《Electronic Payment Systems电子支付系统》由会员分享，可在线阅读，更多相关《Electronic Payment Systems电子支付系统（24页珍藏版）》请在金锄头文库上搜索。
1、Electronic Payment SystemsOutline Types of money Fiduciary v. scriptural Token v. notational Types of payment systems Cash Credit cards SSL (TLS) protocol Intermediaries PayPal Smart cards Electronic Bill PresentmentTypes of Money: Fiduciary vs. Scriptural Fiduciary money (fiat money, legal tender)
2、Issued by a central (government) bank Has real “discharging power” (to discharge debts) Cannot be refused Scriptural money (not legal tender) Money not issued by central bank Examples: bank accounts, travelers checks, gift certificates, scrips Discharging power based on trust in issuer Can be refuse
3、dTypes of Money: Token vs. Notational Token money (value represented by physical article) Represented by a physical article (e.g. cash, gift certificate, travelers check) Can be lost Notational money (value held in account balance) Examples: bank accounts, frequent flyer miles Transferred by order R
4、equires clearance (determining net effect of multiple orders) Requires settlement (payment in fiduciary money) Hybrid money Check, telephone card (carries promise of future service)Cash Transaction1. BUYER PHYSICALLYGIVES CASH TO SELLERBUYERSELLERTHE VISIBLE TRANSACTION-2. CENTRAL BANK ISSUESFIDUCIA
5、RY MONEY(ANTI-FORGERY) +(SERIAL NUMBERS)-1. CENTRAL BANK SELLSCASH TO BUYERS BANK0. BUYERS BANK ALLOWSBUYER TO DRAW CASHFROM BUYERS ACCOUNT2. SELLER DEPOSITSCASH IN SELLERSBANK ACCOUNT3. SELLERS BANKCREDITS SELLERSBANK ACCOUNT4. SELLERS BANKSENDS CASH TOCENTRAL BANKCENTRAL BANKBUYERS BANKSELLERS BAN
6、KEcommerce Payment RangesMaximum Maximum TransactionTransaction ValueValueTypicalTypical TransactionTransaction ValueValueMinimumMinimum TransactionTransaction ValueValueMini $10.00$0.10$1.00Macro $5.00$50.00Micro $0.001$1.00$0.01SOURCE: COMPAQ CORP.Types of Payment Systems Credit card SSL, SET prot
7、ocols Payment orders, direct transfers, checks Automated Clearing House (ACH) Online Banking Wingspan Intermediaries PayPal Stored-Value Cards, Smart Cards, Wallets Mondex OctopusTypes of Payment Systems Micropayment (usually below $0.10) Millicent Aggregation Centralized account for merchants + cus
8、tomers (Qpass) Digital Scrip Flooz, Beenz (both now bankrupt) Electronic Cash eCashCredit Cards The most expensive ePayment mechanism MasterCard: $0.29 + 2% of transaction value A $100 charge costs the merchant $2.29 Currently the most convenient method Advantage: allows credit People can buy more t
9、han they can afford Disadvantages: doesnt work for small amounts (too expensive) doesnt work for large amounts (too expensive)Parties to a Credit Card TransactionBUYERS BANKSELLERS BANKBUYERSELLERCARD ASSOCIATIONCARD, TELEPHONE, INTERNETDIALUP OR LEASED LINEU.S. MAIL!PROPRIETARY NETWORKSecure Socket
10、s Layer (SSL)if it has oneSOURCE: WEB SECURITYPayPal Pay anyone, anywhere via email Draws funds from users bank account, places credit hold on credit card for guarantee 16 million users Bank of America has 3.3. million Accounts insured up to $100,000 Based on automated clearinghouse Withdraw funds a
11、nytime, or send to someone else Mobile payments (WAP)PayPalACCOUNT HOLDER AACCOUNT HOLDER AS BANKACCOUNT HOLDER XPAYPAL ACCOUNT A . . . ACCOUNT XACCOUNT HOLDER XS BANKACH PROCESSORACCOUNT HOLDER AS CREDIT CARDINTERNETEMAILPAYPALS BANK1. A PAYS X VIAPAYPAL (A HASENOUGH IN PAYPALACCOUNT)6. PAYPAL NOTI
12、FIESX OF PAYMENT. XCHOOSES PAYMENTMETHOD2. OR: PAYPALCHARGES XSCREDIT CARD3. OR: PAYPALINITIATES ACHDEBIT4. FUNDS AREDEPOSITED INPAYPALS BANK7. OR: PAYPALINITIATESACH CREDIT5. PAYPAL CREDITSXS PAYPAL ACCOUNT8. OR: PAYPAL MAILS CHECK TO XSmart Cards Magnetic stripe 140 bytes, cost $0.20-0.75 Memory c
13、ards 1-4 KB memory, no processor, cost $1.00-2.50 Optical memory cards 4 megabytes read-only (CD-like), cost $7.00-12.00 Microprocessor cards Imbedded microprocessor (OLD) 8-bit processor, 16 KB ROM, 512 bytes RAM Equivalent power to IBM XT PC, cost $7.00-15.00 32-bit processors now available Intell
14、igent, active devices with defensesSmart Card Applications Ticketless travel: Seoul bus system 4M cards, 1B transactions since 1996 Authentication, ID Medical records Ecash Store loyalty programs Personal profiles Government Licenses Mall parking. . . Smart Card StructureContacts (8)SOURCE: SMART CA
15、RD FORUMEpoxyMicroprocessorContacts Card (Upside-down)Contacts:Mondex Smart-card-based, stored-value card (SVC) Subsidiary of MasterCard NatWest (National Westminister Bank, UK) et al. Secret chip-to-chip transfer protocol Value is not in strings alone; must be on Mondex card Loaded through ATM ATM does not know transfer protocol; connects with secure device at bank Spending at merchants having a Mondex value transfer terminalMondex OverviewSOURCES: OKI, MONDEX USAMondex Components (Hitachi)Cashless ATMElectronic Cash RegisterPCMCIA Reader/WriterElectronic WalletKe
