Electronic wallet

Published: 16 June 1999 y., Wednesday
Software companies and retail interests announced an electronic commerce standard that will allow customers to shop with one-click across a variety of Web sites. The format, known as Electronic Commerce Modeling Language (ECML), looks to store customers_ name, address and credit card number -- in a secure environment on the Web to be utilized for later purchases. Computer companies signing onto the standard include IBM, Compaq, Microsoft and Sun Microsystems, along with online service provider AOL. In the retail area, MasterCard, Visa and American Express all announced support for ECML, along with such online merchants as Dell Computer, Beyond.com and Healthshop.com. The firms are hoping to combat a common complaint among those who buy products and services over the Internet. Currently, a customer will fill in the necessary information to buy a product from one site. If they wish to purchase something from another site, they need to fill in the same information all over again. According to a study by Jupiter Communications, 27 percent of online buyers give up on orders before completion because of complex or redundant information procedures. The companies claimed ECML would work like an "electronic wallet." Once a consumer has filled out the information, it will automatically be used to complete the purchase applications of participating sites. ECML is publicly available and can be used with the various privacy and security applications commonly used by retailers, including both SSL and SET security methods. Software companies such as Microsoft said they would begin integrating ECML into their offerings. The technology will probably be offered to consumers in various ways, either as a stand-alone application or built into a browser. The next challenge for the standard_s proponents will be to increase the number of retailers who accept ECML from the relative handful already signed on. However, they may find a receptive retail climate. According to the same Jupiter survey, 76 percent of merchants surveyed said they_d be open to signing onto an "electronic wallet" type of enterprise like ECML.
Šaltinis: CNNfn
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

NASA to merge media archives

Space officials want proposals for a NASA archiving system that would create a one-stop multimedia source for the public more »

Google Focuses Local Ad Targeting

Search giant Google will offer its advertisers the chance to more tightly target the geographical areas where their ads will be seen more »

'Linspiration' Hits Lindows

Lindows executives have rolled out a new moniker for its desktop Linux software and the name is...Linspire more »

Spam reaches new high in March

More than one million junk emails sent on one day alone more »

Internet nonprofit meets with U.N.

U.S. company controls domain names; security, governing discussed more »

ITT fashion spring “CeBIT 2004”

18th world’s largest information technologies’ and telecommunications’ exhibition “CeBIT 2004”, which takes place in Hanover (Germany) annually, has already ended. more »

Foreign fraud hits U.S. e-commerce firms hard

Top offending countries: Yugoslavia, Nigeria, Romania more »

'Buffalo Spammer' convicted

A man accused of using EarthLink Inc. e-mail accounts to release a flood of unsolicited commercial ("spam") e-mail on the Internet has been convicted on charges of identity theft and falsifying business records more »

Google Gets E-Mail

Search player Google is getting into the e-mail game more »

New eMail Tales in Microsoft's Minn. Case

Microsoft officials sought to dissuade Intel from investing in handwriting software startup GO Corporation in 1990, according to the latest round of e-mail evidence more »