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picture1_Electronic Payment System Ppt 80248 | Security 6 Payment Systems


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File: Electronic Payment System Ppt 80248 | Security 6 Payment Systems
the internet and financial system the financial system is increasingly dependent on the internet for communication and data transfer hence attacks on the internet can affect the financial system all ...

icon picture PPT Filetype Power Point PPT | Posted on 07 Sep 2022 | 3 years ago
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     The Internet and Financial System
        The financial system is increasingly dependent on 
           the Internet for communication and data transfer
            Hence, attacks on the Internet can affect the financial 
              system
        All sorts of entities—not just financial 
           institutions—transfer money electronically 
             Traditional reporting points may be circumvented,  
              making regulation more difficult
                                       
     Issues Discussed
      The credit card system
      Credit card fraud
      Electronic transfers by entities not 
         traditionally regarded as financial institutions
                                     
     The Credit Card System
      Currently, the main form of payment in 
         business to consumer transactions in e-
         commerce is by credit card
      A picture of the credit card system is essential 
         background for our issues.
                                     
    The Basic Credit Card Transaction
                                              Authorization request
         Purchase / CC #                      Record of charge
                             Merchant
    Card holder               National                 Merchant bank
                              switch
                      Payment            Authorization
         Record of charge
                           Issuing bank
                                      
         Payment
     Advantages
      One key advantage of the credit card system 
         is its charge-back procedures for dispute 
         resolution
      This provides effective, efficient dispute 
         resolution for participants in the credit card 
         system
      Alternatives to the credit card system will 
         need some dispute resolution procedures
                                     
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...The internet and financial system is increasingly dependent on for communication data transfer hence attacks can affect all sorts of entities not just institutions money electronically traditional reporting points may be circumvented making regulation more difficult issues discussed credit card fraud electronic transfers by traditionally regarded as currently main form payment in business to consumer transactions e commerce a picture essential background our basic transaction authorization request purchase cc record charge merchant holder national bank switch issuing advantages one key advantage its back procedures dispute resolution this provides effective efficient participants alternatives will need some...

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