Reference no: EM132993006

Lovely Hands (LH) is a jewelry store sells diamond rings, Rolex watches and precious stone ornaments. LH products start at $500 and go to hundreds of thousands. LH is planning embedding tiny RFID chips on inside of all jewelry items. At a size only slightly larger than the tip of a pencil, the chip can be placed on products in places where they are difficult to remove without proper tools. The chip is permanently installed for high-end products it would be removed after customer payment. It can contain store name and address and tracking software that can be remotely triggered if the item is stolen. At time of purchase, store equipment will read the chip, match the information to the customer invoice, and transfer to the chip the customers information. Required: Describe five different types of electronic payments that LH could accept. Assume that LH accepts B2B e-payments as well.