Preview

Online Payment – Innovation in Split Tender Payment

Powerful Essays
Open Document
Open Document
2843 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Online Payment – Innovation in Split Tender Payment
International Journal of Computer Applications (0975 – 8887) Volume 55– No.10, October 2012

Online Payment – Innovation in Split Tender Payment
R Nagasubramanian
Research Scholar, Vels University, Plot 2A, Andavar Street, Ganapathy Puram, Chrompet, Chennai – 600 034

S.P.Rajagopalan, PhD. GKM College of Engineering & Technology, Chennai- 600 063, India

ABSTRACT
Online Payment is the fastest and secured way of making payments for various purposes like making utility payments, transferring funds and making purchases online. This paper will help to uncover few important value adding features in Split tender payment method which will increase the utility and make it user friendly.

General Terms
This paper talks about a very niche area – online payment gateway and the improvement in existing features which will make it more efficient and user friendly.

Keywords
Online Payment, Split Tender Payment, Multi source Payment, Privacy, performance, vulnerability, PCI DSS.

of technical and operational requirements designed to protect cardholder data. PCI DSS applies to all entities involved in payment card processing – including merchants, processors, acquirers, issuers, and service providers, as well as all other entities that store, process or transmit cardholder data . PCI DSS comprises a minimum set of requirements for protecting cardholder data, and may be enhanced by additional controls and practices to further mitigate risks. Below is a high-level overview of the 12 PCI DSS requirements grouped under the following categories namely Build and Maintain a Secure Network, Protect Cardholder Data, Maintain a Vulnerability Management Program, Implement Strong Access Control Measures, Regularly Monitor and Test Networks, Maintain an Information Security Policy.

1. INTRODUCTION
Online payment portals, though a powerful tool to make our life simple and gives the luxury to make all required payment transactions around any part of the world without leaving



References: [1] Why Comply with PCI Security Standards?, https://www.pcisecuritystandards.org/security_standards/ why_comply.php 41

You May Also Find These Documents Helpful

  • Satisfactory Essays

    Online payment method that improve along with internet, and the use of credit and debit cards are gradually taking market share from the print checks industry…

    • 491 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    E Commerce Payment

    • 2745 Words
    • 11 Pages

    An e-commerce payment system facilitates the acceptance of electronic payment for online transactions. Also known as financial electronic data interchange (FEDI), e-commerce payment systems have become increasingly popular due to the widespread use of the internet based shopping and banking. A payment gateway is an e-commerce application service provider service that authorizes payments for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar. It is the equivalent of a physical point of sale terminal located in most retail outlets. Payment gateway protects credit cards details encrypting sensitive information, such as credit card numbers, to ensure that information passes securely between the customer and the merchant and also between merchant and payment processor. A payment gateway facilitates the transfer of information between a payment portal (such as a website, mobile phone or IVR…

    • 2745 Words
    • 11 Pages
    Powerful Essays
  • Powerful Essays

    According to Agarwal (2009) The widely used ATM (Automated Teller Machine) was one of the early successful experiments aimed at saving costs to the bank and at the same time providing 24 X 7 cash service to the customer. However, ATMs deal with paper currency. Furthermore, the cost of replenishing cash on ATMs and maintaining them is also high. Electronic cash and electronic payment schemes are an attractive alternative from the perspective of cost and convenience. It is expected that in the space of electronic payment systems, mobile payment schemes – those in which at least one part of the transaction is carried out using a mobile device - will soon dominate the world of electronic payments. This is, at least in part, due to the easy availability of mobile phones.…

    • 922 Words
    • 4 Pages
    Powerful Essays
  • Satisfactory Essays

    Information technology which is the foundation of modern electronic banking through desktop computers and terminals provide the tools for delivery of new products and innovations characterized by ATM’s cash dispensers, credit and cash card, information technology through electronic banking is seriously changing how banking is done all over the world. The volume and speed of banking transactions has improved tremendously as a reject of the growth of electronic banking which has created a lot of changes and business opportunities for banks. What used to be termed electronic data processing has been transformed into electronic banking through information technology. The change in terminology reflects on equivalent transformation of the use of the computer from automation of paper flow to reduction in unit cost the replacement of manual with computer processing to today’s focus on electronic product and service delivery which has become the underlying ethos in today’s banking with a shift in adopting to a consumers market Internet banking is gaining ground.…

    • 534 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    In case of banked-based payment system, the customers have direct relationship with certified and monitored organization and the customer has to deal with a series of staff, hired by bank to conduct transactions smoothly, but our project will focus on “customer satisfaction” by resolving…

    • 1190 Words
    • 5 Pages
    Powerful Essays
  • Powerful Essays

    With the onset of the information age, Philippines are becoming increasingly dependent upon network communications. Computer-based technology is significantly impacting the ability to access, store, and distribute information like personal information’s, business information’s and stores these information’s into a secure storages and distribute it by internet connections or file sharing. Through this technology, human society is living into the fullest, that there are things that impossible before but today through the help of technology it made possible. Nowadays, most of the businesses small or big institutions, private or public organizations use the electronic especially in paying the bills. According to Keck (2005) Electronic payment have a several advantages, which were never available through the traditional modes of payments, some of the most important are: privacy, integrity, compatibility, good transaction efficiency, acceptability, convenience, mobility, low financial risk, and anonymity.…

    • 3233 Words
    • 13 Pages
    Powerful Essays
  • Powerful Essays

    Section B Group 15 Bitcoins

    • 3040 Words
    • 11 Pages

    With the inception of Internet, e-commerce business boomed with the need of epayment system. Still, there is no widely accepted method for transfer of payments- most of…

    • 3040 Words
    • 11 Pages
    Powerful Essays
  • Powerful Essays

    Er Diagram

    • 3901 Words
    • 16 Pages

    I. INTRODUCTION As electronic services are dependent on many governmental and private organizations, they grow and develop slowly in developing countries. A case in point could be online payment services which could be used whenever traditional banks change their systems into modern ones or shipping rates and services change to cost-effective ones that encourage customers to buy their requirements from online shopping systems. In this paper we try to focus on electronic commerce especially online shopping systems in Iran. Software and hardware infrastructures, payment methods, delivery methods, online purchasing culture and training are discussed. Our research is based on SDLC phases in software engineering. Preliminary investigation, analysis, and design phases have been done. Remaining phases including implementation and test can be done by presented diagrams in section 4. Technical specifications of Iranian banks such as SAMAN [8], PARSIAN [11] banks were evaluated. We also evaluated national delivery system in contrast with TNT and DHL briefly. In design phase, system modeling done based on previous phases evaluation and its…

    • 3901 Words
    • 16 Pages
    Powerful Essays
  • Powerful Essays

    E Payment

    • 13536 Words
    • 55 Pages

    Further classification of electronic cash systems 2.1.5 Payment mediation services vs. payment systems 2.2 Identifying the characteristics of payment systems 2.3 Advantages and limitations of payment models 2.3.1 Advantages and limitations of the electronic cash model 2.3.2 Advantages and limitations of the acount-based model 2.5 Conclusions Chapter 3. User survey of electronic payment systems 3.1 User acceptance of electronic payment systems 3.2 Survey of users’ attitudes towards characteristics of payment systems 3.2.1 Survey participants 3.2.2 Questionnaire design and analysis 3.2.3 Survey results and discussion 3.2.4 Implications for user acceptanc Introduction 1.1 Electronic payment systems and their place…

    • 13536 Words
    • 55 Pages
    Powerful Essays
  • Powerful Essays

    Ali Mohammad Mahboob, “Management Information Systems for today’s banking business: Bangladesh Perspective” South Asian Journal of Management, India, Vol-07, No.1&2 Bank, David, “Smart Cards are open to new attack by Hackers, Say Israeli Researchers”. Wall Street Journal, October 21, 1996, p-17 Basel Committee, “Electronic Money: Provider Issues and Regulatory Structure”. Report by the Working Committee on payments and settlement systems, Basel, June, 1996 Barbara A. Good, “E-Money” Working Paper , Federal Reserve Bank of Cleveland , Economic Research Department, August,(1997), pp-1-10 Bauer, Paul W., “Making payments in Cyberspace”, Economic Complementary, Federal Reserve Bank of Cleveland, October 1, 1995 Block Valerie, “Smart Card Venture, once written off, Is Perking Up.”, American Banker, Vol-161, no.186, September 27, 1999, Online Edition Castaneda, Laura, “Cashless future”, San Francisco Chronicle, September 25, 1996, p-1 Denny S., “Electronic Commerce Challenge”, Journal of Internet Banking and Commerce, Vol.3 no.3, June 1998 Federal Deposit Insurance Corporation Division of Supervision, U.S.A (1999) “Electronic Banking: Security and Soundness Examination Procedures” Graham George, “world tries a new way to pay.” Financial times, November 8, 1996, p-3 Khan, A.R,(2007) “Bank Management” 4th ed. Ruby Publications, pp-312-347 Koprowski, Gene (1996), “The money changers: Digital Cash Innovators Talk Bank, Bits, Bytes, and Bucks”, Fortune ASAP, August 28 pp-68-74. The Economists, “Digital dollars”, March 31, 2003 Thales-e-security, White Paper, (2007), “Security in Banking”, www.thales-esecurity.com Thales-e-security, White Paper, “General Cryptographic Knowledge”, www.Thale-esecurity.com Web: Thales-e-security.com…

    • 5615 Words
    • 23 Pages
    Powerful Essays
  • Powerful Essays

    This is to certify that the research work presented in this thesis entitled “CAINTA CATHOLIC COLLEGE E-WALLET SYSTEM” for the degree Bachelor of Science in Computer Science at the Cainta Catholic College embodies the result of original and scholarly work carried out by the undersigned. The researchers hereby declare that the contents of their submitted thesis are free from any material already published by another author nor does it contain statements lifted without due acknowledgement of the sources. They similarly attest that materials taken from other sources are properly quoted.…

    • 14344 Words
    • 59 Pages
    Powerful Essays
  • Powerful Essays

    Online transaction processing increasingly requires support for transactions that span a network and may include more than one company. For this reason, we will aim to develop online transaction processing software that allows transactions to the Catholic Church. A web-based system can make a faster and reliable process of service, so some people maybe preferred to use online processing.…

    • 8084 Words
    • 33 Pages
    Powerful Essays
  • Powerful Essays

    Net Banking

    • 5183 Words
    • 21 Pages

    Online banking facilities offered by various financial institutions have many features and capabilities in common, but also have some that are application specific.…

    • 5183 Words
    • 21 Pages
    Powerful Essays
  • Satisfactory Essays

    online banking system

    • 530 Words
    • 3 Pages

    Today the internet has changed the whole system of waiting. Be it standing in long queues to pay your bills, or reserving a movie ticket, railway ticket, airway ticket ,or even bus tickets, or moving around with trolleys at supermarkets, or choosing your stuff at shopping . These are now possible through online which mainly save time on waiting and pushes the bar to maximum speed. To complete this whole requirement money should be transferred to the dealer. This is when online banking comes into picture.…

    • 530 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    Local Literature

    • 15218 Words
    • 61 Pages

    HUMAN–COMPUTER INTERACTION, 2009, Volume 24, pp. 408–443 Copyright © 2009 Taylor & Francis Group, LLC ISSN: 0737-0024 print / 1532-7051 online DOI: 10.1080/07370020903038144…

    • 15218 Words
    • 61 Pages
    Powerful Essays