ELECTRONIC COMMERCE Lê Tấn Lực_1712101 Trương Đình Lâu_1711912 Phạm Tuấn Khôi_1711822 Phạm Văn Đô_1711035 Topic 5: Electronic Payment and Wallet VNPay What is E-Payment? E-Payment An electronic payment (e-payment), in short, can be simply defined as paying for goods or services on the internet ● Development path ● E-Payment method Development path - - Electronic payment system has been thriving in the past 10 years due to the explosion of online shopping, but the idea of ​ it has been around for a long time Looking back on the development of the electronic payment system, we can point out its milestones Development path It all started with the World Wide Web - - If there were no World Wide Web, there wouldn’t be online stores and e-services The history of the internet starts in 1969 with ARPANET, the military network which was intended to be a communication network in the Vietnam War era But the main turning point happened in 1989 Development path The beginning of e-payment systems - - - In 1994 Stanford Federal Credit Union was established – the first financial institution which offered online internet banking services to all of its members In the beginning, the main players on the e-payment market were Millicent (founded in 1995), ECash or CyberCoin (both in 1996) Moreover, in 1994, Amazon is founded (one of the e-commerce pioneers) and Pizza Hut starts accepting online food Development path Evolution of payment possibilities - - Most of the modern payment systems are easy to use with the payment process minimized to just a few simple steps Every year there are new solutions in the e-payments world that stimulate ecommerce growth Development path - - Time for game changers The online and offline payments are interpenetrating and the distinction between these two becomes more and more blurred each year A growing number of online buyers is noticeable, so we’re sure enough that smart technologies will be becoming more popular than conventional banking Development path Social networks and new technologies - It is also of the consistent popularity of social networks and online gaming Furthermore, mobile technologies are developing fast and customers no longer need PC’s or laptops to buy online The future of e-payment depends on the development of new technologies and the role of the internet in our life