B2b Ecommerce Best Practices Guide

Once a decision is made to develop a business, whom the customer will be is the next decision to be made. Whom will the company target as a customer? Will it be a business? Or will it be a consumer? Business-to-business (B2B) marketing has differences from business-to-consumer (B2C) marketing practices. This paper will outline these differences between the two types of e-commerce business transactions.

Businesses that offer multiple payment options reap the rewards of increased sales and larger profit margins1. Williams Arena, the home of University of Minnesota Gopher Basketball, currently accepts only cash at their concession stands during events. This proposal aims to encourage you to introduce credit card payment options at Williams Arena for the upcoming seasons. Doing this would benefit both the Gopher Athletics’ sales department and the patrons of the arena. After the problem is described in detail, a step-by-step plan will outline the process required to update the technology to include credit card readers. Finally, the benefits of this plan are discussed along with the potential costs involved.

There are also challenges that this industry is facing such as restrictions on online payment services by the government and agencies, security of information and data, and adaptation is also a problem. There is a race to control online payments and data processing that includes large known corporations such as Google, Apple, Samsung, Visa, PayPal, Square, Intuit and others more. And these corporations are very far ahead in the industry in terms of technology and consumer market. Apple last year had introduced the app called ApplePay, which enables you to store credit card and debit cards information and even gift cards and pay directly from your phone by

As technology advances over the years, we have experienced and noticed that the trend in how payment are received have shift tremendously. Twenty years ago, check was the preferred way of payment. In today’s world, more and more payments are done by credit cards. Credit card transactions are instance that provides a faster payment method.

The introduction of online transaction processing and real-time customer information will speed up the billing process

The service is available in multiple payment modes, online and through a network of agents. An instant confirmation is generated for the bill payments. The BBPS will transform the society from cash to electronic payment system, making it less dependent on cash.

According to the most recent Federal Reserve study; most of us haven’t set foot in a banking hall in ages. It is a lost battle to banks that opt to use traditional methods to conduct their banking transactions (Gup 2003). By December of last year, close to half of all smartphone users in the United States had transacted some or all of their banking on their phones and iPhones. In the United Kingdom alone, rates of mobile banking transactions doubled over the course of a single year (Scn Education 2001). A banking business that invests in this type of technology gets assured of increasing their customer base.

In 2016, e-Marketer estimates that 37.5 million people in the U.S. (19% are smartphone users) will transact using their phones, by the end of 2016, mobile payments are expected to exceed $27 billion. Predictions are that by 2017, U.S. mobile commerce will have increased so much in popularity that it will account for 50% of U.S. total digital commerce revenue (Mobile ecommerce, 2016).

. Mobile payment users >190 MM in2012, which is over3 % of total mobile users worldwide a level considered as "mainstream”

E-business uses the digital technology to optimize the business activities of organization in order to increase the efficiency and effectiveness of operation and gain competitive advantages. E-business provides the solution that allows the organization to instantly share database, information of products and services, financial figures and data and nearly anything else that the organization may need to operate the business activities effectively and efficiently (Nguyen, 2013). E-commerce which is the abbreviation of electronic commerce is the subset of e-business. It focuses on the online transaction which includes selling of products or service by using computer network, primarily the Internet.

The use, acceptance, adoption and application of internet technology to businesses to boast their performances are not something new. Saffu et al., (2008), states that there has been a significant increase in the use and application of e-commerce in businesses in the past decade. E-commerce has benefits such as reduction in costs, increased business opportunities, reduced lead time and providing more personalized service to the customers (Turban et al., 2008). Internet banking or e-banking is one of the many tools of e-commerce adopted by the banking industry. Tools of information technology such as internet banking have significantly improved the quality of services offered by the banking

The online payment marketplace is experiencing an explosion of innovative ideas, plans, and announcements, which one commentator has likened to a “goat rodeo”, a chaotic situation in which powerful players with different agendas compete with one another for public acceptance, and above all, huge potential revenues. Others liken the payment marketplace to a battle among the four platform titans Apple, Google, Facebook, and Amazon. Each of these titans have their own versions of a future payment system that challenges the other players. And let’s not forget PayPal, the reigning power in alternative online payment, or the credit card companies who process over 70% of online payments, or the

Online payment processing services perform transactions at a much greater speed than manual processing. As well as ensuring error-free computations and faster processing time. Which means

revenue in 1998. A company may expect to receive more than 50 percent of all

The last decade has witnessed a lot of growth of mobile communication devices and wireless technologies across the globe. This has led to a change in the way many activities are conducted and opened the way for m-commerce, which is e-commerce's next evolutionary stage. The significant power of m-commerce is primarily as a result of the ability to connect wireless devices anytime, anywhere (The Future of Mobile Payment Systems : Rise of the Mobile Wallet 2012-2017 [Electronic version], 2011).