Question

E-commerce in Saudi Arabia has received a boost following the launch of several digital payment platforms in the last few years, a development that should support the growing number of online shoppers and contribute to government efforts to diversify the economy. Saudi Arabia is one of the fastest-growing markets in the Middle East for electronic payments, investments in the e-commerce market are set to rise under the government’s Vision 2030 strategy and National Transformation Programe (NTP), which both aim to improve communications connectivity and data transmission throughout the country as part of the broader diversification drive.
Answer the following questions:
1. What are the different methods of e-payment systems used in e-commerce platforms in Saudi Arabia?
2. Discuss the benefits of the multiple types of e-payment system to the customers?
3. Discuss the benefits of the multiple types of e-payment system to the e-commerce business?
4. What are some factors affecting the e-commerce business when choosing the e-payment gateways?
5. Explain some issues related to the e-payment system in the e-commerce platforms?

Answer 1

Answer -1

Payment Gateway-In business payments made through online plate form is known as payment gateway.A payment gateways is used in e-commerce for accepting payment through credit card,debit card. Saudi Arbia one of the most emerging economy in middle east.Due to that reason online transaction now a days become more popular. There are many different methods of e-payment systems used in e-commerce platforms in Saudi Arabia which is given bellow.
1) PayFort-It is one of the most popular e-payment method.It has low set up charges and setup price is based on business size.
2)CashU-It provide services at very lower cast.In CashU the tranastion cast is depend on the volume os sales.It was
established in 2002 and offers e-payment in 13 different currencies.
3)PayTab-It It has capacity to make e-payment in 168 currencies.It can be integrated by different ways such as plug-in
4)2checkout-It is USA based. It has many e-payment modes.It is one of the most broad e-payment in the world.
5)Hyperpay-It is widely used in banks.

Answer 2-

Benefits of the multiple types of e-payment system to the customers- There are many benefits of usin multiple types of e-payment system to the customers

1)Effective and efficient transactions for customer.
2)Convenience for customer for instance customer can pay by just clicking on their mobile.
3) Customer have payment flexibilty.
4) Secure payment by generating one time password.

Answer-3
Benefits of the multiple types of e-payment system to the e-commerce business-There are many benefits of
using multiple types of e-payment system to the e-commerce business.
1) Increased Sales for e-commerce business.
2) Getting instant Payment
3) Increased credibility for Merchants
4) Deals can be final in last minute
5) It is able to influences buyers
6) Increased competitiveness

Answer -4
Factors affecting the e-commerce business when choosing the e-payment gateways- There many factors which can affect e-commerce business by choosing the e-payment gateways.
1) Can e-payment gateway support multiple currencies.
2) Customer care services
3) Can e-commerce support different gateways
4)e-payment gateways provide security for customers
5) Selecting of right product

Answer 5-
Issues related to the e-payment system in the e-commerce platforms- There many issues which are related to e-payment system in the e-commerce platforms
1) Fraud to customers
2)Dearth of security
3) Absence of awareness
4) Rural area penetration
5) Chargebacks for customers
6) International e-payment