E-payment
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E-payment provides an alternative way to send and receive money online. However, there are some risks such as not being protected by financial compensation schemes if a company fails and personal information being accessible to intelligence agencies. Additionally, internet access is required to access online accounts. Some benefits of e-payment include time savings, expense control, and low commissions. Common e-payment types are payment cards, e-wallets, smart cards, e-cash, and e-checks. Examples of e-payment systems include M-Banking, PayPal, Google Wallet, and Amazon Payments.
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Electronic payment System
Electronic payment systems allow for paperless monetary transactions through various modes like credit cards, debit cards, smart cards, and electronic funds transfers. Credit cards involve a bank paying on behalf of the customer who then has a period to pay the bill. Debit cards immediately deduct funds from the linked bank account. Smart cards contain a microchip to store customer information and funds that are deducted with use. Electronic funds transfers allow money to be transferred between bank accounts without a middleman through ATMs or online banking. E-cheques enable creating and sending checks electronically through bank-provided software. Overall, electronic payment systems have streamlined business processes by reducing paperwork, transaction costs, and processing time.
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The document compares and contrasts three payment methods: debit cards, direct debit, and electronic cash. Debit cards provide an instant paid payment system where the merchant initiates the transaction, which is then verified and authorized before final payment. Direct debit allows merchants to set payment requests that are approved, rejected, or held before final payment, and can be used for recurring payments. Electronic cash uses prepaid e-cash software as a prepaid payment system where funds are loaded prior to making purchases.
E Payment
The document discusses various forms of e-payment systems:
1. Online credit card transactions allow customers to make purchases online using credit cards through a secure connection. Risks include potential disputes and fees for merchants.
2. Digital cash systems allow users to make small online payments by converting funds into digital "coins" through an intermediary like a bank. Coins are spent online and merchants redeem them for funds.
3. Online stored value systems allow users to pre-load funds from a credit card onto an online account, like Ecount, to make purchases from participating merchants through a secure connection.
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This document discusses various electronic payment systems including credit cards, debit cards, smart cards, e-money, electronic fund transfers, e-checks, PayPal, digital cash, and smart cards. It provides details on each payment method such as how they work, the parties involved in transactions, and examples of use. The key advantages of electronic payments are described as being paperless, user friendly, and reducing costs of transactions and labor.
6. electronic payment systems
An electronic payment system allows customers to make online payments for purchases. It uses electronic methods like e-cash, software wallets, and credit/debit cards instead of traditional methods like checks, cash, or credit cards. An electronic payment system has five main components: the buyer, seller, payment gateway, buyer's bank, and seller's bank. Popular electronic payment methods include payment gateways, internet banking, PayPal, SET protocol, and electronic cash/checks. A payment gateway authorizes credit card payments for e-businesses by handling authorization and settlement functions. Internet banking enables financial transactions through a bank's website using security standards like 128-bit SSL encryption. Elements of electronic payments include client/merchant software, customer payment
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The document compares and contrasts three payment methods: debit cards, direct debit, and electronic cash. Debit cards provide an instant paid payment system where the merchant initiates the transaction, which is then verified and authorized before final payment. Direct debit allows merchants to set payment requests that are approved, rejected, or held before final payment, and can be used for recurring payments. Electronic cash uses prepaid e-cash software as a prepaid payment system where funds are loaded prior to making purchases.
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The document discusses various forms of e-payment systems:
1. Online credit card transactions allow customers to make purchases online using credit cards through a secure connection. Risks include potential disputes and fees for merchants.
2. Digital cash systems allow users to make small online payments by converting funds into digital "coins" through an intermediary like a bank. Coins are spent online and merchants redeem them for funds.
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An electronic payment system allows customers to make online payments for purchases. It uses electronic methods like e-cash, software wallets, and credit/debit cards instead of traditional methods like checks, cash, or credit cards. An electronic payment system has five main components: the buyer, seller, payment gateway, buyer's bank, and seller's bank. Popular electronic payment methods include payment gateways, internet banking, PayPal, SET protocol, and electronic cash/checks. A payment gateway authorizes credit card payments for e-businesses by handling authorization and settlement functions. Internet banking enables financial transactions through a bank's website using security standards like 128-bit SSL encryption. Elements of electronic payments include client/merchant software, customer payment
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This document provides an overview of different electronic payment systems including payment cards, electronic cash, check free, check share, electronic wallets, and smart cards. It discusses the basic concepts and workings of these various e-payment methods. Key points covered include how payment cards like credit, debit, and charge cards work as well as their acceptance and processing. Advantages and disadvantages of payment cards and electronic cash are also summarized. The document also gives brief descriptions of different electronic wallet and smart card systems.
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The document discusses electronic payment systems (EPS), which allow customers to make online payments for purchases. There are two main types of EPS storage methods - those where a trusted third party like an online bank holds customer cash accounts, and those where the customer holds cash on a smart card or software wallet. Examples of EPS include online reservations, bill payments, orders, and ticket bookings. Common types of EPS are payment cards, electronic funds transfer, electronic cash systems, electronic wallets, and micro payment systems. Authentication, public key cryptography, and digital signatures provide secure infrastructure for EPS.
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This document summarizes electronic cash (e-cash) payment systems. It begins by distinguishing between fiduciary and scriptural money, then describes traditional cash payment methods like cash, checks, and money orders. It goes on to explain two models of e-cash: online and offline digital payment systems. The document outlines requirements, components, and types of e-cash including credit cards, digital currency, e-wallets, peer-to-peer payments, smart cards, and micro-payments. It discusses advantages and disadvantages of e-cash and applications. In the end, it provides references for further information.
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This presentation will tell about the various risks involved in paying through internet. Internet is a medium of delivering goods and services all around the world to the customers who are far away..so it includes various types of risks
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This document discusses e-payment systems and methods. It begins by outlining the objectives of e-payments, risks involved, and digital signatures. It then provides an introduction to e-payment systems and how they have grown with internet banking and shopping. The main e-payment methods discussed include credit cards, debit cards, smart cards, e-money, and electronic funds transfer. Payment gateways are described as facilitating secure transactions between customers and merchants. Digital signatures are also summarized as providing security for e-payments through use of public and private keys.
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Electronic payment systems can utilize digital tokens or electronic cash that is backed and stored in various ways. There are three main types of electronic cash based on when funds are debited from accounts - cash/debit, credit, and pre-paid. Electronic cash can be stored remotely on a computer's memory, smart cards, or other portable devices. Smart cards are another electronic payment method that can store sums of money and be used to pay small bills instantly. Credit card payments can be processed securely online through encryption or by using a third party verification service to confirm payments. Designing effective electronic payment systems requires addressing issues of privacy, security, usability and integration across different payment platforms and brokers.
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The document discusses electronic payment systems (EPS), which allow customers to make online payments for purchases. There are two main types of EPS storage methods - those where a trusted third party like an online bank holds customer cash accounts, and those where the customer holds cash on a smart card or software wallet. Examples of EPS include online reservations, bill payments, orders, and ticket bookings. Common types of EPS are payment cards, electronic funds transfer, electronic cash systems, electronic wallets, and micro payment systems. Authentication, public key cryptography, and digital signatures provide secure infrastructure for EPS.
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This document discusses various modes of electronic payments, including credit cards, debit cards, and smart cards. It describes the key parties involved in credit card transactions, such as the cardholder, merchant, issuer bank, and acquirer bank. Steps in the credit card process are outlined. Debit cards are explained as allowing customers to avoid carrying cash and being readily accepted by merchants. Smart cards are defined as plastic cards with embedded microchips that can be loaded with data and refreshed for uses like phone calls, cashless payments, and other applications. Both advantages and disadvantages of electronic payment modes are briefly mentioned.
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EPS system explanation, How EPS System works in real world, Model of E- Payments, Security concerns related to EPS systems, Case study of paytm related to electronic payment
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This document discusses electronic payment systems. It begins by introducing various online payment methods like e-cash, e-checks, credit cards, debit cards, and smart cards. It then describes each payment method in more detail, covering how they work, their importance and advantages/disadvantages. The document also discusses security issues in electronic payments and different biometric authentication methods. Overall, the document provides a comprehensive overview of electronic payment systems, methods, and related security considerations.
MIS 10 Electronic Payment System
The series of presentations contains the information about "Management Information System" subject of SEIT for University of Pune.
Subject Teacher: Tushar B Kute (Sandip Institute of Technology and Research Centre, Nashik)
http://www.tusharkute.com
Online Payment Transactions
The document discusses traditional and electronic payment methods. It covers cash, checks, money orders, credit cards, debit cards, and merchant accounts. It then discusses payment processing software and security measures needed to protect customer information during electronic transactions, including digital certificates and encryption. Alternative electronic payment forms mentioned include electronic cash, smart cards, electronic checks, and person-to-person payment systems. Fraud is a major problem and merchants must balance security measures with potential loss of sales.
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E-payment
- 2. e-payment is an account provides another way to send and receive money online.
- 3. Disclaimer : Restrictions E-payment companies are not protected by the Financial Services Compensation Scheme. This means you might not get compensation if your e-payment company goes out of business.
- 4. Disclaimer : Risk of being hacked If you follow the security rules the threat is minimum, but if the system of the company has been broken it will be an opening for a threat to personal data itself.
- 5. Disclaimer : The lack of anonymity All the informations about the transactions will be restore to database of the payment system, it means the intelligence agency has an access to your informations. You should decide wether its bad or good.
- 6. Disclaimer : The necessity of internet access If internet connection fails, you cannot get to your online account.
- 7. Beneficials: • Time Savings • Expenses Control • Low Commission • Userfriendly • Effective & Efficient Using an e-payment company means you don’t have to give out your credit or debit card details when you shop online. This reduces the risk of fraud.
- 8. • Choosing which e-payment company to use. • Set up an account. Register your details and follow the instructions. • Connect a bank card. Enter your credit or debit card details. Once you’re registered, you’ll be able to pay for purchases using your new account det
- 9. E-PAYMENT TYPES: • Payment Card : the payment can be done using credit or debit card • E-Wallet : keeps your money on account which you can use to buy things online • Smart Card : Account that allowed seller to knowthe customer data for E-Payment Proccess • E-Cash : money in a digital version that can be use to buy things online • E-Check : Check-In in a digital version
- 10. E-PAYMENT EXAMPLES : • M-Banking • Paypal • Google Wallet • Amazon Payments • Dwolla • Stripe • WePay • T-Cash • E-Money • Flazz Card
- 11. Sincerely , LC 11 – groups 4 , 5 , 6