E_Week4DQ Essay Example | Topics and Well Written Essays - 750 words

E_Week4DQ - Essay Example The money transfer is done without exposing the account details of the sender to the buyer. On purchase, the money is transferred directly from the buyers account to the sellers account. The transaction can be monitored by the buyer through logging into the Micropay account. In the event of any loss, Micropay refunds the cost of the purchased item and the cost of the initial postage value. This mode of payment offers Privacy, integrity, and non-repudiation and the authorizing entity, in this case Micropay issues the users against any losses. Micropay facilitated payment of large values as well as small values. The cash value accumulated in the Micropay account is transferable to banks and internationally. The system is easy to use and allows users to login and transact business from different locations and computers. One has to register with both EBay and Micropay to be able to utilize Micropay services (Hsiao-Cheng, Kuo-Hua, & Pei-Jen, 2002). How Micropay works Micropay does not pro vide a different way of banking but is just a middleman in the transactional processes. Credit and debit cards transactions travel on different networks. When a merchant a transaction to be made through Micropay, they will do so by paying a small fee which is normally 2 percent of the transaction. There is also an interchangeable fee that is charged for all the companies that take part in the transactions. The fee is universal and is charged for any company that is involved in the process. The part that Micropay comes in is in that both the buyer and the seller deal with Micropay after they have provided their banking details. Micropay then handles all the transactions that will take place between all the banks that will be included and will pay the interchange fee. They will recover the money that they pay for the interchange from the fee they charge for receiving the money. They also get it from the interest they get from the money they left in their accounts (Han Zhang & Haizheng , 2006). I am sure that Micropay will assist us in our e-commerce project in the fact that it will help us to get payments done to various clients. It will also help us secure our money and trust. Their security is trustworthy and we are able to bank on it getting payments and making payments. References Han Zhang & Haizheng, L 2006, Factors affecting payment choices in online auctions: A study of e-Bay traders, Springer, New York. Hsiao-Cheng, Y, Kuo-Hua H, & Pei-Jen K 2002, Electronic payment systems: An analysis and comparison of types, Chiao-Tung University, 1001 Ta-Hseuh Road, Hsinchu 30010, Taiwan IBM Taiwan, Taipei 100, Taiwan Technology in Society. In a 3 to 4 paragraph essay with support from the text theory discuss the following:Â   As a customer, what is your biggest security nightmare and how to you expect the site to protect you? My biggest security nightmare is having our online account hacked and all the funds transferred to other accounts. This will mean that all ou r money for undertaking the e-commerce shall have been lost. Micropay will be of great help in the sense that the online transactions will be secured. Due to the nature of Micropay in the sense that it has all the personal information of many users on the Internet, it has an extra layer of security for the purpose of securing the data it handles on the Internet. The details that it handles include bank account numbers, addresses and credit card numbers. With other online transaction

Competition between Loblaw and Wal-Mart Essay Example | Topics and Well Written Essays - 1500 words

Competition between Loblaw and Wal-Mart - Essay Example The Executive Chairman of the company is Galen Weston who at the time of the launching of these stores was just five month into the new position. He succeeded his father W. Galen Weston. The Executive Chairman is in a very demanding place at the moment. He not only has to flip the tables for the company but also has to save the family’s reputation. He supporting executives have let him down very badly with awfully wrong recommendations, now he has taken the reins of the organisational strategy in his own hands. He believes that he can turn the fortune of the company around because according to him the company has been through much more difficult times than this and it has always managed to crawl back up. And there is no reason to believe that the company would not do the same now when it faces a similar crisis situation (Besanko, Dranove, Shanley, and Schaefer, 2007). BARRIERS TO ENTRY: Barriers to entry are placed by an existing business of an industry in the industry to disc ourage other interested entrant from entering the industry (Ferguson and Ferguson, 1994). The existing business can discourage a new entrant in a number of ways, for instance its can fabricate certain situations in the industry which would require a new entrant to put up huge capital investment before entering the industry (Leamer, 2009). The existing business can also put up a show of its strong brand equity in the marketplace, which can also discourage a new entrant from entering (Barthwal, 2000). Michael E. Porter (2008), while analysing the competitive environment of an industry identified six entry barriers: 1. Economies of scale: This occurs when unit price of a product decreases when a certain level of production volume is reached by a business (Mankiw, 2009). When existing players in the industry gain this advantage they force the new entrant to either find a competitive production volume or bear the high unit cost. Other similar cost advantages which the existing player wou ld have on his side include: proprietary information, favourable location, experience, excess to raw material, government subsidies and etc (Arnold, 2008). 2. Product Differentiation: Since existing businesses in an industry have an established brand equity and identity, this fact makes it important for new entrant to come up with a different product. In this regard the new entrant has to invest a lot of resources, which can be very discouraging for him (Wessels, 2000). 3. Capital Requirement: This is a requirement which comes up when new entrant wants to enter an industry. They have to commit huge amount of capital to acquire operational status (Johnson & Scholes 2001). 4. Switching Cost: This cost has to deal with customers, who have to bear this cost when they switch to a different provider of the same product. Certain industries have a very high switching cost which makes it important for the new entrant to offer customers some relief or incentives so that the customers find som e motivation to switch (Borodzicz, 2005). 5. Access to Distribution Channels: In an industry the established players have a dominating position when it comes to influencing the members of distribution channels. Through long standing relationship agreements an established business erects a hurdle for a new entrant, who has to