Cybermoney in the Internet: An Overview over new Payment Systems in the Internet

1996 ◽  
pp. 183-195
Author(s):  
Rüdiger Grimm ◽  
Kambiz Zangeneh
Keyword(s):  
The Internet ◽  
Payment Systems

The Adoption of the Internet to Support Arab Academics

2012 ◽  
pp. 786-799
Author(s):  
Abdelnasser Abdelaal
Keyword(s):  
Socioeconomic Development ◽  
File Sharing ◽  
The Internet ◽  
Mutual Understanding ◽  
Payment Systems ◽  
Internet Applications ◽  
Academic Communities ◽  
It Culture ◽  
American Society ◽  
Student Association

This chapter addresses the adoption of Internet applications by an Arab Student Association in North America (ASANA)1. ASANA uses the Internet to integrate its members, promote the Arabic culture, bridge with the American society and transfer knowledge to its native country. It delivers these services through websites, email service, electronic payment systems, online conferencing, file sharing tools and other digital resources. These online services build social capital, accrue intellectual capital, and cement mutual understanding between Arabs and the American society. However, these e-services are not widely adopted due to the lack of awareness of their usefulness, the absence of suitable IT culture, poor service quality, instability of leadership, and inadequate incentive system. Improving the adoption of ASANA e-services requires stable leadership, supportive IT culture, assessing provided services, and providing incentives to members to participate. This chapter provides insights and conceptual details that help Arab academic communities to use the Internet to participate in the overall socioeconomic development of their societies.

Agents and Payment Systems in E-Commerce

2011 ◽  
pp. 99-103
Author(s):  
Sheng-Uei Guan
Keyword(s):  
Credit Card ◽  
Business Models ◽  
New Technologies ◽  
Mobile Internet ◽  
The Internet ◽  
Open Market ◽  
Payment Systems ◽  
Agent Based ◽  
Payment Scheme ◽  
Payment Schemes

An emerging outcome of the popularization of the Internet are electronic commerce and payment systems, which present great opportunities for businesses, reduce transaction costs, and provide faster transaction times. More research has been conducted with new technologies like mobile Internet used by business models (Baek & Hong, 2003). However, before using the Internet, it is essential to provide security in transferring monetary value over the Internet. A number of protocols have been proposed for these secure payment systems, including NetBill, NetCheque, Open Market, iKP, Millicent, SET (Sherift, 1998), E-Cash (Brands, 1995), NetCash, CAFÉ (Mjolsnes, 1997), EMV cards (Khu-Smith & Mitchell, 2002), etc. These systems are designed to meet diverse requirements, each with particular attributes. Automation and intelligence is another issue that poses challenges in the development of e-commerce. Agent technology has been incorporated into the area of e-commerce to provide automation and intelligence for the e-trade process. An agent is a software program capable of accomplishing tasks autonomously on behalf of its user. Agents must provide trustworthy consistency and fault tolerance to avoid eavesdropping and fraud. Also, agents should have roaming capability so as to extend their capability well beyond the limitations of owners’ computers. To meet these requirements, this chapter will discuss some related components under the SAFER (Secure Agent Fabrication, Evolution, and Roaming) architecture (Zhu & Guan, 2000) and propose an agent-based payment scheme for SAFER. Different types of electronic payment systems have been developed to meet its diverse requirements, which generally include integrity, authorization, confidentiality, availability, and reliability for security requirements (Asokan, 1997). Payment systems can be classified in a variety of ways according to their characteristics (Dahab & Ferreira, 1998), such as the exchange model (cash-like, check-like, or hybrid), central authority contact (online or offline), hardware requirements (specific or general), payment amounts (micropayment), etc. Among the available payment schemes in the market, E-Cash is one of the best in terms of security, flexibility, and full anonymity. E-Cash is a cash-like online system that uses electronic coins as tokens. E-Cash has unique advantages, such as flexibility, integrity, and full anonymity that cannot be found in electronic check and credit card based systems. It uses cryptographic techniques to provide full anonymity. The agent-based payment scheme for SAFER adopts some similar principles and concepts of E-Cash.

E-Commerce Agents and Payment Systems

2009 ◽  
pp. 822-828
Author(s):  
Sheng-Uei Guan
Keyword(s):  
Credit Card ◽  
Business Models ◽  
New Technologies ◽  
Mobile Internet ◽  
The Internet ◽  
Open Market ◽  
Payment Systems ◽  
Agent Based ◽  
Payment Scheme ◽  
Payment Schemes

An emerging outcome of the popularization of the Internet is the electronic commerce and payment systems, which present great opportunities for businesses, reduce transaction costs, and provide faster transaction time. Research has been conducted with new technologies, like mobile Internet used by business models (Baek & Hong, 2003). However, before using the Internet, it is essential to provide security in transferring monetary value over the Internet. Quite a number of protocols have been proposed for these secure payment systems, including NetBill, NetCheque, Open Market, iKP, Millicent, SET (Sherift & Serhrouchni, 1998), ECash (Brands, 1995), NetCash, CAFÉ (Mjolsnes & Michelson, 1997), EMV cards (Khu-Smith & Mitchell, 2002), and so forth. These systems are designed to meet diverse requirements, each with particular attributes. Automation and intelligence is another issue that poses challenges in the development of e-commerce. Agent technology has been incorporated into the area of e-commerce to provide automation and intelligence for the e-trade process. Agent is a software program, which is capable of accomplishing tasks autonomously on behalf of its user. Agents must provide highly trustworthy consistency and fault tolerance to avoid eavesdropping and fraud. Also, they should have roaming capability so as to extend their capabilities well beyond the limitations of owners’ computers. This article will discuss some related components under the Secure Agent Fabrication, Evolution, and Roaming (SAFER) architecture (Guan & Hua, 2003; Guan & Yang, 2004; Guan & Zhu, 2002; Ng, Guan, & Zhu, 2002; Zhu, Guan, Yang, & Ko, 2000) and propose an agent-based payment scheme for SAFER. Different types of electronic payment systems have been developed to meet their diverse requirements, which generally include integrity, authorization, confidentiality, availability, and reliability for security requirements (Asokan & Johnson, 1997). Payment systems can be classi- fied in a variety of ways according to their characteristics (Dahab & Ferreira, 1998), such as the exchange model (cash like, check like or hybrid), central authority contact (online or offline), hardware requirements (specific or general), payment amount (micropayment), and so forth. Among all the available payment schemes in the market, e-cash is one of the best in terms of security, flexibility, and full anonymity. E-cash is a cash-like online system that uses electronic coins as tokens. E-cash has its unique advantages, such as flexibility, integrity, and full anonymity that cannot be found in electronic check and credit card-based systems. It uses cryptographic techniques to provide full anonymity. The agent based payment scheme for SAFER adopts some similar principles and concepts of e-cash.

scholarly journals Regulation of relationship building and sale relations on the Іnternet and improvement of fraud investigation

2020 ◽  
pp. 78-82
Author(s):  
S. Chuchko
Keyword(s):  
Relationship Building ◽  
The Internet ◽  
Payment Systems ◽  
Legal Regime ◽  
Law Enforcement Agencies ◽  
Initial Information ◽  
Goods And Services ◽  
Criminal Offenses ◽  
The Law

The article examines some aspects of the regulation of legal relations in cyberspace when buying and selling goods and services over the Internet.The main normative legal acts that determine the legal policy in the field of contractual relations and commercialization on the Internet are analyzed: Law of Ukraine “On e-commerce”, the Law of Ukraine “On payment systems and funds transfer in Ukraine”, the Law of Ukraine “on Consumer Protection”,The Law of Ukraine “On the use of registrars of settlement transactions in the field of trade, catering and services”, the Civil Code of Ukraine, etc.Factors influencing the level of abuse, including fraud in the sale of goods and services over the Internet, are outlined.It has been emphasized that in recent decades there has been a rapid growth of transactions via the Internet, through which you can carry out household and commercial transactions and purchase goods without leaving the premises. For the majority of the population, this form of “virtual” trade has become convenient and fully met their needs, significantly saving time. At the same time, the active turnover in the network has led to a significant number of violations, a large number of which contain criminal offenses, including fraud.The ways, procedures, as well as problematic issues faced by practitioners during the evaluation of initial information and during the investigation of fraud in the purchase and sale of goods over the Internet are identified.It is argued that the knowledge of law enforcement agencies of the legal regime of legal relations in cyberspace and the procedure for concluding sales agreements via the Internet, will significantly improve the quality of the investigation and help establish the objective truth in the case.

scholarly journals Wi-Fi Security Card (WCS): A Novel Approach for Secure Payment System

2021 ◽  
Vol 3 (2) ◽  
pp. 158-161
Author(s):  
Sumit Kumar
Keyword(s):  
Financial Services ◽  
Payment System ◽  
The Internet ◽  
Payment Method ◽  
Payment Systems ◽  
Security Issues ◽  
Novel Approach ◽  
Vital Element

The latest technology is turning into a vital element in financial business. This paper presents a proposed system called Wi-Fi Security Card (WCS) based on the very common and growing problem of electronic transaction fraud in the countries of India. To solve such problems, we have proposed a novel secure payment method known as Wi-Fi Security Card (WCS). In this paper, we also compared the WCS system to another existing system called Dropped Card Detection (DCD) and Microcontroller and Sensors (MAS). The main advancement of our system over the existing system is that WCS can also prevent fraudulent transactions. Nowadays, security issues in e-payments are usually more demanding than current security issues on the internet. Our findings may enable e-transaction providers to extend their secure payment systems by increasing their protection as necessary for appropriate financial services.

NFC Devices

2017 ◽  
pp. 166-190
Keyword(s):  
Mobile Devices ◽  
Mobile Phones ◽  
Near Field ◽  
Near Field Communication ◽  
The Internet ◽  
Payment Systems ◽  
Everyday Objects ◽  
Real World Application ◽  
The Internet Of Things

NFC devices are used in contactless payment systems, similar to those used in credit cards electronic ticket smartcards and allow mobile payment to replace and supplement these systems. Specifically, combining NFC enabled devices or NFC mobile phones with RFID tags offers additional benefits when compared to traditional RFID solutions. When an application requires that a device have frequent interaction with tags at numerous process points, the high expense of using traditional handheld RFID readers is cost prohibitive. By replacing handheld readers with NFC-enabled phones at data collection points, the ROI for the application increases. HID Trusted Tag® Services is an example of an application that combines HID Global's patented Near Field Communication (NFC) trusted tag technology and cloud-based authentication platform to add unique and trusted identities to everyday objects that can be read by NFC-enabled mobile devices. This is ideal for establishing proof of presence, digital out of home (DOOH) and electronic visitor verification (EVV) and also serves as a real-world application of the Internet of Things (IoT) that has been discussed in Chapter 1. Some of the examples of NFC based mobile devices is discussed in the chapter.

A Simple and Secure Credit Card-Based Payment System

2010 ◽  
pp. 834-842
Author(s):  
Chi Po Cheong
Keyword(s):  
Private Information ◽  
Credit Card ◽  
Financial Institution ◽  
Payment System ◽  
The Internet ◽  
Sensitive Information ◽  
Payment Systems ◽  
Credit Card Number ◽  
Card Number ◽  
Card Payment

Credit card is the most popular payment method used in Internet shopping. The idea of credit card payment is to buy first and pay later. The cardholder can pay at the end of the statement cycle or they can pay interest on the outstanding balance. Therefore, there are many credit card-based electronic payment systems (EPSs) that have been developed to facilitate the purchase of goods and services over the Internet such as CyberCash (VeriSign), iKP (Bellare, Garary, Hauser, et al, 1995), SET (Visa and MasterCard, 1997), CCT (Li & Zhange, 2004), and so forth. Usually a credit card-based EPS involves five parties: cardholder, merchant, acquirer bank, issuer bank, and financial institution. Internet is an open system and the communication path between each other is insecure. All communications are potentially open for an eavesdropper to read and modify as they pass between the communicating endpoints. Therefore, the payment information transmitted between the cardholder and the merchant through Internet is dangerous without a secure path. SSL (Zeus Technology, 2000) is a good example to secure the communication channel. Besides the issue of insecure communication, there are a number of factors that each participant must consider. For example, merchant concerns about whether the credit card or the cardholder is genuine. There is no way to know the consumer is a genuine cardholder. As a result, the merchant is incurring the increase in losses due to cardholder disputes and frauds. On the other hand, cardholders are worried about the theft of the privacy or sensitive information such as the credit card number. They don’t want any unauthorized usage of their credit cards and any modification to the transaction amount by a third party. These security issues have deterred many potential consumers from purchasing online. Existing credit card-based EPSs solve the problems in many different ways. Some of them use cryptography mechanisms to protect private information. However, they are very complicated, expensive, and tedious (Xianhau, Yuen, Ling, & Lim, 2001). Some EPSs use the Certificate Authority (CA) model to fulfill the authentication, integrity, and nonrepudiation security schemes. However, each participant requires a digital certificate during the payment cycle. These certificates are issued by independent CAs but the implementation and maintenance cost of this model is very high. In addition, the validation steps of Certificate-based systems are very time-consuming processes. It requires access to an online certificate server during the payment process. Moreover, the certificate revocation list is a major disadvantage of the PKI-based certification model (The Internet Engineering Task Force). The cardholder’s certificate also includes some private information such as the cardholder’s name. The requirement of a cardholder’s certificate means software such as e-Wallet is required to be installed on the cardholder’s computer. It is the barrier for the cardholder to use Certificatebased payment systems. To solve this problem, Visa Company has developed a new payment system called Verified by Visa (VbV) (http:www/visa-asia.com/ ap/sea/merchants/productstech/vbv_implementvbv. shtml). However, sensitive information such as credit card number is still passed to the merchant. Therefore, the cardholder is not protected by the system.

The impact of security control on business-to-consumer electronic commerce

2001 ◽  
Vol 20 (2) ◽  
pp. 139-147
Author(s):  
Kuo Lane Chen ◽  
Huei Lee ◽  
Bradley W. Mayer
Keyword(s):  
Electronic Commerce ◽  
Credit Card ◽  
The Internet ◽  
Electronic Payment ◽  
Payment Systems ◽  
Internal Security ◽  
Control Techniques ◽  
Security Control ◽  
Business To Consumer ◽  
The Impact

The purpose of this paper is to study the security control techniques and its impact on Internet purchasing and electronic commerce. Various security-control techniques for e-commerce are: (1) authentication (2) encryption (3) electronic payment systems (4) internal security management, and (5) non-electronic payment options. A survey from three universities in three different states was conducted. Results suggest that students have general knowledge about security techniques used by businesses but they are not as familiar with electronic payment systems. Students, however, prefer entering credit card information on the Internet after they decide to purchase a product via the Internet.

Electronic Payment Systems in Electronic Commerce

2020 ◽  
pp. 114-139
Author(s):  
Rana Atabay Kuscu ◽  
Yasemin Cicekcisoy ◽  
Umit Bozoklu
Keyword(s):  
Electronic Commerce ◽  
Web Sites ◽  
Payment System ◽  
The Internet ◽  
Electronic Payment ◽  
Payment Systems ◽  
Payment Methods ◽  
Digital World ◽  
Technological Advances ◽  
Block Chaining

Technological advances and correspondingly the spreading usage of the Internet have significantly changed commerce, and also the concept of money has become more abstract. Customers with the help of the technological advances don't have the necessity of cash money, and consumers/firms tend towards alternative payment methods. At this point, electronic commerce (e-commerce) web sites have started to use block chaining payment methods. In this digital world, new payment technologies have started to spread far and wide thanks to fast improvements in payment technologies, and they offer different options in payment methods. Each electronic payment (e-payment) system has some advantages; however, each of them has some disadvantages as well. The aim of this study is to investigate the e-payment systems which are different from traditional payment methods.

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