Novel and comprehensive e-payment model with a higher end user trust level

Abstract

Easy and mobile accessibility of Internet using mobile devices have brought a revolution in the global ICT sector. Noticing the fact, different business organizations have focused on creating new business opportunities through Internet. E-commerce and online shopping have become so popular that business professionals are now considering online marketing and advertising as their principle marketing strategy. But online procurements need to be paid either through cash on delivery or via some online payment systems (e.g., credit/debit cards). Unfortunately, both the processes have considerable uncertainty as involved parties are unknown to each other and any one of the parties has to trust the other party to complete the full shopping cycle. But, this sort of trust relationship is mostly absent in many countries where majority of the people belongs to the middle and lower income group of the society. So, in spite of having ample opportunities, online shopping has so far failed to gain acceptability among the people of middle and lower income groups of the society. Recent research works related to online marketing are so heavily focused on the security issues of online transaction that they ignored this uncertainty of online shopping. In this research work, an effort has been made to develop a novel comprehensive online payment model that ensures a higher level of trust from the end user's perspective. It has been tried to develop an online payment model where both buyer and seller can have control over the complete online buy-sell cycle. So that both buyer and seller can be in a comfort zone where they can have the confidence that buyer will receive the product that he paid for and seller will get the money for what he sold. It has also been tried to address few practical cases that need to be considered during design of the model. Later part of the work, a demonstration has been prepared to get an familiarity with the practical implementation possibility of the model and its impact on the online commercial activities done by the end user.