Introducing an emicropayment method using the internet Essay

Introducing an emicropayment method using the internet - Essay Example Using credit cards is the most common way to purchase items online. When a buyer tries to buy an inexpensive item through a credit card, the authentication and verification process of user account is often quite cumbersome and in most cases is infeasible and unpractical. For merchant selling inexpensive items, finds its profits disappear due to the high credit card fees and associated costs (Geer, 2004). Therefore the tools used for online payments are one of the biggest factors in deciding the fate of e-micropayments. Since the sales are often low and the profit margins thin, the sellers don't feel comfortable in investing into e-micropayment technologies and goods. They feel that the risk taken to sell inexpensive goods is not worthwhile. Therefore the supply of inexpensive goods and seller's attitude is another factor deciding the existence of e-micropayments. (Smith, 2003) Since its start, e-micropayments haven't shown the intensity and promise that was expected. Due to not enough successful inexpensive products in the market (compared to more expensive items) the demand for keeping inexpensive assortments in the inventory is low (Geer, 2004). Therefore the historic trends, not enough success stories and the hype in the market are other factors that need to be considered to make e-micropayments method a success. For all online transactions, a buyer or a merchant needs to have a secure and reliable e-micropayment technology (Geer, 2004). Since critical personal information and credit card (account) information is given over the net, a secure (usually SSL) and safe technology must be in place. Without such a technology, the method can never be a success. To run e-micropayments methods, dependant technology like computers, servers, internet etc. should be reliable (Geer, 2004). If the internet link is unreliable, or the merchant's website has a high downtime, the customers would simply move to a different merchant which provides the same products and services but which does not offer e-micropayment technology. Another issue is the cost of the e-micropayment technology and how much of the commission is charged from the merchant. If this cost is high, the merchants would not agree to have this system and would rather prefer a normal credit card payment option. (Electronic Payment Systems, 2006) As we have seen from the discussion above, there are a lot of stakeholders involved in the entire process which complicates the matters. Although e-micropayments are convenient and needful, their lack of practicality at the moment has let it down. Building a secure, reliable and inexpensive e-micropayment solution is required at a time where PayPal and credit cards have taken over the sale of expensive items. Works Cited 1. Electronic Payment Systems. (2006). Retrieved February 8, 2008, from Prentice Hall: www.c5c6.com/upfile/down.phpfilename=908a738581.ppt 2. Geer, D. (2004). E-Micropayments Sweat the Small Stuff. Retrieved Februa

The Rule of Law Essay Example | Topics and Well Written Essays - 1250 words

The Rule of Law - Essay Example Nevertheless, under all contexts that the concept of the Rule of Law should be applied, it anticipates two major aspects; fairness and equality. The meaning of the Rule of Law can be broken down into different contexts, where the first two contexts adheres to the proposition by Webley & Samuels, 2012, that â€Å"The rule of law is a doctrine†, while the third context in which the Rule of Law can derive its meaning, is pitched on the other proposition by Webley & Samuels, 2012, that â€Å"The rule of law is a theory†. Thus, the Rule of Law can be applied in the first context to mean â€Å"according to the law†. Under this context, the Rule of Law is then applied to mean that no individual, regardless of the social status or the position of power they hold in the society, can be subject to a form of punishment that is not in accordance with laws that are well established and clearly and procedurally defined3. This context of the application of the rule of law there fore means that any criminal charges leveled against an entity, be it an individual, a group or an organization must be in line with laws that are well-established and which are clearly understood by the entity, and whose procedure is well known. Therefore, this context of the law anticipates the application of the law to be aligned with the existing doctrines. This prevents an individual or an entity from being punished for any violation that is not punishable by the law4. Relevant case: Papachristou v. City of Jacksonville, 405 U.S. 156, 92 S. Ct. 839, 31 L. Ed. 2d 110 [1972] The Papachristou v. Jacksonville is case in relation to a vagrancy ordinance enacted by the city of Jacksonville in Florida State, where the law prohibited a large form of freelance activities, which included strolling, wandering and moving from place to place, without any lawful intent or object5. The defendant, Papachristou, was among eight other individuals that were arrested and charged with vagrancy in a court of law in Jacksonville, city, for disorderly loitering. Upon an appeal in the United States Supreme Court, the court declared that the Jacksonville ordinance was largely vague constitutionally, since the ordinance did not create any distinction between the illegal and the innocent activities, thus could end-up criminalizing innocent movement activities such as walking at night or habitual movement which had no visible intent5. This vagueness granted the police arbitrary powers to determine which activities they would interpret as lawful, and which ones to declare innocent, following the lack of well-established laws, which are clearly understood by the entity, and whose procedure is well known5. The Supreme Court therefore held that the defendant would not be criminally liable, under such vague law. The second context under which the rule of law can be confidently applied is to mean; â€Å"rule under the law†6. Here, the concept of the Rule of Law would therefore mean that no one is above the law, and thus no one has the freedom to apply law arbitrarily, even when such an entity is the one formulating such laws. Therefore, the second context of the rule of law anticipates that all individuals and entities will be subjected to equal treatment by the law, and thus no one can be favored, and no one can be prejudiced by the same law, regardless of