After the hype: e-commerce payments grow up

On June 18, 2003, the Payment Cards Center of the Federal Reserve Bank of Philadelphia and the Electronic Commerce Payments Council (eCPC) of the Electronic Funds Transfer Association co-hosted a workshop forum to explore areas of mutual interest related to the proliferation of e-commerce payments. This was the second event jointly sponsored by the groups. ; The first forum, “The Future of e-Commerce Payments,” which was held in June 2002, focused on the possibilities ahead, as various electronic payment channels displace paper checks as a primary payment form. The more recent forum, “After the Hype: e-Commerce Payments Grow Up,” continued the dialog, emphasizing recent economic and marketplace realities that impact ecommerce payments innovation, acceptance, and maturation. ; Participants and speakers included Federal Reserve staff and industry leaders.Electronic commerce

Monitoring in a Virtualized Environment

Monitoring solutions for virtualizedinfrastructure (VI) should evolve to collect, analyze andprovide configuration recommendation based on a broaderrange of operational metrics. A virtualized infrastructureis a complex interaction of hardware (servers, network andstorage), hosting variety of multi-tier application with specificservice level requirements and governed by their security andcompliance policies. Most existing solutions of today monitorand analyze only a subset of these interactions. The analysis andrecommendation obtained tend to optimize only particular aspectsof the infrastructure and can potentially introduce violations forthe others. A virtualized infrastructure is dynamic in nature,providing immense opportunities to automate configurationchanges to virtual machines, networks and storage. It deliversthe capability to administer the whole of infrastructure as a largeresource pool shared by multiple workloads. Monitoring solutionsthat look at only few aspects end up forcing administrators tocreate silos within the infrastructure that are specially designedto ensure that business service requirements are met for thespecific applications running there. A monitoring solution thatcan collect and analyze multiple aspects for assisting in decisionmaking and process automation can deliver greater efficiency tothe virtualized infrastructure.In this paper we argue the importance of having amonitoring solution that provides a holistic view of thevirtualized infrastructure. We discuss the need for solutions tobe capable of monitoring and analyzing a broader set of metricssuch as health of infrastructure components; performance ofoperating environment such as hypervisors, operating systemsand application running on them; capacity utilization indicatorsfor server, networks and storages; information available withconfiguration and change management database containingpolicies including security and compliance policies. We also takea look at what these broader set of metrics are and who wouldbe interested in them. The paper further proposes a monitoringframework for collecting and analyzing the above mentionedaspects of a virtual infrastructure to develop a more completesolution

SELLER-BUYER TRUST IN CROSS-BORDER E-COMMERCE: A CONCEPTUAL MODEL

We conceptualize and propose a theoretical model of sellers’ trust in buyers in the cross border e-commerce context. This model is based on by signalling theory, which is further refined by using trust theories and empirical findings from prior e-commerce trust research. _x000D_ _x000D_ Keywords: buyer-seller trust, cross-border, e-commerce, signalling theory, trust theory, small and medium sized._x000D

Prepaid card markets and regulation

Prepaid cards, also commonly referred to as stored-value cards, are typically credit card-sized pieces of plastic that contain or represent an amount of pre-loaded value. They include a wide range of payment products, such as gift cards, payroll cards, teen cards, and travel cards. Despite significant product innovations, it is unclear whether and how existing federal and state laws that apply to other financial products (e.g., checks, credit cards, deposit accounts) apply to the different varieties of prepaid cards. Overall, the law in this area is very much unsettled. In an effort to understand the legal and regulatory issues facing prepaid cards, the Center invited Judith Rinearson, chief counsel to American Express’ electronic stored-value business, to present a workshop on the topic. This paper provides highlights from Rinearson’s presentation. It analyzes the different kinds of prepaid card products on the market and the federal and state laws that potentially apply to them.Regulation E: Electronic Fund Transfers ; Stored-value cards

The future of e-commerce payments

On June 19, 2002, the Payment Cards Center of the Federal Reserve Bank of Philadelphia and the Electronic Funds Transfer Association's Electronic Commerce Payments Council (eCPC) sponsored a joint conference. This meeting was part of the regularly scheduled quarterly council meetings that bring together stakeholders interested in developing or enhancing e-commerce payment alternatives. The session included both Federal Reserve staff and industry leaders discussing how electronic payments are becoming an alternative to paper-based payment products and the adoption of electronic payments by consumers and merchants.Electronic commerce

E-commerce settles for established payment systems: Limited market potential for innovative payment systems

Established payment systems play a dominant role also in B2C e-commerce. Innovative payment systems can only be a success here if they pay attention to the particular features of e-commerce, convey the worth of their value-adding unique selling proposition and enjoy the support of established e-shops or financial service providers. However, apart from rare cases the conventional payment systems leave little room for the innovative systems. This holds all the more since the conventional payment systems are responding to the new demands of B2C e-commerce.Information- and communication technology; ICT; E-Business; E-Commerce; B2C-E-Commerce; Internet; e-payments

There\u27s an App for That: Developing Online Dispute Resolution to Empower Economic Development

Traditionally, litigation has been the norm for resolving disputes. It takes place in a public forum and face-to-face. In a global economy, however, such public and face-to-face dispute resolution is not feasible. This is especially true with cross-border purchases through e-commerce. E-commerce requires more efficient and less litigious remedy systems that allow consumers to obtain remedies on their purchases without the cost and travel associated with traditional face-to-face procedures. This has led to development of online dispute resolution (“ODR”) processes, especially with respect to business-to-consumer contracts. Accordingly, scholarship and policy papers have advanced ODR for the benefit of consumers. What deserves emphasis, however, is promotion of ODR to empower businesses that seek to attract customers globally. Establishment of trusted ODR systems incentivizes consumers to make cross-border purchases because it provides them with the comfort of knowing there is a cheap and easy means for obtaining a remedy if the purchase goes awry. This is especially important to assist businesses in developing nations, where Internet access is expanding through use of smartphones and similar mobile devices. Such mobile access is narrowing the so-called “digital divide” and fostering enthusiasm for building e-commerce, which is imperative for economic development and global integration. ODR can further these efforts by catalyzing consumer trust, and consequently cross-border sales. This article, therefore, encourages growth of global ODR that is accessible through mobile devices as means for increasing access to remedies and trustworthy e-commerce for companies and consumers in developing nations