A review on a post on e-tailing from My E-Commerce blog.

Recently I have review on a post on e-Tailing from My E-Commerce blog, http://ecommerze.blogspot.com/search/label/e-Tailing. Now I would like to share my opinion with you.

In my mind, the online sales goods consumers purchased should be something related to computer like hardware and software. I think most of the people will think so too. However, from the blog, I found that, there is a change in 2006 showing that consumers spent more on clothes rather than computers.

It is surprisingly for me to know that, the spending for apparel, accessories and footwear sales hit US$18.3 (RM64) billion as compare to US$17.2 (RM60) billion for computers. This result is reported by Shop.org. There is a different of US$1.1(RM4) billion. In my opinion, this is because after sales service is more important for computer compare to clothes. Consumers will prefer purchases computer in physical market rather than by online transaction. Besides, the quality of online product is suspicion. Computer is much more expensive compare to clothes. If there is default in online product and cannot be exchange, consumers would not like to buy things which are expensive.

The online travel expenses is US$73.4 billion of the online transactions, topping the e-tailing market. This shows that, many people spend on online traveling. In my opinion, this is because online traveling may have discount compare to physical market. Traveling company try to avoid agent fees which need in physical market to reduce cost. This will bring more profit for the traveling company. For consumers, they also benefit from discount given online.

Credit Card debts: Causes and Prevention

Bankruptcy is a very real possibility for many people these days. Credit card debt is the one of the factor that cause most of the people suffered. It is because credit card is convenience to them buying without carry cash around. Many people lack the knowledge of how to handle credit and have attitudes that suggest that debt is acceptable. Other than that, Poor planning, overspending, lack of savings, high-interest loans also will lead to owing too much of credit card debt.

Following are 4 steps to prevent credit card debt.

Step 1: create a budget. A clear budget that includes all the monthly bill entertainment, food will prevent from over spending.

Step 2: maintain clear financial records and a regular payment schedule. When you pay your bills on time and you able to determine hoe much you have to spend for the month ahead.

Step 3: only use credit when you can pay it off within a few months. The longer it takes you to pay off the debt, the more interest that debt will incur and the more you will end up paying.

Step 4: Shred or tear up credit card applications that come to you in the mail. Just because you get the application doesn't mean you need or want the card. Destroying the application will prevent you from using it and protect you from potential identity thieves

Electronic Currency – e-gold

e-gold, operational since 1996, is an electronic currency issued by e-gold Ltd, a Nevis corporation. It is 100% backed by gold bullion, other e-metals also had issued, e-silver, e-platinum, and e-palladium is 100% backed by silver, platinum and palladium respectively.

e-gold is integrated into an account based payment system that empowers people to use gold as money. It is accounted by weight of metal, not any national currency unit. As weight units have a precise, invariable, internationally recognized definition, and have a long history of monetary use around the world. Thus, e-gold is ideally suited for international transactions. Nowadays, e-gold is used in e-commerce, business-to-business payments, person-to-person payments, payroll, bill payments, charitable donations and other aspects.

There are some benefits for using e-gold. It is low cost of transaction fee on all transactions between e-gold customers, which the maximum fee for receiving payment is 50 cents. It costs nothing to open an e-gold account and there is no minimum balance requirement.
e-gold is borderless and it may be Spent to any other e-gold account anywhere in the world via the e-gold shopping cart interface, the e-gold Account Manager, or web enabled mobile phone.
e-gold payments clear instantaneously with no chargeback risk, no matter how large the payment or how far apart the Spender and Recipient. In addition, e-gold is 100% backed by gold bullion, it minimizes exchange risk and make the payments more safety and convenient.

There also has extraordinary governance and security. All transactions are on-line with access requiring account number, passphrase, Turing number, and IP address confirmation. Transactions also settled immediately, records are maintained on dedicted servers, data integrity is highly controlled, and all hardware and software has a strong backup and continuity program.

For more detailed information about e-gold, please visit http://www.e-gold.com/

Mobile Payment System in Malaysia: Its Potentials and Customers' Adoption Strategies

Mobile payment is a point-of-sale payment made through a mobile device. Mobile payment system characterized themselves by their flexibility of application possibilities (mobile commerce), high convenience (wallet function), and high diversity with account methods, access methods, and so forth.

With 25 million mobile phone subscribers in Malaysia, there are huge opportunities to speed the development of mobile payment as well as to provide an effective method of delivering financial services even in the remote areas. In recent years, various mobile banking and payment initiatives have been launched. This however, has yet to achieve widespread acceptance. To date, there are only 1.8% of the 25 million subscribed for mobile payment service in the country. There is, therefore, a significant untapped and potentially lucrative market for mobile payment and banking services.

Mobile Money (MM Wallet) is a PIN-based Mobile Payment Solution designed by Mobile Money International Sdn Bhd to address the limitations created by cash, cheques and credit cards. It's money in your mobile. You can make payment to anyone, at anytime, from anywhere by using a mobile phone coupled with a 6-digit security PIN via SMS. It is the next generation of money. It's like what mobile phone brings to the world of fixed line phone. It is safe, secure and convenient.

Finally, to encourage consumers to adopt the m-payment, it is hoped that the market participants will be able to offer new mobile payment services that opens up new markets for mobile service providers and payment operators, offer the convenience at reasonable costs and thus deliver the cost savings and efficiency gains that consumers seek. In addition, for mobile payment system to succeed, it is needed to strengthen consumer confidence in the safety, security and reliability of mobile networks as a means for consumers to access financial services.