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FREE online courses on ECOMMERCE FUNDAMENTALS - Electronic Payment Systems - Electronic credit

The third and final digital economy scheme is using credit cards for e-commerce. In electronic credit, conversational credit cards may be used along with a PIN. The PIN is a secret code that the consumer must enter while using the credit card on-line.  It prevents misuse of the credit card in case it is stolen.

 

Electronic credit uses four essential components:

 

1.      A consumer with a Web browser.

 

2.      A merchant server that provides the home page. Specifically, the merchant

     server handles the credit card transactions.

 

3.      A merchant's bank that handles the credit card transactions for the merchant.

 

4. A card-issuing institution that has issued a credit card to the consumer.

 

 

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