Electronic Payment Systems: Bachu Vinay Chaithanya (1421408)
Electronic Payment Systems: Bachu Vinay Chaithanya (1421408)
Electronic Payment Systems: Bachu Vinay Chaithanya (1421408)
A system that allows a person to pay for goods or services by transmitting a number from one computer to another.
Like the serial numbers on real currency notes, the E-cash numbers are unique.
E-Wallet:
The E-wallet is another payment scheme that operates like a carrier of e-cash and other information.
The aim is to give shoppers a single, simple, and secure way of carrying currency electronically.
A smart card, is any pocket-sized card with embedded integrated circuits which can process data.
This implies that it can receive input which is processed and delivered as an output.
Credit Card :
Debit Card :
No Security Model
verify
Online credit
Customer’s card
bank authorize processors
Encryption & credit cards
Cons
You have to pay a processing fee to accept plastic and some other electronic payments.
If you use a traditional physical credit card terminal, monthly or annual fees might apply.
Some payment processing services lock you into contracts that are costly to terminate early.
To accept credit cards you usually need a merchant account, which is a bank account where payments
are deposited. Many electronic payment systems include one as a built-in feature. Note that you don’t
need a merchant account if you use a third-party processor such as PayPal.