• Like
Electronic payment system
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

Electronic payment system

  • 31,807 views
Published

 

Published in Business , Economy & Finance
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
  • great
    Are you sure you want to
    Your message goes here
  • very hepfull
    Are you sure you want to
    Your message goes here
  • Good one
    Are you sure you want to
    Your message goes here
  • i want to buy payment gate way
    contact me at 08878261114
    Are you sure you want to
    Your message goes here
  • Hello

    sir

    i want to become reseller in India and can good business for payment gateway ,kindly give us call 008800415562

    Kind Regards
    Rajeev Vishwakarma
    Rs Compuweb Sol
    008800415562
    Are you sure you want to
    Your message goes here
No Downloads

Views

Total Views
31,807
On SlideShare
0
From Embeds
0
Number of Embeds
0

Actions

Shares
Downloads
1,716
Comments
5
Likes
19

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. Electronic Payment
  • 2. OBJECTIVES
    • To understand the concept of Electronic Payment System and its security services.
    • 3. To bring out solution in the form of applications to uproot Electronic Payment.
    • 4. To understand working of various Electronic Payment System based applications.
  • What Electronic Payment system is?
    Electronic Payment is a financial exchange that takes place online between buyers and sellers. The content of this exchange is usually some form of digital financial instrument (such as encrypted credit card numbers, electronic cheques or digital cash) that is backed by a bank or an intermediary, or by a legal tender.
    Electronic payment system is a system which helps the customer or user to make online payment for their shopping.
  • 5. Requirements For E-payments
    The various factors that have lead the financial institutions to make use of electronic payments are:
    Decreasing technology cost:
    The technology used in the networks is decreasing day
    by day.
    Reduced operational and processing cost:
    Due to reduced technology cost the processing cost of
    various commerce activities becomes very less. A very
    simple reason to prove this is the fact that in electronic
    transactions we save both paper and time.
    Increasing online commerce:
  • 6. Some Examples Of EPS:-
    Online Reservation
    Online Bill Payment
    Online Order Placing
    (Nirulas)
    Online Ticket Booking
    ( Movie)
  • 7. Two Storage Methods
    • On-line
    • 8. Individual does not have possession personally of electronic cash
    • 9. Trusted third party, e.g. online bank, holds customers’ cash accounts
    • 10. Off-line
    • 11. Customer holds cash on smart card or software wallet
    • 12. Fraud and double spending require tamper-proof encryption
  • E- WALLETS
    E- CASH
    Types of EPS
    SMART CARDS
    CREDIT CARDS
  • 13. E-Cash
    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.
    This is issued by a bank and represents a specified sum of real money.
    It is anonymous and reusable.
  • 14. Electronic Cash Security
    Complex cryptographic algorithms prevent double spending
    Anonymity is preserved unless double spending is attempted
    Serial numbers can allow tracing to prevent money laundering
  • 15. E-Cash Processing
    Merchant
    Consumer buys e-cash from Bank
    Bank sends e-cash bits to consumer (after charging that amount plus fee)
    Consumer sends e-cash to merchant
    Merchant checks with Bank that e-cash is valid (check for forgery or fraud)
    Bank verifies that e-cash is valid
    Parties complete transaction
    5
    4
    Bank
    3
    2
    1
    Consumer
  • 16. E-Wallet
    • The E-wallet is another payment scheme that operates like a carrier of e-cash and other information.
    • 17. The aim is to give shoppers a single, simple, and secure way of carrying currency electronically.
    • 18. Trust is the basis of the e-wallet as a form of electronic payment.
  • Procedure for using an e-wallet
    Decide on an online site where you would like to shop.
    Download a wallet from the merchant’s website.
    Fill out personal information such as your credit card number, name, address and phone number, and where merchandise should be shipped.
    When you are ready to buy, click on the wallet button, the buying process is fully executed.
  • 19. Smart Cards
    • A smart card, is any pocket-sized card with embedded integrated circuits which can process data
    • 20. This implies that it can receive input which is processed and delivered as an output
  • Smart card Processing
  • 21. Smart Card Applications
    Ticketless travel
    Seoul bus system: 4M cards, 1B transactions since 1996
    Planned the SF Bay Area system
    Authentication, ID
    Medical records
    Ecash
    Store loyalty programs
    Personal profiles
    Government
    Licenses
    Mall parking
    . . .
  • 22. Credit cards
    • It is a Plastic Card having a Magnetic Number and code on it.
    • 23. It has Some fixed amount to spend.
    • 24. Customer has to repay the spend amount after sometime.
  • Processing a Credit cards payment
  • 25. Risk in using Credit cards
  • Secure Electronic Transaction
    (SET) Protocol
    Jointly designed by MasterCard and Visa with backing of Microsoft, Netscape, IBM, GTE, SAIC, and others
    Designed to provide security for card payments as they travel on the Internet
    Contrasted with Secure Socket Layers (SSL) protocol, SET validates consumers and merchants in addition to providing secure transmission
    SET specification
    Uses public key cryptography and digital certificates for validating both consumers and merchants
    Provides privacy, data integrity, user and merchant authentication, and consumer nonrepudiation
  • 28. The SET Protocol
  • 29. Security Requirements of EPS
    Integrity
    Privacy
    Safety
    Authentication
    Non-repudiation
  • 30. What Is Payment Gateways??
    • A payment gateway is an e-commerce application service provider service that authorizes payments for e-businesses, online Shopping, etc.
    • 31. Payment gateway protects credit cards details encrypting sensitive information, such as credit card numbers, to ensure that information passes securely between the customer and the merchant and also between merchant and payment processor.
  • How It works???....
  • 32. Payments In India
    • Going the e-way
  • e-PAYMENT SYSTEM IN INDIA
    • Ever-increasing technology changes.
    • 33. Growing Internet access and mobile subscriber base
    • 34. Rising consumer confidence.
    • 35. Convenient delivery/payment models
    • 36. India has been one of the fastest growing country for payment cards in the Asia-Pacific region.
    • 37. India currently has approximately 130 million cards (both debit and credit) in circulation.
  • GROWTH IN e-PAYMENT SYSTEM
  • 38. REGULATION-
    • The Reserve Bank of India (RBI) has been supportive in the development of electronic payments.
    • 39. In this direction, the “Payments and Settlement System Act” was enacted .
    • 40. Apart from being supporting, the RBI has also initiated various programs to encourage e-payments.
    CHANNELS OF PAYMENT-
    • Indian banks have put in place various channels of electronic payments in place to encourage customers to adopt the electronic mode.
    • 41. Channels like the Internet, mobile, ATMs, and drop boxes are some of the most frequently used channels apart from bank branches.
    MARKET MAPPING-
    • E-payments processing market has two major players, namely
    Tech Process, and Bill Desk, which is a pure play electronic transaction processing company.
  • 42. FROM PAPER TO PLASTIC……….
    ON GOING TRANSITION
  • 43. The Indian Payment System Is Transforming From Paper Mode To Electronic Mode.
    Two main reasons for such shift are:-
    The regulator has mandated routing all high-value transactions electronically to minimize movement of money and risk.
    At the retail end, customers are realizing the efficiency of electronic payments.
  • 44. SHIFTS IN THE PAYMENT SYSTEM
  • 45. TECHNOLOGICAL ADVANCEMENT IN e-PAYMENT
    Electronic Clearing Service (Credit and Debit).
    National Electronic Fund Transfer (NEFT).
    THE RULING PLASTIC MONEY
  • CONCLUSION
    Expand Market beyond Traditional geographic market.
    Override traditional marketing system into digital marketing system.
    Made human life convenient as a person can pay his payments online.
    Increasing the cardholder base will bring challenges to banks:
    • Designing new products and services, managing default rates and loyalty programs,etc.
  • THANK YOU
  • 48. Questions…??
  • 49. Feedback Time….