the total up to 1 in 4 US households online. 32 percent of those online have purchased online with another 30 percent interested in web shopping. Computer products, books, travel, clothing and music are the most commonly purchased online products.



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What is Electronic Commerce?

  • Electronic commerce is using the networks to facilitate the selling and buying of goods and services and related activities involved in the transaction of business.

  • Big business has been conducting electronic commerce for several years using electronic Data Interchange (EDI)


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Advantages World Wide Web (WWW) is becoming possible.

  • Cut the cost of finding customers and suppliers

  • *Expand trading areas from local to global

  • Speed the time it takes to purchase and receive goods and services

  • Pay for and receive goods as they are needed without having to rely on large inventories


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Disadvantages World Wide Web (WWW) is becoming possible.

  • The perception that transacting business is risky for both buyers and sellers

  • The lack of standards for digital money and other electronic payment systems


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New Technologies in Using Internet for Electronic Commerce World Wide Web (WWW) is becoming possible.


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Conventional Electronic Commerce World Wide Web (WWW) is becoming possible.

  • Online catalogs in hypertext format

  • Fax, telephony, imaging

  • Electronic orders


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New Technologies World Wide Web (WWW) is becoming possible.

  • Digital cash

  • Malls

  • Virtual companies


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Cash World Wide Web (WWW) is becoming possible.

  • Characteristics:

    • Anonymity

    • Liquidity

  • Weaknesses

    • High risk of robbery

    • Expensive to store and move

      • $60 billion a year in USA for transportation


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Electronic Payments World Wide Web (WWW) is becoming possible.

  • Agents: buyer, seller, intermediary

  • Steps

    • buyer initiate transaction with the seller,

    • seller demands payment,

    • buyer obtains a certification from intermediary,

    • buyer gives the certification to the seller,

    • the seller gives the certification to intermediary


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Advantages of Electronic Fund Transfer World Wide Web (WWW) is becoming possible.

  • Saved time

  • Reduced costs for paper handling

  • Flexibility

    • ATM


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Disadvantages of Electronic Fund Transfer World Wide Web (WWW) is becoming possible.

  • Non-anonymity

  • Low Liquidity


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Prepaid Cards World Wide Web (WWW) is becoming possible.

  • Advantages

    • Anonymity

    • Security

  • Disadvantages

    • Liquidity


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Digital Cash World Wide Web (WWW) is becoming possible.

  • Steps

    • Withdrawal of the digital cash from client’s digi-cash account

    • Transfer of the digi-cash to client and storing it in an electronic format

    • Transfer of digi-cash from client to seller using Internet services (ftp, e-mail, ..)

    • All transferred digit-cash should be encrypted


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Merits World Wide Web (WWW) is becoming possible.

  • Advantages

    • Anonymity (cash)

    • Security (ETF)

    • Low risk of robbery (ETF)

    • Non Expensive to store and move (ETF)


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  • Problems World Wide Web (WWW) is becoming possible.

    • Liquidity

      • more people should have access to the Internet

    • US. Export restrictions on advanced encrypted systems.


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Example: Ecash World Wide Web (WWW) is becoming possible.

  • Developed by Digicash Co. of Amsterdam

  • Implemented by Mark Twain Bank in US.

  • Ecash accounts:

    • Funds are not deposits in the bank

    • Funds are not insured


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  • Procedure World Wide Web (WWW) is becoming possible.

    • Withdraw Ecash using Internet

    • Store Ecash in hard disk (electronic wallet)

    • Ecash is stored electronically and encrypted

    • Transfer Ecash to others using Internet

    • Encryption

      • Asymmetric RSA

      • 768 bits key size


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Internet Malls World Wide Web (WWW) is becoming possible.

  • Malls on WWW housing some thousands retailers

  • The number of malls is doubling every year


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First Virtual Company World Wide Web (WWW) is becoming possible.http://www.fv.com/pubdoscs/fv-austin.txt

  • Four Founders lived in San Diego, Orange county, Silicon Valley, and Northern New Jersey.

  • Formed early 1994, first product announced October 1994

  • No Physical offices until 15 months after the company was founded (eight months after system become operational)

  • The servers were setup in Cleveland

  • The data 800 numbers were in Portland


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First Virtual Company World Wide Web (WWW) is becoming possible.

  • The voice 800 numbers were in Oregon

  • Marketing from Washington

  • Public relations in San Diego

  • Most of transactions, marketing, public relations, maintenance of machines are done through the Internet.


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  • Internet payment system World Wide Web (WWW) is becoming possible.

    • Intermediary payment system

    • Does not relay on encryption

    • Sensitive information (postal service)

      • Credit card numbers, PIN numbers (buyer)

      • Bank account (seller)

    • Non sensitive information (Internet)


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  • Steps World Wide Web (WWW) is becoming possible.

    • The buyer issues a transaction using Internet protocols (web pages, email, ftp ,…)

    • The server check for the PIN number

    • An email message is sent to the buyer to confirm transaction

    • Transaction is initiated by the payment system


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Impacts World Wide Web (WWW) is becoming possible.

  • Velocity of money flow

    • credit cards (ETF)

    • Digi-cash

  • Evolutionary steps

    • gold coins to fiat currency

    • bills in wallet to electrons on hard disk

  • Interest rate margins

    • 40% of interest charged on loans is for branch delivery and management costs (citicorp).


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Ambiguities World Wide Web (WWW) is becoming possible.

  • Technological constraints

  • Institutional constraints

  • Financial institutions acceptance

  • Consumer acceptance


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