• CP and CNP
• Need security
• Mobile banking
• Mobile commerce
• John Biggains had a vision of credit cards.
• In 1950s concept of customers paying different merchants using the same card came.
• This was termed as credit card
• There was no stable credit system by a third party bank that was accepted by a large
no of merchants.
• Bank of America launched the BankAmericard in Fresno, California.
• a group of banks established Master Charge to compete with BankAmericard (1966)
• Third party banks, mastercard and Visa shooked hands to develop a protocol
• goal was to combine the card associations' similar but incompatible protocols into a
• This was SET (secured electronic tranasaction)
• This protocol was widely used and accepted by many merchants
CP chip and pin
Also called as card present
• The transaction which required the card and its credentials/pin
• To use this we have to visit to merchant place
• We can be in a queue
• It is same as carrying cash with you
CNP card not present
• The transaction which required not the card but its credentials/pin
• The CNP was developed to fulfill the needs of growing e-commerce activities
• Need not to visit merchant place
• Need not to form a queue.
• The protocol is responsible for transferring the money/service.
• No one wants his money/service reaches to one who is not supposed to avail that
Roya Bank of Scotland WorldPay Heist
• 2008 hackers accessed RBS accounts and increased withdrawal amounts.
• To steal over $9m
• Clone cards were used on 2,100 ATMs across the world
• He was sentenced to 13 year prison
• Hacked 1.8m credit card numbers
• Theft was turnaround to $86.4m.
RuPay is an Indian domestic card scheme
conceived and launched by the National
Payments Corporation of India (NPCI). It
was created to fulfill the Reserve Bank of
India’s desire to have a domestic, open loop,
and multilateral system of payments in India.
RuPay facilitates electronic payment at all
Indian banks and financial institutions, and
competes with MasterCard and Visa in India.
NPCI maintains ties with Discover Financial
to enable the card scheme to gain
In cloud inphone
Buying goods Contactless/NFC
Mobile commerce Mobile banking
We are using consumer phone or not
Where is the security
Who has the consumer account
• Mobile point of sale
• Mobile is the accepting terminal
• Terminal is lighter
• Was popular in japan
• User has to strike his phone on machine
• Such that credit is transferred to merchant via machine
• To move money peer to peer.
• Account is held by bank
• Account is held by mobile operator
Alternative payment method
• Like Paypal
Fingerprint biometric payment system
• Payment solution through biometric fingerprint consists in a self-installing USB system
which allows reading customer’s fingerprint,
• no need of money or credit cards.
• Accurate Identification
• Easy and Safe for Use
• Time Saving
• Another kind of application not only responsible for money transaction
also the financial advice.
• User creates account in this.
• He sets goal that is to be maintained.
• User uses this application for all type of transactions.
• Whenever his transaction exceeds he is given a alert message.
This is a network type payment system
• In this customer as well as merchant creates account in this
• Whenever customer wants any service or product the application can help
him by locating the market place or by giving the customers requirement
• User just had to visit the that market place or avail that service
• While payment had already made prior to availing the product.
• The Internet might lead to a radical change in the future of money
• Money in form of coins and notes might lie in the banks as their
circulation may stop due to internet.