The Ecuadoran unit of Spain's Telefonica has the go-ahead from Ecuador's central bank to offer mobile e-money services. Movistar users will be able to make purchases through their cellphones using virtual accounts held at the central bank.
As school districts nationwide increasingly go paperless, that means a move away from accepting cash or paper checks for payments for everything from lunches to field trips and course fees. However, this article presents several questions that administrators should ask before moving to an e-payment or electronic payment portal system, such as how to select a vendor, whether to consider PayPal and whether there also should be a system for paying vendors electronically.
Most companies employ a manual, extended payment system that slows cash flow and, eventually, hurts supplier-purchaser relationships, writes Bob Cohen, Basware's vice president, North America. Companies can speed up their invoice transmission time by using a solution that combines e-invoice and e-payment, which increases traceability of invoices, prevents further payment problems and creates a "a win-win situation" for both parties, he writes. "With cash flowing more freely across the supply chain, buyers and suppliers can focus on what matters most: building their businesses and furthering their relationship in mutually beneficial ways," Cohen writes.
Alipay is already the leading online payment service in China, but the company's president said he expects it to surpass eBay's PayPal as the top e-payment service in the world in the next two years. "I think by 2011 there is a possibility of that happening," said Alipay President Polo Shao.