Cashless commerce for the customers

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Abstract:

We are mainly developing the cashless commerce for the customers who are interested in the online shopping. This cashless commerce project will provide the basic needs of the customers through the online shopping for all the Global customers.

By using this cashless commerce system we can do the shopping from anywhere on the globe by just having a Credit Card. By using this we can have secured transactions with this system. This mainly supports with the e-commerce and e-business.

Online shopping provide more freedom and control to the customers than manual shopping. Thus through the online shopping we are attracting the customers day by day with all the expert features and thus expanding ourselves through e-Market.

Introduction:

What Is Cashless Commerce?

1. Business Definition: The payment of a week or monthly wage through the electronic transfer of funds directly into the bank account of an employee.

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2. A society in which all bills and debits are paid by electronic money media, for example, band and credit cards, direct debits and online payments.

Need For Shopping:

Shopping is the one of common passion for each and every human being. Generally we are going to the shop, selecting one product and then went to another shop and their we select the same product and comparing the price of both products and quality then we will decided which one is the best to buy. After conforming we pay the money for that product.

Here there is a lot of work for a person to do shopping. So if we move for some innovative tasks it will be useful for all types of people using it and helpful for all the persons who want to shop. This is the main reason by we went for opting a separate method for shopping which is very useful in all aspects to the customers who want to buy. The main theme is that we place some of the electronic gadgets online so that people can compare among those and get the best.

To overcome all the tedious tasks and many of the disadvantages in the normal shopping we go for the new method of shopping which includes shopping at their own place where they are sitting. All the drawbacks in the normal shopping itself is leads to the new method in shopping and are the main reasons for the online shopping method that is using by the cashless commerce by using the internet and credit or debit cards.

Online shopping is the process consumers go through to purchase products or services over the Internet. An online shop, e-shop, e-store, internet shop, web shop, web store, online store, or virtual store evokes the physical analogy of buying products or services at a bricks-and-mortar retailer or in a shopping mall.

We are social animal. We can't do everything on our own. We take services of other persons and pay for them. We can't prepare every product of our need by ourselves. We do shopping to fulfil our requirements. Shopping might be a nice experience to many of us but often people don't have time to engage themselves in visiting markets, checking the prices and matching it with quality of products to make a good deal. Today most of people work on computers and internet and often got involved in work.

Emergence of Online shopping sites are happy news for the persons who are the employees and to the busy persons who can't do the shopping with their busy schedule as they can also buy products online by taking a little break from their work without spending a lot of time and without moving out from his office or home. There are many online shopping sites which provide easy shopping options to customers like amazon.co.uk,play.com, littlewoods.co.uk,ebuyer.com, ebay.com etc. We can find products of all categories on these sites in wide range of prices. We can choose product of any category at desired price. There are options that help you to compare a product with other products meant for same purpose.

We can set your affordable price range and the site will show you the available products in that range. Compare a product with other in price, quality, features and durability and then make our decision. We don't need to argue with shop owner for all these things. If we are facing some problem and need help, there are help options that guide us to be out of those problems. These sites also provide you various payment options; we can choose any one according to our convenience. Online shopping is a fun like experience. Many products are available for us with attractive offers and for more discount rate.

Overview:

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In general, shopping has always catered to middle class and upper class women. Shopping has evolved from single stores to large malls containing many stores that most often offer attentive service, store credit, delivery, and acceptance of returns. These new additions to shopping have encouraged and targeted middle class women.

In recent years, online shopping has become popular however, it still caters to the middle and upper class. In order to shop online, one must be able to have access to a computer, a bank account and a debit card. Shopping has evolved with the growth of technology. According to research found in the Journal of Electronic Commerce, if we focus on the demographic characteristics of the in-home shopper, in general, the higher the level of education, income, and occupation of the head of the household, the more favourable the perception of non-store shopping. An prominent factor in consumer attitude towards non-store shopping is disclosure to technology, since it has been confirmed that increased exposure to technology increases the probability of developing favourable attitudes towards new shopping channels.

Objectives:

  • Online Shopping System is a system which is the online selling of products available.
  • It introduces new services with lower over-heads.
  • It is easy for consumers to manage a non-digital channel.
  • It increases market size.
  • It provides the information about the current status of the Products.
  • It provides reviews about new product in market.
  • This philosophy is widely used and will be of immense use of future applications.
  • Proper updating as well as feedback can be added and viewed by the authorized users.

Payment:

Online shoppers commonly use credit card to make payments, however some systems enable users to create accounts and pay by alternative means, such as:

  • Debit card
  • Various types of electronic money
  • Cash on delivery (C.O.D., offered by very few online stores)
  • Cheque
  • Wire transfer/delivery on payment
  • Postal money order
  • PayPal
  • Google Checkout
  • Amazon Payments
  • Bill Me Later
  • Money bookers
  • Reverse SMS billing to mobile phones
  • Gift cards
  • Direct debit in some countries

Some sites are not allow the international credit cards and debit cards for billing address and shipping address have to be in the same country in which site does its business. Other sites allow customers from anywhere to send gifts anywhere. The financial part of a transaction might be processed in real time (for example, letting the consumer know their credit card was declined before they log off), or might be done later as part of the fulfilment process. While credit cards are currently the most popular means of paying for online goods and services, alternative online payments will account for 26% of e-commerce volume by 2009 according to Client.

Product Delivery:

Once a payment has been accepted the goods or services can be delivered in the following ways.

  • Download: This is the method often used for digital media products such as software, music, movies, or images.
  • Shipping: The product is shipped to the customer's address.
  • Drop shipping: The order is passed to the manufacturer or third-party distributor, who ships the item directly to the consumer, bypassing the retailer's physical location to save time, money, and space.
  • In-store pickup: The customer orders online, finds a local store using locator software and picks the product up at the closest store. This is the method often used in the bricks and clicks business model.
  • In the case of buying an admission ticket one may get a code, or a ticket that can be printed out. At the premises it is made sure that the same right of admission is not used twice.

Description:

A customer who is new to our site has to register himself/herself and the registered customers can directly log in. Validity of the User-id and password is carried out so that only the authorized customers can do their shopping. After log in, he will be provided with the menu from which he can choose the different sections for shopping the products. As he goes on browsing, the product details are provided that is different for different products. Just by clicking the BUY button he can purchase the product, also he is provided with Add to cart button, by mere clicking of this button the selected product is added to the Basket. He can specify the quantity that he wants.

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We are providing the View cart button, which gives description of the products he has purchased. Also we are providing Delete and Modify buttons so that so that the customer can delete or modify the purchased items. By clicking the Bill button the total bill of the items will be displayed and he is asked his credit card number and password so that the money is transferred from his account. If the credit allowed to him is not enough to buy the products, then he will be informed with a message stating “Your bill is more than allowable credit. Please verify!”

If the amount is allowable then the products are delivered to the customer's address, which is specified in registration form.

Features Of Shopping: -

Providing Company and Product Information:

One of the more common reasons for creating a website is to provide information about the company and its products. Another advantage the web provides is the capability to get the information out to people who do not even necessarily know they want it.

Customer Purchases over the Internet:

We can also set up our site to allow the purchase of our products over the Internet. For example, if we are selling software, we can provide the purchased products on the spot, allowing the users to download the newly purchased software immediately after they have paid for it.

Reliable Products:

We provide shopping for the online customers with reliable products for affordable prices. All the registered customers are informed with the details of new products whenever they entered into the market through e-mails.

Electronic Commerce As A Market:

Electronic commerce means simply defined as “Business doing in electronically”. Doing business electronically means that many predictable business processes, such as advertising and product ordering, are being digitized and conducted on the Internet. However, the Internet is not mere alternative channel for marketing or selling products Online, for instance, the most recent alternatives to mail-order business, catalogue shopping, home shopping networks and direct marketing. Instead the electronic market place enables sellers to innovate total business process from production to customer service-which were said to occur in stages.

The project Online shopping is especially made for those users who want to purchase various items through the internet, the user done the online shopping through internet and made the payment through Credit/Debit card / net banking Cheque/DD (Using a Mobile) .For example if we want to purchase one computer the User can also get the information about any peripherals of computer or whole system which he or she wants to buy. The advantage of this is that this project provides very easy and secure way for online shopping. User surf the shopping items list one by one and can add the product in the shopping list which he or she wants to buy, the project generates a virtual cart for the user when the first page open by the user until he or she done his whole shopping or session expires.

After finishing the shopping users have to fill a small form to contain the basic information about them for manage the database. After this formality automatically the bill is generated and the payment is made through the Debit/Credit card which is done through the gateways that provide this functionality.

Precautions:

Shopping online can be great fun; however, there are a few precautions that are needed to make it pleasant.

  • Be sure of the credentials of the seller before we actually place an order.
  • We must be extremely careful while providing your credit card details and other financial information online.
  • With hackers and spammers creating unwanted trouble online. our personal details and passwords must not be disclosed to any unknown source.
  • It would be best to shop from a reputed store so that we are assured of quality and also safe from frauds.

A little care and alertness is all that we need to make this a wonderful experience.

Advantages:

There are many advantages of the cashless commerce as an online shopping. Some of them is listed as below:

1. Built in security features to reduce risk of theft or bullying that can happen with cash.

2. World wide shopping facility and Reliable products for effort able efforts.

3. Can easily modify the quantity or he can delete the items he has purchased just by mentioning.

4.There is an advantage is that first we can view all the products list after that only we want to register and buy Otherwise simply we can exit from that site.

5. With the internet only we can now pick and choose as to any part of the world we would like to shop in. And all this without stepping out of our own home.

6. The online stores offer a huge discount on products and provide incentives like discount coupons which makes it both a great time and money saver. Comparing prices and choosing products of the best quality was never easier.

Advantages From The View Of Administrator:

Administrator is the owner of the shop.

1. The administrator can insert the new items in his shop i.e., in cashless commerce.

2. The administrator can delete the items from his shop.

3. Finally the administrator can view all the details of his shop i.e., all the updates, deletions and the customers who visited their shop.

Limitations:

The project ONLINE SHOPPING is a full fledged one when considered buying of the five types of items FLOWERS, TOYS AND GIFT ARTICLES, ELECTRONICS, and JEWELLERY. But if we consider the global shopping we will have some limitations.

Some of the limitations of the project are:

1. Concerning ourselves only to few items.

2. Only the registered people can purchase the products.

3. It is a burden process for the customer to register.

4. If the existed customer fails to remember his ID then he has to

Register again.

Future Scope Of The Cashless Commerce:

In this project online shopping, we included only five of the gadgets, thus limiting ourselves to only a few classes. But if we include other things like Microwave Ovens, Clothes, Electronic Gas stoves etc. and some more articles like Telephones and telephone related instruments, Power PC's like computers LCD's, Air conditioners then the project becomes a complete one in the case of shopping Electronic and Electrical goods thus making a customer more free in all aspects. When1234a customer enters into our site he must feel satisfied. So it is better to introduce all other gadgets as mentioned above.

References:

Books:

1. Electronic business & commerce By Michael Chesher, Rukesh Kaura, Peter Linton

2. The cashless society By Robert A. Hendrickson

3. Electronic commerce: a manager's guide By Ravi Kalakota, Andrew B. Whinston

4. Handbook on electronic commerce By Michael Shaw, Robert Blanning, Troy Strader, Andrew Whinston

Websites:

1. www.ecommercetimes.com

2. www.ecommerce-journal.com

3. www.claritycommerce.com

4. http://www.documetric.com/