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FREE online courses on ECOMMERCE FUNDAMENTALS - Electronic Payment Systems - Banking network

A banking network allows:

1.      The consumer and the associated browser to interact with the consumer.

 

2. The merchant system residing on an on-line Web server with a connection to Web browsers over the Internet.

 

3. An on-line shopping mall that may help direct consumers to the merchant server.

 

4. The background banking network to support on-line payments from the consumer to the merchant.

 

Consumer and the browser

 

A consumer interacts with the on-line commerce system through a Web browser.                       

Typically, the consumer first accesses a shopping mall and then uses the hyperlinks from the mall to access the merchant's home page.

 

The graphical display for the consumer should closely emulate the real shopping environment. So, it pays to present colored graphics and 3D images. However, a typical home computer may have a 14.4 or 28.8 kilobit/s modem and it may take a significantly long time to transfer color images to the homebuyers.

 

Shopping mall

 

A shopping mall is where most consumers first visit for a shopping spree. The connections between the shopping malls and a merchant's storefront are evident. Typically, a merchant should be listed with several on-line shopping malls.

 

Merchant system

 

A merchant system consists of a home page and related software to manage the business.

 

Financial transactions

 

The banking network consists of several components. First, there is a bank that processes the on-line financial transactions for the given merchant. This bank maintains the accounts for the merchant, authorizes and processes the payments.

The merchant's bank also main­tains a link with the consumer's bank for verifying the transactions. The link between the merchant and his bank is often real-time so as to allow on-line authorization of consumer payments. The consumer's bank typically has an off-line link to the consumer, for example, via postal mail or e-mail.

 

 

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