The online wallet is a web program or service that allows users to store and control their online shopping information, such as login, password, shipping address and credit card details, in one main place. It also provides a fast and easy method for consumers to buy products from anyone or stores around the world.
Generally, the payment process is:
First payment:
- Users register, enter their phone number, and the provider sends an SMS to them with
- The user entered the PIN received, authenticates the number
- Users enter their credit card information or other payment methods if necessary (unnecessary if account has been added) and validate payment
Next payment:
- Users enter their PIN to authenticate and validate payments
Requesting a PIN is known to decrease success rate (conversion) for payment. The system can be integrated directly or can be combined with operator and credit card payments via integrated mobile web payment platform.
Video Online wallet
History
English businessman Michael Aldrich invented online shopping in 1979. His system connects modified domestic TVs to real-time transaction processing computers via domestic telephone lines. He believes that videotex, a modified domestic TV technology with a menu-driven human-computer interface, is a new and universally applicable communication media - the first since the discovery of the phone. 'It enables a' closed 'corporate information system to be opened to' outside 'correspondents not only for transaction processing but also for e-messaging and information retrieval and dissemination, which came to be known as e-business. His understanding of new mass media communications as 'participatory' [interactive, many-to-many] is fundamentally different from the traditional definition of mass communication and mass media and the predecessor of social networking on the Internet 25 years later.
In March 1980, he went on to launch Redifon's Office Revolution, enabling consumers, customers, agents, distributors, suppliers and service companies to connect online to enterprise systems and enable business transactions to be completed electronically in real-time.
During the 1980s he designed, produced, sold, installed, maintained, and supported many online shopping systems, using videotex technology. These systems also provide voice response and pre-dated handprint processing of the Internet and World Wide Web, IBM PCs, and Microsoft MS-DOS, and are installed primarily in the UK by large companies.
The first World Wide Web server and browser, created by Tim Berners-Lee in 1990, was opened for commercial use in 1991. Subsequently, subsequent technological innovations emerged in 1994: online banking, the opening of an online pizza shop by Pizza Hut, SSL Netscape standard v2 encryption for secure data transfers, and Intershop's first online shopping system. Soon after, Amazon.com launched an online shopping site in 1995 and eBay was also introduced in 1995.
Maps Online wallet
Acceptance as Form of Payment
Due to slow adoption and high competition, there is currently no single universally accepted standard online wallet. Online wallet receipts as a form of payment vary according to the policies of each store and the type of online wallet that is used. For example, Google Wallet can be used in MasterCard Paypass locations in the United States. In contrast, Bitcoin, although accepted internationally, is much less commonly accepted, partly because of its association with illegal websites such as Silk Road (the market). It is estimated that in the near future, as the use of online wallets increases, the consumer's appeal to certain technologies will reduce the number of certain online wallets.
Security
Tips and Concerns
It is possible to agree that some customers may not be completely satisfied with the products purchased using their Online Wallet. In this case, other transactions are required between the consumer and the supplier, in order for the consumer to receive a refund. Therefore, unsatisfied customers contact suppliers (either via email or phone) and agree basically to trade again, in which the consumer sends back the product in return for the monetary value spent on the product. Since online wallet purchases are usually transferred to a supplier with credit (not physical money) that withdraws compensation from an online wallet-connected account, online wallet refund requests - once the product returns to the supplier - are transferred from the supplier with credit, which is returned to the account online wallet. The Terms of Service contains specific details about the policy and offers a thorough breakdown of how exchanges are handled with online wallets (for example, Gift Cards, Google Wallet Cards, etc.).
See also
- Electronic money
- Online Shopping
- Digital wallet
References
Source of the article : Wikipedia
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