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Addison Goro Electronic commerce, defined as the process of buying, selling, or exchanging products, services, and information over the Internet, has become a key aspect of modern business. Initially, electronic commerce was characterized by the use of Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT) in the 1970s. Credit cards, ATMs, and telephone banking became widespread in the 1980s, and the Internet boom of the late 1990s and early 2000s transformed the way businesses and consumers transact online. The e-commerce landscape has evolved significantly in Ghana. However, the sector still faces challenges including poor website design, limited browser compatibility,…
You have a lot of choices to make when starting a business. Outside of the product you choose to sell or your marketing strategy, one of your biggest decisions is what business model to pursue. Ahead, get a high-level breakdown of 14 major business model choices so you can make the best decisions right from the beginning. It’s important to understand each of these methods in order to make the right choice for your small business. There are pros and cons to each business model and, depending on your product, market, and cost structure, one may be more suitable for…
You have a lot of choices to make when starting a business. Outside of the product you choose to sell or your marketing strategy, one of your biggest decisions is what business model to pursue. Ahead, get a high-level breakdown of 14 major business model choices so you can make the best decisions right from the beginning. It’s important to understand each of these methods in order to make the right choice for your small business. There are pros and cons to each business model and, depending on your product, market, and cost structure, one may be more suitable for…
The European Union recently introduced the AI Act, a new governance framework that requires organizations to be more transparent about the training data of their AI systems. If enacted, this legislation could undermine the defenses that many in Silicon Valley have built against such detailed scrutiny of the AI development and deployment process. Since the public release of ChatGPT from Microsoft-backed OpenAI 18 months ago, interest in and investment in generative AI technology has grown significantly. These applications, which can write text, create images, and produce audio content at record speed, have garnered considerable attention. But the increase in AI…
You have a lot of choices to make when starting a business. Outside of the product you choose to sell or your marketing strategy, one of your biggest decisions is what business model to pursue. Ahead, get a high-level breakdown of 14 major business model choices so you can make the best decisions right from the beginning. It’s important to understand each of these methods in order to make the right choice for your small business. There are pros and cons to each business model and, depending on your product, market, and cost structure, one may be more suitable for…
You have a lot of choices to make when starting a business. Outside of the product you choose to sell or your marketing strategy, one of your biggest decisions is what business model to pursue. Ahead, get a high-level breakdown of 14 major business model choices so you can make the best decisions right from the beginning. It’s important to understand each of these methods in order to make the right choice for your small business. There are pros and cons to each business model and, depending on your product, market, and cost structure, one may be more suitable for…
GENEVA — Saudi Arabia’s Minister of Commerce and Chairman of the Board of Directors of the National Competitiveness Centre (NCC), Dr Majid Al Qasabi, attended the 60th anniversary celebrations of the United Nations Organisation for Trade and Development (UNCTAD) in Geneva.The event, themed “Charting new development paths in a changing world”, was attended by UN Secretary-General António Guterres and representatives from over 120 countries, including world leaders and ministers.The sessions discussed key topics including industrial policies for trade and development, preparing for the future of the economy, development strategies amid the ongoing crisis, reshaping foreign direct investment and shaping a…
Visa revealed that its token helped businesses in Nigeria and around the world generate more than $40 billion in e-commerce revenue last year and reduced fraud losses by $650 million. Visa has issued more than 10 billion tokens since introducing the technology in 2014.Visa said that over the past decade, it has further strengthened security across its payments ecosystem through tokenization, a technology that replaces sensitive personal data with a cryptographic key that hides sensitive payment data. Tokenization can be built into any device, making digital payments more secure while also making them virtually useless to fraudsters. Currently, 29% of…
BAGUIO CITY (PIA) — The Anti-Red Tape Agency (ARTA) has commended the Baguio City local government for cutting excessive red tape and streamlining business license applications and renewals through the Electronic Business One-Stop Shop (eBOSS). ARTA Executive Director Ernesto Perez led the awarding of the certificate of commendation for the fully compliant electronic system of the Baguio City local government unit led by Mayor Benjamin Magalong in a simple ceremony held at the SP Hall of City Hall on Friday (June 7). In his keynote address, Perez commended the Baguio City LGU for its significant contributions and the mayor's leadership…
The e-commerce industry has grown at breakneck speed in recent years, and is expected to reach $8.1 trillion globally by 2026. People are changing the way they interact with brands and their shopping experiences, and they now expect brands to be where they are, rather than the other way around. At the same time, advancements in technology are giving Micro, Small and Medium Enterprises (MSMEs) the opportunity to further their business goals and scale faster with cutting-edge resources such as full-fledged e-commerce platforms. This has enabled them to compete with larger players in their verticals and provide personalized selling services…