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ed Clearing House (ACH) (US focus) ? Electronic work that connects all . financial institutions for the purpose of making funds transfers ? A privately operated financial intermediary that tracks and transfer between financial institutions Five parties involved in epayments 6 ? Independence ? Interoperability and portability ? Security ? Anonymity ? Divisibility ? Ease of use ? Transaction fees ? Regulations Characteristics of successful epayment methods (Turban et al. 2023, pps. 550551) 7 B2C: Electronic Payment Methods ? Electronic payment cards (credit, debit, charge) ? Ewallets (or epurses) Digital IDs ? Smart cards ? Electronic cash other micropayment methods ? Storedvalue card payments ? Persontoperson payment methods ? ELoyalty cards Reward programs gift cards ? Wireless/Mobile Payments 8 How an Online Credit Transaction Works (Laudon Traver 2023) 9 Digital Wallet for storing personal information: Seeks to emulate the functionality of traditional wallet Google ChechoutNow Google Wallet 10 Smart Cards ? An electronic card containing an embedded microchip that enables predefined operations or the addition, deletion, or manipulation of information on the card ? Can hold 100 times of more data than magic strips, ., multiple cards accounts, health insurance, personal identification, transportation, loyalty programs information. 11 Digitcash: secure and anonymous purchase of lowpriced items (Laudon Traver 2023) 12 Examples of Second Generation Digital Cash: Micropayment Syste