23-06-2012, 02:15 PM
ELECTRONIC PAYMENT SYSTEMS AND SECURITY
[attachment=25256]
Abstract:-
The commercialization of the Internet and the subsequent evolution of electronic commerce have resulted in a dynamic business environment where transactions are able to take place without face to-face interaction. As the popularity of electronic commerce continues to increase, numerous payment systems have been created, attempting to make the process of exchanging money over the Internet easier for consumers. Electronic payment is the backbone of e-commerce transactions. The paper defines the types of secure payment methods over the internet. Next it defines the role of Protocols and introduces its types. It concludes that internet payment system should be developed to satisfy all requirement of electronic commerce.
Payments by Mobile Telephone:
Payments made under this system will use technology GPRS (General Packet Radio Service), WAP (Wireless Application Protocol) and UMTS (Universal Mobile Telecommunications Service).
A store associated with this system makes a purchase request to the payment management center. The client, by the use of a code number, asks for a validation of the purchase to the payment management center. This center authorizes the transactions and sends a message to the store confirming the sale and a message to the client confirming purchase. Later, from the client’s bank will be made transference of funds to the payment management center, and the management center will send transference to the bank of the seller.
Future of smart cards:
The implantation of these kind of cards can not be accelerated unless an important technological change takes place, because the main issuing card companies (Visa, MasterCard, America Express) are making advertising campaigns for the popularization of this kind of cards for their use in the network. For example, American Express has sent the Blue Card American Express that offers as benefit, in addition to the conventional cards the possibility of the postponement of payments, access to the account balance, guarantee in on-line purchase, return of 1% of its purchases, client service attention 24 hours, help anywhere in the world, etc.
Systems Based on NetBill Checks:
This is a system that was developed by the University of Carnegie Mellon. Its operation is based on a protocol of transactions of NetBill and the use of symmetrical keys for the return of the acquired data.
This kind of transaction receives the name NetBill checks because its operation is similar to a payment with a check, so that the payment (and the transference of funds between accounts) is carried out at the moment in which the purchase is made.
SSL Protocol (Secure Socket Layer):
This protocol was developed specially for the data transmission through the Internet. Its technology is based on the encryption of the data of the user.
This system centers the risk and the responsibility of transactions on the retailer. The system is based on the introduction in the Internet navigator of a protocol “SSL”. This sends the encrypted information to the web server in which the virtual store of the supplier of services is hosted. The supplier of services to programs its server so that this demands the encryption of the data when it receives sensitive information, such as the personal number of the credit card, personal data, etc.
Protocol SET (Secure Electronic Transaction):
This protocol is of transactional character. It is the model that is proposed by the emitting companies of Visa and MasterCard. Its intention is to guarantee a safe electronic transaction and to assure to authenticate the identity of the user in any kind of network including Internet.
The system is based on the emission of a digital certificate administered by specialized organizations so that an absolute control of all the monetary operations on the Internet can be established. Of this form, all those people or companies that wish to conduct monetary operations in the environment of the Internet will have to install in their computer a digital certificate that credits its authenticity and in addition that relates it to the banking accounts in which the instalments and the resulting outcomes of the conducted transactions will be made.
CONCLUSIONS AND RECOMMENDATIONS:
E-commerce has its main link in its development on-line in the use of payment methods, some of which we have analyzed in this work. The risks to the use of e-commerce are identity theft and theft of payment data, and fraudulent rejection on the part of consumers.
Therefore, and until the use of the electronic signature is wide spread, we must use the technology available for the moment to guarantee a reasonable minimum level of security on the network. With respect to the payment methods that have been analyzed in this work, it is impossible to say that any one of them is perfect, although each one of them has advantages as opposed to the other. It is therefore up to the businessman to choose some of them, depending on the goods that they sell.
[attachment=25256]
Abstract:-
The commercialization of the Internet and the subsequent evolution of electronic commerce have resulted in a dynamic business environment where transactions are able to take place without face to-face interaction. As the popularity of electronic commerce continues to increase, numerous payment systems have been created, attempting to make the process of exchanging money over the Internet easier for consumers. Electronic payment is the backbone of e-commerce transactions. The paper defines the types of secure payment methods over the internet. Next it defines the role of Protocols and introduces its types. It concludes that internet payment system should be developed to satisfy all requirement of electronic commerce.
Payments by Mobile Telephone:
Payments made under this system will use technology GPRS (General Packet Radio Service), WAP (Wireless Application Protocol) and UMTS (Universal Mobile Telecommunications Service).
A store associated with this system makes a purchase request to the payment management center. The client, by the use of a code number, asks for a validation of the purchase to the payment management center. This center authorizes the transactions and sends a message to the store confirming the sale and a message to the client confirming purchase. Later, from the client’s bank will be made transference of funds to the payment management center, and the management center will send transference to the bank of the seller.
Future of smart cards:
The implantation of these kind of cards can not be accelerated unless an important technological change takes place, because the main issuing card companies (Visa, MasterCard, America Express) are making advertising campaigns for the popularization of this kind of cards for their use in the network. For example, American Express has sent the Blue Card American Express that offers as benefit, in addition to the conventional cards the possibility of the postponement of payments, access to the account balance, guarantee in on-line purchase, return of 1% of its purchases, client service attention 24 hours, help anywhere in the world, etc.
Systems Based on NetBill Checks:
This is a system that was developed by the University of Carnegie Mellon. Its operation is based on a protocol of transactions of NetBill and the use of symmetrical keys for the return of the acquired data.
This kind of transaction receives the name NetBill checks because its operation is similar to a payment with a check, so that the payment (and the transference of funds between accounts) is carried out at the moment in which the purchase is made.
SSL Protocol (Secure Socket Layer):
This protocol was developed specially for the data transmission through the Internet. Its technology is based on the encryption of the data of the user.
This system centers the risk and the responsibility of transactions on the retailer. The system is based on the introduction in the Internet navigator of a protocol “SSL”. This sends the encrypted information to the web server in which the virtual store of the supplier of services is hosted. The supplier of services to programs its server so that this demands the encryption of the data when it receives sensitive information, such as the personal number of the credit card, personal data, etc.
Protocol SET (Secure Electronic Transaction):
This protocol is of transactional character. It is the model that is proposed by the emitting companies of Visa and MasterCard. Its intention is to guarantee a safe electronic transaction and to assure to authenticate the identity of the user in any kind of network including Internet.
The system is based on the emission of a digital certificate administered by specialized organizations so that an absolute control of all the monetary operations on the Internet can be established. Of this form, all those people or companies that wish to conduct monetary operations in the environment of the Internet will have to install in their computer a digital certificate that credits its authenticity and in addition that relates it to the banking accounts in which the instalments and the resulting outcomes of the conducted transactions will be made.
CONCLUSIONS AND RECOMMENDATIONS:
E-commerce has its main link in its development on-line in the use of payment methods, some of which we have analyzed in this work. The risks to the use of e-commerce are identity theft and theft of payment data, and fraudulent rejection on the part of consumers.
Therefore, and until the use of the electronic signature is wide spread, we must use the technology available for the moment to guarantee a reasonable minimum level of security on the network. With respect to the payment methods that have been analyzed in this work, it is impossible to say that any one of them is perfect, although each one of them has advantages as opposed to the other. It is therefore up to the businessman to choose some of them, depending on the goods that they sell.