1. On the Web, the race for a better wallet
- Author
-
Weber, Thomas E.
- Subjects
Online shopping -- Product development ,Online services -- Product development ,Electronic commerce ,Internet/Web technology ,Business ,Business, general - Abstract
Electronic wallets for online shopping have drawn the attention of Web heavyweights, who seek to streamline the process and strengthen their cyberspace position. These wallets allow shoppers to save time and keystrokes by clicking on a target that contains identification, credit cards and perhaps address books. Online experts claim that the current practice of entering personal information may be costing the lucrative industry millions of dollars. America Online, Yahoo and Excite are touting recently-developed electronic wallets that connect to all computers. Wallet providers also are racing to attract companies that already recognize the opportunity to study customer tendencies. Questions also are arising over security and privacy, as hackers could gain unauthorized access to centralized personal information. Electronic wallets gained momentum in 1998, when online shopping gained popularity. A growing number of retailers are introducing one-click systems limited to their stores.
- Published
- 1998