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The influence of FinTech technologies in the field of online payments with regard to the business model of e-commerce businesses

Wierik, S.L. te (2019) The influence of FinTech technologies in the field of online payments with regard to the business model of e-commerce businesses.

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Abstract:Since the beginning of e-commerce in 1995, which “describes the process of buying, selling, transferring, serving, or exchanging products, services, or information via computer networks, including the Internet” (Abu-Shanab, 2015), it has globally grown from a standing start to €1.96 billion business-to-consumer and a €14.2 trillion business-to-business juggernaut, bringing about enormous change in business firms, markets, and consumer behaviour. But also FinTech, a new financial industry that applies technology to improve financial activities (Schueffel, 2016), is a rapid growing industry: according to an industry report, the value of investments in Fintech firms have grown by 75% in 2015 to USD 22.3 billion compared to the previous year (Skan, Dickerson, & Gagliardi, 2016). Logically, FinTech technologies also emerge for e-commerce businesses to optimize the payment process. Because of the importance of e-commerce in the current world and the growing impact of FinTech, and the absence of literature regarding the implications of fintech payment technologies on the business model of e-commerce companies, this paper examined what the implications are of various payment solutions to the business model of e-commerce businesses, where especially the payment part of the business model will be examined and an emphasis on the value proposition will be put.
Item Type:Essay (Bachelor)
Clients:
Azerty, Raalte, the Netherlands
MyChoice2Pay, Madrid, Spain
Aplazame, Madrid, Spain
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:International Business Administration BSc (50952)
Keywords:FinTech, E-commerce, Webshop, Business model, Value proposition, Online payments
Link to this item:http://purl.utwente.nl/essays/78525
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