Electronic Payment Systems and Their Security

Electronic Payment Systems and Their Security

Kannan Balasubramanian (Mepco Schlenk Engineering College, India) and M. Rajakani (Mepco Schlenk Engineering College, India)
Copyright: © 2016 |Pages: 16
DOI: 10.4018/978-1-5225-0273-9.ch002
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Abstract

Electronic commerce (or e-commerce) can be defined as any transaction involving some exchange of value over a communication network. This broad definition includes: Business-to-business transactions, such as EDI (electronic data interchange); Customer-to-business transactions, such as online shops on the Web; Customer-to-customer transactions, such as transfer of value between electronic wallets; Customers/businesses-to-public administration transactions, such as filing of electronic tax returns. Business-to-business transactions are usually referred to as e-business, customer-to-bank transactions as e-banking, and transactions involving public administration as e-government. A communication network for e-commerce can be a private network (such as an interbank clearing network), an intranet, the Internet, or even a mobile telephone network. In this chapter, the focus is on customer-to-business transactions over the Internet and on the electronic payment systems that provide a secure way to exchange value between customers and businesses.
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Introduction

Electronic Commerce

Electronic commerce (or e-commerce) can be defined as any transaction involving some exchange of value over a communication network. This broad definition includes

  • Business-to-business transactions, such as EDI (electronic data interchange).

  • Customer-to-business transactions, such as online shops on the Web.

  • Customer-to-customer transactions, such as transfer of value between electronic wallets.

  • Customers/businesses-to-public administration transactions, such as filing of electronic tax returns.

Business-to-business transactions are usually referred to as e-business, customer-to-bank transactions as e-banking, and transactions involving public administration as e -government. A communication network for e-commerce can be a private network (such as an interbank clearing network), an intranet, the Internet, or even a mobile telephone network. In this chapter, the focus is on customer-to-business transactions over the Internet and on the electronic payment systems that provide a secure way to exchange value between customers and businesses.

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