Chapter 5. Online Security and Payment Systems. Types of Payment Systems. Cash Checking Transfer Credit Card Stored Value Accumulating Balance. Cash. Legal tender Most common form of payment in terms of number of transactionsBy Olivia
Chapter 4. E-commerce Security and Payment. Types of Payment Systems. Cash Checking Transfer Credit Card Stored Value Accumulating Balance. Cash. Legal tender Most common form of payment in terms of number of transactionsBy veta
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Payment Systems. Funds Availability. Basic concepts. We have learned: A bank only has to pay a check if it is authorized by the customer and there is sufficient funds in the account to pay the check. Basic concepts.
Payment systems. Payment Systems. It is method of people to exchange one value for another. Ancient v/s Modern. Different payment systems. Cash Cheques Credit cards Debit cards Debit transfers. Cash. Cash consist of dollar bills and coins. Advantages and Disadvantages. Cheques.
Payment Systems. Why is it important? Wire transfers are the dominant system of payment in the United States More than US$3,200,000,000,000.00 per day (that’s $3.2 trillion!) through the system in US alone This is 85% of payments made each day
Payment Systems. ACH Payments. Basic Concepts ACH Payments. Governing Law EFTA applies to natural persons with consumer accounts. Common Law of Contracts NACHA Rules (Incorporating Article 4??). Basic Concepts ACH Payments. The Players
Payment Systems. To understand Internet-based monetary transaction models and issues such as: digital currency; e-wallets; smart cards; e-billing; micropayments. Outcomes. Traditional commerce involves different payment methods and transactions: cash or cheque; postal order;
Payment Systems. Risk of Loss in the Checking System: Special Rules. Basic concepts. Payment only occurs if a person entitled to enforce is paid. Basic concepts. People who are negligent and their negligence causes forgery or alteration loose the right to assert the forgery or alteration.
Payment Systems. The Credit Card System. Basic Concepts. Basic Concepts. Basic Concepts. Credit Card a dual purpose mechanism for: Completing payments Accessing credit . Basic Concepts. Governing Law Not the UCC (Article 4 excludes credit card slip from definition of item § 4-104(a)(9) )
Payment systems. Aalto University , autumn 2011. Outline. Money transfer Card payments Anonymous payments. MOney transfer. Common payment systems. Cash Electronic credit transfer Direct debit, e- lasku Check Credit card Cash transfer Mobile payment Anonymous payment
Payment Systems. What are Payment Systems?. Cash flows in and out of a business as value is exchanged. Cash is received through various sources of revenue or from sale of assets. Cash is disbursed (spent) through payment of bills and acquisition of assets.
Payment systems. Gerdien Meijerink. Main research issue (from KB1 proposal). How to implement a scheme of payments for environmental services, which involves linking the supply side - providing the environmental service - with the demand side - paying for the environmental service –