E-commerce: who carries the risk of fraud?
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1. The document discusses the issue of fraud risk in electronic commerce and digital signatures, noting that while non-repudiable digital signatures aim to reduce risk, private keys are often not adequately protected. 2. Laws attempting to promote e-commerce by shifting fraud risk to individuals may be misleading as truly secure digital signatures do not currently exist. Additionally, small businesses may be discouraged from online sales if faced with high fraud costs. 3. The document concludes that until consumers have truly secure signature technologies, they should not be held responsible for fraud risks, and that banks are best equipped to manage these risks as they do with other payment methods.
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MasterCard has been innovating payment security solutions for nearly 50 years. They use a multi-layered approach to prevent fraud, including EMV chip cards, tokenization, monitoring of 1.8 billion transactions per month, and consumer protections like limited liability. Their goal is to build a world with safe payments for every person and device. In the rare case that fraud occurs, MasterCard aims to eliminate consumers' financial exposure.
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This document discusses electronic payment systems. It begins by defining electronic payment systems and how they can be modern versions of traditional systems like checks and credit cards or based on digital currency. It then discusses traditional payment systems and some of their limitations. The document goes on to describe various modern electronic payment systems like credit cards, smart cards, debit cards, electronic checks, and peer-to-peer payments. For each system it provides details of how they work and their advantages and disadvantages. It concludes by discussing the benefits of electronic payment systems and some disadvantages.
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Virtual money, internet, privacy, piracy & e-commerce
A presentation on the evolving digital economy as of year 2005 CE. This presentation was made to the Indian Professionals Association, Paris, France on 26-Feb-2006 by Vijayan Ganapathy
Explores the footprints of the digital economy, the transformation of the notion of money, the convergence of technology and resources, digital money, virtual money, internet, digital control and intelligence, the pains of a digital life, flight of money, digital money taxation issues, digital crimes, digital value preservation, examples of virtualization from daily life and the transforming digital economy, examples of privacy and piracy issues and their impact on e-commerce.
The presentation ends with a peek into the evolving future and some general guidelines on how to tread safely and derive value from the digital future.
Note: The information in this presentation was sourced from various articles which were available on the internet as of the date of the presentation. The author does not vouch for the veracity of the information. Since the material for this presentation has been sourced from multiple sources for a purely academic purpose, the author may not be able to individually credit each of the sources from where the information was sourced. If you feel that you deserve credit for some or most of the information presented, please reach out to the author of this presentation.
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Editor's Notes
- Report at URL? Co-authors, FIPR.