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electronic payment system
The document discusses electronic payment systems. It defines electronic payment systems as allowing customers to pay for goods and services electronically without using cash or checks. It describes how electronic payment systems work through a series of steps when a customer makes a purchase. It also discusses the security measures in place to protect credit card information and the different types of electronic payment systems, including debit cards, credit cards, e-wallets, and cryptocurrencies. Finally, it outlines some of the key advantages of electronic payment systems such as time savings, efficiency, security, and reduced transaction costs.
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electronic payment system
- 1. Electronic Payment (E-Payment) System Preparedby: Lavin m.saeed Des.2022
- 2. • Out line: Whatis Electronic Payment System? How do electronic payment systems work? Security: What are the types of electronic payment system? What are the characteristics of an E-payment? The different types of e-commerce payments in use today are: Advantages of E-payment:
- 3. Normally e-payment isdone via debit cards, credit cards or direct bank deposits. But there are also other alternative payment methods such as e-wallets and cryptocurrencies. What is Electronic Payment System? Simply put, electronic payments allow customers to pay for goods and services electronically. This is without the use of checks or cash.
- 4. Electronic payment systemswork when people and electronic technologies work together to move the payment information instantly through a logical progression of steps – usually in just a few seconds. How do electronic payment systems work? Let’s walk through these steps using the book buying example.
- 5. Security: credit card fraudis a common crime. That’s why credit card security is so closely monitored. Almost every bank and store have built-in security measures that regularly check that the cardholder is who they say they are. But as with any online payment method, there are risks involved.
- 6. What are thetypes of electronic payment system? An automatic payment from the bank to the vendor. A one-time payment from the customer to the vendor. A recurring payment from the customer to the vendor.
- 7. It requires theuse of electronic devices, such as computers or smart-phones ,to initiate and complete transactions. What are the characteristics of an E-payment? It may offer additional features such as the ability to track and manage finances ,as well as integration with other financial services. It often offers real-time or near-real-time processing of transactions. It typically uses secure protocols and encryption to protect the confidentiality and integrity of financial information.
- 8. adredit Card The differenttypes of e-commerce payments in use today are: Credit Card Debit Card E-Wallet Mobile Payment
- 9. Advantages of E-payment: •Time-saving:- • Efficient:- • Security:- • Certainty:- • REDUCED TRANSACTION COSTS:-
- 10.
- 11. Reference: • https://bizfluent.com/info-8188352-advantages-disadvantages-epayment.html • https://www.mineraltree.com/blog/electronic-payments-what-your-business-needs-to-know •https://www.freshbooks.com/hub/payments/what-is-electronic-payment • https://www.dbs.com/digibank/in/articles/pay/what-is-electronic-payment
Editor's Notes
- #6 Social engineering attacks are not the complex attack which requires strong technical knowledge .an attacker might be non technical personal as defined earlier it is an act of stealing information from people . however social engineering attacks are performed by the following steps Research Research phase includes a collection of information about target organization. It may be collected by dumpster diving, scanning websites of the organization, finding information on the internet, gathering information from employees of the target organization, etc. Select Target In the selection of target phase, attacker select the target among other employees of an organization. A frustrated target is more preferred as it will be easy to reveal information from him. Relationship Relationship phase includes creating a relationship with the target in the way that he could not identify the intention in fact target will be trusting the attacker. More Trust level between target and attacker will be easier to reveal information. Exploit Exploit of relationship by a collection of sensitive information such as Username, Passwords, network information, etc.