As the information technology is rapidly developed, an international trade method is being changed.
Electronic trade not only causes to change the traditional trade and the commercial practices, but also causes to big changes in saving time, cutting c...
As the information technology is rapidly developed, an international trade method is being changed.
Electronic trade not only causes to change the traditional trade and the commercial practices, but also causes to big changes in saving time, cutting cost and abroad small and medium size businesses by reducing the intermediate courses.
Traditionally international payment system such as letter of credits, documentary collections and remittance operated as a popular and important method of payment
Now, information technology has made it possible to pay for the sale of goods and service over the internet. In international trade, there are service providers to settle payment electronically through the Internet.
Global electronic trade payment systems such as BOLERO, TradeCard, Identrus, BeXcom etc. are common means of trade payment. The systems are B2B e-commerce infrastructure that enables buyers and sellers to conduct and settle electronic trade securely over the Internet.
The goal of electronic trade payment systems is to provide a secure, reliable, cost-effective and user-friendly solution for conducting and settling electronic trade.
However, in order for these predictions to be realized, several prerequisites have to be satisfied, for instance conflicting viewpoints between users and suppliers, relating to technology such as standardization of the system, security of data, authentication, payment, and relating to legal system such as legalization of the related laws and establishment of network.
Nevertheless I think those problems are solved step by step and electronic trade payment systems are expected to contribute greatly to activate the electronic trade.