The aim of this mini-research project is to promote greater understanding of certain elements of e-Commerce through the study of an e-Commerce transaction broker. The strengths and weaknessed of thie particular e-Commerce transaction broker will be highlighted in thie report along with its payment system.
A transaction broker is an intermediary who acts as a middleman, merely providing the business link between a buyer and a host of sellers, and earning a commission for each successful transaction. Transaction brokers do not own the end products or services transacted. They are also not wholesalers or retailers.
The Goal of Transaction Broker-Ensure that customer perceive some added advantage from conducting transaction via the site. It provides information delivery related to the transactions and reduces information asymmetry where consumers.
Website of study
Priceline is an Internet-based travel service that provides full suite of travel products and services, namely air tickets, accomodation, car rental, combination of air tickets plus accomodation and travel insurance.
Priceline offers a unique "Name Your Own Price" travel services, while also marketing fixed-price, retail travel products through its "Make Your Own Choice" model.
This website was launched in April 1998 and since its inception has sold more than 20 million travel products, providing travellers with an easy way to save on airline tickets and hotel rooms.
Hutchison-Priceline's travel services are currently available to travellers in Hong Kong, Singapore and Taiwan. Customers in the United States can visit http://www.priceline.com/ and http://www.priceline.co.uk/ for customers from the United Kingdom.
Design
Simple one-click icons for user to navigate through the site.
A click on the icon in the shape of an aeroplane will direct user to search for air tickets and an additional feature; specific airline(s) in allowing user to narrow their search.
Payment Systems
Payments of services can be paid by Visa, Mastercard and American Express, all payments are powered by WorldPay.
WorldPay allow for safe, secure and fast transactions.
Strengths
Priceline is able to provide coverage for a comfortable and safe trip to any destination at low cost. It is able to provide services to customers from many countries and to ensure hassle free payment method. It is innovative in pioneering the idea of "Name Your Own Price" and bidding opportunities to allow customers to clinch the best deal in town.
Weaknesses
Priceline's design is too simplistic and lack interactive media such as videos, photos of selected tours and short footage of destinations available.
Security
Trustworthy site whereby it is a member of Asia-Pacific Trademark Alliance, National Association of Travel Agents Singapore, entrust.net and International Air Transport Association.
The verification report of Hutchison-Priceline (HK) Limited is a click away from the icon ( trust.sg ); report includes the address of the company and other relevant information needed to answer all queries or doubts encountered by any user.
Priceline is able to provide coverage for a comfortable and safe trip to any destination at low cost. It is able to provide services to customers from many countries and to ensure hassle free payment method. It is innovative in pioneering the idea of "Name Your Own Price" and bidding opportunities to allow customers to clinch the best deal in town.
Weaknesses
Priceline's design is too simplistic and lack interactive media such as videos, photos of selected tours and short footage of destinations available.
Security
Trustworthy site whereby it is a member of Asia-Pacific Trademark Alliance, National Association of Travel Agents Singapore, entrust.net and International Air Transport Association.
The verification report of Hutchison-Priceline (HK) Limited is a click away from the icon ( trust.sg ); report includes the address of the company and other relevant information needed to answer all queries or doubts encountered by any user.
