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Payment Methods in Ecommerce

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Payment Methods in Ecommerce
Contents
Executive Summary………………………………………………………………Page 2
Introduction……………………………………………………………………….Page 3
Concept and Size of Electronic Payment…………………………………………Page 5
Modes of Payment in Electronic Payment system in E- commerce……..……......Page 6
Online Credit Card Payment System…………………………………………Page 7 Process of using Credit Card……………………………………………………..Page 8
Steps involved in the online transaction…………………………………………..Page 9
Credit Card Transaction Security………………………………………………....Page 11
Terms related to online Credit card frauds………………………………………..Page 12
Security measures in online credit card payment systems……………………...…Page 13
Security Schemes………………………………………………………………….Page 14
Secret Key encryption……………………………………………………………..Page 15
Public key cryptography…………………………………………………………..Page 15
Electronic Protocols……………………………………………………………….Page 16
Electronic Fund Transfer…………………………………………………………..Page 19
Electronic Checks………………………………………………………………….Page 19
Electronic Wallets………………………………………………………………….Page 20
Virtual Credit Cards………………………………………………………………..Page 20
Concluding Remarks……………………………………………………………….Page 21
References………………………………………………………………………….Page 22

Executive summary

With the rapid advancement in technology and the expansion of business, more and more companies are venturing into E-commerce in a race to grow not just regionally but also internationally. E-commerce adaption necessitates the change of the business model companies have been following traditionally and with it comes the change in the modes to make the payments. With the popularity of the internet for common use in business since 1990, E-commerce has been growing and touching the new horizons in every category of business , there are organizations today that depends heavily upon the E-commerce and there are examples amongst the fortune 500 giants which have seen tremendous growth in the era of E-commerce conducting the business


References: Boe (n.d). Retrieved from http://www.boe.ca.gov/pdf/reg1707.pdf on March 24, 2010. Cl cam. (n.d). Retrieved from http://www.cl.cam.ac.uk/~lp15/papers/Auth/SET- overview-2002.pdf on March 24, 2010. Cs.USF (n.d) retrieved from http://www.cs.ucf.edu/~rjain/SET%20Secure%20Electronic%20Transaction%20By%20Rupesh%20Jain.pdf Danial, Amor (2002) Entrust (n.d). Retrieved from http://www.entrust.com/resources/pdf/cryptointro.pdf March 24, 2010. H.Albert Napoier, Phillip J. Judd, Ollie N. Rivers& Stuart W. Wagner(2001) Creating a winning E business Itig (n.d). retrieved from http://itgi.org/Template.cfm? section=Home&CONTENTID=21545&TEMPLATE=/ContentManagement/ContentDisplay.cfm on March 24, 2010. Investitech (n.d). retrieved from http://www.investintech.com/resources/articles/publicprivatekey on March 24, 2010 Laudon, C. Kenneth & Traver, Carol (2002), E-Commerce, New Delhi: Pearson Education Michael J Smart Card (n.d) retrieved from http://www.smartcard.co.uk/tutorials/sct-itsc.pdf on March 24, 2010. Texas department of human resources (2009) retrieved from http://www.dir.state.tx.us/security/reading/2009%20CyberSecurity%20Tips/200905cybersec.pdf on March 24, 2010.
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