Chapter 12. Payment Systems for Electronic Commerce. Learning Objectives. In this chapter, you will learn about: The basic functions of payments systems that are used in electronic commerce The history and future of electronic cash How electronic wallets work
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Payment Systems for Electronic Commerce
Note the special offers
Note also the limitation of 9 other trips since the Octopus memory only remembers the last 10 trips
School children in HK are checked in and out of school using their Octopus cards
“Analysts believe that easy mobile payment is one of the main prerequisites for the success of m-commerce. When the mobile phone can function as an electronic wallet for mobile payments, including micropayments, application developers will find it attractive to introduce new mobile communication services to the market. Examples include mobile entertainment (downloads of music, mobile gambling, etc.), information services (sports news, horoscopes, location-based services, etc.), and real-world services (paying parking fees, buying train or concert tickets, etc.). Network operators envision micropayments as an attractive business that does not compete with banks or credit card companies. For the end user, PayCircle will make m-commerce easy and secure and thus eliminate the major hurdles to widespread adoption and popularity.”
PayCircle.org Press release Jan 23rd 2002