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Chapter 13

Chapter 13. Paying Via The Net. Agenda. Digital Payment Requirements Fraud Detection Online Payment Methods Online Payment Types The Future Payment. Digital Payment Requirements. Acceptability Anonymity: privacy & untraceability Convertibility Efficiency Flexibility Integration

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Chapter 13

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  1. Chapter 13 Paying Via The Net

  2. Agenda • Digital Payment Requirements • Fraud Detection • Online Payment Methods • Online Payment Types • The Future Payment

  3. Digital Payment Requirements • Acceptability • Anonymity: privacy & untraceability • Convertibility • Efficiency • Flexibility • Integration • Availability

  4. Digital Payment Requirements • Reliability • Scalability • Security • Integrity • Authentication • Usability

  5. Agenda • Digital Payment Requirements • Fraud Detection • Online Payment Methods • Online Payment Types • The Future Payment

  6. Fraud Detection • Methods • Products

  7. Methods • Checksum for credit card no. • Verify the credit card no. and expiration date with card issuer • Check postal address with online services • Confirmation with e-mail address • Digital certificates for non-repudiation • Predefined purchase limits each time and per week

  8. Methods • Confirmation web page for terms and conditions • Data base with credit card no., e-mail address, and phone no. • Document the complete online transactions • Trustworthy logistics partner • Unique key for online shipping digital merchandise

  9. Methods • Business rules for checking suspicious orders and credit card no.

  10. Products • Fraud Shield by ClearCommerce • Visa

  11. Agenda • Digital Payment Requirements • Fraud Detection • Online Payment Methods • Online Payment Types • The Future Payment

  12. Online Payment Methods • Pre-paid • Electronic cash systems • Smart cards • Instant-paid • Debit cards • Post-paid • Credit cards • Invoices • Internet cheques • Cash on delivery

  13. Electronic cash systems • Saving digital money to the hard disk or floppy disk • Pros & cons • Anonymity • Security with encryption and digital signature • Splitting value • Internet usage only • Easy to lose • No anonymity with physical delivery • No open standard

  14. Electronic cash systems • Products • DigiCash • NetCash • CyberCoins • IBM micro payment • MilliCent

  15. Smart Card • Embedded chips with encrypted digital money • Pros and cons • Use password to ensure the security • Cyber and real usage • Low transaction cost • No open standard

  16. Smart Card • Types • Health Care • Phone • Debit • Products • Mondex • VisaCash

  17. Instant-paid • Debit cards • Pros and cons • Access to bank’s database • Less fraud & error • High security • Complicated • Need hardware & software • Signature through fax • High communication costs

  18. Instant-paid • Product • Direct Debit

  19. Credit Cards • Four players: customer, merchant, issuer and acquirer • Pros & cons • International • Low security • High transaction cost • Fraud

  20. Credit Cards Security standards • Secure Socket Layer (SSL) • By Netscape • Encrypt traffic between the web browser and web server • Secure Electronic Transaction (SET) • By Visa and MasterCard • Public key encryption using digital certificates for both buyer and seller

  21. Credit Cards Security standards • SET features • High security • Low visibility • Standards • Non-repudiation • Chip-secured Secure Electronic Transaction C-SET • Use chip card for any network devices • Reduce cost and complexity for merchant

  22. Invoices • Business-to-business • Usage reasons • High volume transaction • No need to reorganize the old process • Low transaction fee

  23. Internet Cheques • Electronic cheques • Pros and cons • Require payer’s digital signature • Special software & network • Less manual steps • Systems • echeck by US Department of the Treasury

  24. Cash on Delivery (COD) • Pros and cons • Require logistics party • More expensive • Extra cost paid by customer

  25. Agenda • Digital Payment Requirements • Fraud Detection • Online Payment Methods • Online Payment Types • The Future Payment

  26. Online Payment Types • Micro payments • Less than $5 • Electronic cash transaction • Consumer payments • Between &5 and $500 • Credit card transactions • Business payments • Over $500 • Direct debit or invoice transaction

  27. Agenda • Digital Payment Requirements • Fraud Detection • Online Payment Methods • Online Payment Types • The Future Payment

  28. The Future Payment • Projects • Secure Electronic Marketplace for Europe (SEMPER) • The Open Trading Protocol (OTP) • Open Buying on the Internet • Global Trust Enterprise • Goal • Internet payment infrastructure to achieve the digital payment requirements

  29. Points to Remember • Digital Payment Requirements • Fraud Detection • Online Payment Methods • Online Payment Types • The Future Payment

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