Evaluate the operation and strategic applications of the major electronic commerce mechanisms to process business transactions.

Assignment 2: setting strategy and structure for your organization

The evaluation of the operation and strategic applications of the major electronic commerce mechanisms to process business transactions requires an understanding of how each e-commerce mechanism works, its associated costs, and its potential benefits. Generally speaking, these mechanisms include payment gateways, digital wallets, mobile payments and cryptocurrency transactions. Depending on the context in which they are used these mechanisms can be used to facilitate purchases or transfers securely over the internet with greater speed and efficiency than traditional methods. Additionally, they offer businesses a number of strategic advantages such as increased customer engagement, improved payment security and reduced transaction costs.