Online Payment System - Debit Cards, Direct Debit and Electronic Cash
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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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Online Payment System - Debit Cards, Direct Debit and Electronic Cash
- 1. Debit Cards, Direct Debit & Electronic Cash
- 2. Debit Card Direct Debit Instant Paid Payment System
- 3. Electronic Cash Prepaid Payment System
- 4. Actual Transaction Prepaid Payment System Instant Paid Payment System Post Payment System (Credit)
- 5. Debit Card
- 13. Direct Debit
- 14. Direct Debit Merchant sets Payment Request
- 15. Approve, Reject or Hold Direct Debit
- 20. Electronic Cash (E-Cash) E – Cash Software
- 21. Electronic Cash (E-Cash) E – Cash Software
- 22. Thank You
Editor's Notes
- An anonymous electronic cash system; equivalent to "cash" or "printed bank notes" except that it is transferred through networks with bits of information, in essence it is just another representation of monetary value; anonymity is preserved through public key cryptography, digital signatures, and blind signatures. Ecash is used over the Internet, email, or personal computer to other workstations in the form of secured payments of "cash" that is virtually untraceable to the user. It is backed by real currency from real banks. The way ecash works is similar to that of electronic fund transfers done between banks. The user first must have an ecash software program and an ecash bank account from which ecash can be withdrawn or deposited. The user withdraws the ecash from the account onto his/her computer and spends it in the Internet without being traced or having personal information available to other parties that are involved in the process. The recipients of the ecash send the money to their bank account as with depositing "real" cash.
- An anonymous electronic cash system; equivalent to "cash" or "printed bank notes" except that it is transferred through networks with bits of information, in essence it is just another representation of monetary value; anonymity is preserved through public key cryptography, digital signatures, and blind signatures. Ecash is used over the Internet, email, or personal computer to other workstations in the form of secured payments of "cash" that is virtually untraceable to the user. It is backed by real currency from real banks. The way ecash works is similar to that of electronic fund transfers done between banks. The user first must have an ecash software program and an ecash bank account from which ecash can be withdrawn or deposited. The user withdraws the ecash from the account onto his/her computer and spends it in the Internet without being traced or having personal information available to other parties that are involved in the process. The recipients of the ecash send the money to their bank account as with depositing "real" cash.
- An anonymous electronic cash system; equivalent to "cash" or "printed bank notes" except that it is transferred through networks with bits of information, in essence it is just another representation of monetary value; anonymity is preserved through public key cryptography, digital signatures, and blind signatures. Ecash is used over the Internet, email, or personal computer to other workstations in the form of secured payments of "cash" that is virtually untraceable to the user. It is backed by real currency from real banks. The way ecash works is similar to that of electronic fund transfers done between banks. The user first must have an ecash software program and an ecash bank account from which ecash can be withdrawn or deposited. The user withdraws the ecash from the account onto his/her computer and spends it in the Internet without being traced or having personal information available to other parties that are involved in the process. The recipients of the ecash send the money to their bank account as with depositing "real" cash.
- An anonymous electronic cash system; equivalent to "cash" or "printed bank notes" except that it is transferred through networks with bits of information, in essence it is just another representation of monetary value; anonymity is preserved through public key cryptography, digital signatures, and blind signatures. Ecash is used over the Internet, email, or personal computer to other workstations in the form of secured payments of "cash" that is virtually untraceable to the user. It is backed by real currency from real banks. The way ecash works is similar to that of electronic fund transfers done between banks. The user first must have an ecash software program and an ecash bank account from which ecash can be withdrawn or deposited. The user withdraws the ecash from the account onto his/her computer and spends it in the Internet without being traced or having personal information available to other parties that are involved in the process. The recipients of the ecash send the money to their bank account as with depositing "real" cash.