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Text Books: 1.Frontiers of electronic commerce Kalakota, Whinston, Pearson 2. E-Commerce, S.Jaiswal Galgotia
Lecture No L1
Types of Electronic Payment Systems & Digital Token-Based Electronic Payment Systems Properties of Electronic Cash Smart Cards & Electronic Payment Systems Credit Card- Based Electronic Payment Systems Risk & Electronic Payment Systems Designing Electronic Payment Systems
2 3 4 5 6
L2 L3 L4 L5 L6
L1.1
Encrypted Credit Cards (e.g., World Wide Web form-based encryption) Third-party authorization numbers (e.g., First Virtual)
3.Retrievability
4.Security
Charge cards such as one from American Express, carries no preset spending limit.
Disadvantages:
Payment card service companies charge merchants per-transaction fees and monthly processing fees.
Merchants risk Forged or copied instruments Disputed charges Insufficient funds in customers account Unauthorized redistribution of purchased items
Main issue: Secure payment scheme