E-business will grow continually and globalize more in the future. Even though there are some disadvantages with e-business, but with advanced technology and unique human ideas, E-business competition will spread worldwide. Therefore globalization will keep growing and improving.
Many people are concerned about their safety when giving their credit card number to an online company. Even people feel more risk when purchasing a product from foreign countries. However, PayPal provides solutions for this problem for the consumer, for a new way of payment.
PayPal is a global e-commerce business allowing payments and money transfers to be made through the Internet. [1] e-Bay acquired PayPal in 2002, PayPal is the faster, safer way to pay and get paid online, via a mobile device and in store. PayPal’s service gives people simpler ways to send money without sharing financial information, and with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing. [2] PayPal use encryption software to allow people to make financial transfers between computers. [3]
PayPal does like intermediary so people can trusts and feel less risk instead of providing credit card number. Not only that they can adjust the currency, PayPal’s had Multiple Currencies featured. [4] 128 million active accounts in 193 markets and 25currencies around the world, PayPal enables global commerce, processing more than With 7.6 million payments every day. [5] PayPal provides a huge difference especially consumer to consumer business such as E-bay.
When people go to the mall, you will always find USA designer’s brands such as Coach and Tiffany. These USA designer brands are very popular in some foreign country. In USA, people are able to purchase a Coach bag at $250.00 but in some foreign countries such as Japan, the price can be double or even triple the actual price because they don’t have many retail stores. When Japanese travelers come to USA and go to outlet such as wood berry common or just a local shopping mall, people surprise about the price of the USA designer brands.
When I researched about E-business, especially consumer to consumer, I found an interesting company in Japan. This company does an online Resale business . This company has 30000 sellers from 70 nations and handles 4000 designers’ brands. Sellers don’t have to be a professional seller; they can be a student or anybody who like to have a side business.
This company researched that some designers brand are less expensive in some foreign countries compared with products selling in Japan. Also the company system is very unique because the seller does not have to carry an actual product which means no inventory at all. Sellers just listed the picture of the product on the company web site and explain about the products from a foreign country using a computer . After that a seller can just wait until a buyer make bid. When a customer bids on a product, the seller can just go to a store and buy the product and ship it to the customer. Buyers can also request a product to the sellers. Unlike e-bay and amazon.com, advantage of this system is that seller does not carry inventory. So anybody who is interested in this business or want learn about the business can do this without spending fund. I heard about this company about 3 years ago and my friend has been doing as a seller for several years.
This company just listed on the Tokyo Stock Exchange. I am very interesting about the future of this company’s business style and I will keep a close eye on this company’s growth.
Human wisdom and unique ideas always changes the business style. People find solutions and take action of the idea quickly; there is a big chance for their business to succeed. In my conclusion, technology has been improving and developing rapidly. Using advanced technology and unique strategies, globalization of business will expanded more and more in future.
[1] http://en.wikipedia.org/wiki/PayPal
[2] https://www.paypal-media.com/about
[3] http://money.howstuffworks.com/paypal.htm
[4] https://www.paypal.com/cgi-bin/webscr?cmd=p/sell/mc/mc_intro-outside
[5] https://www.paypal-media.com/about
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