Please enable JavaScript.
Coggle requires JavaScript to display documents.
CHAPTER 11 : ONLINE PAYMENT SYSTEMS - Coggle Diagram
CHAPTER 11 : ONLINE PAYMENT
SYSTEMS
Digital Cash and Digital Wallet
advantages
Provides no audit trail; that is digital cash is just like real cash in
that it cannot be easily traced.
disadvantages
New kind of digital cash to emerge one day that would render
existing digital cash systems obsolete, making the digital cash
worthless.
e-cash is a general term that describes any value storage
and exchange e system created by a private (non-gov) entity
that does not use paper documents or coins and that can
serve as a substitute e for gov-issued physical currency
Payments Card
advantages
Payment cards provide fraud protection
disadvantages
Card service companies do charge merchants per transaction
fees and monthly processing fees for processing payments
Describe all types of plastic cards that consumers (and many
businesses) use to make purchase
Categories of payment cards
Debit cards
Prepaid cards
Gift card
Credit cards
Charge card
Online Payment
Online payment refers to money that is exchanged
electronically. Typically, this involves use of computer
networks, the internet and digital stored value systems
Online payment usually is the transaction that results in
transfer of monetary funds from the customer bank or credit card account to your bank account.
Internet Technologies and Payment System Threat
Mobile banking
Most banks today offer mobile apps that allow customers using
smartphones or tablet t devices to obtain their bank balances,
view their account statements, or find nearby ATM.
Phishing Attacks
The basic structure of a phishing attack involves an attacker who
send email ail messages to a large number of recipients who might have an account at a targeted Web site
Cheque processing
Cheque were processed physically by banks and clearing
houses
In recent, bank give access to the customer PDF images by
processed cheque to account folders