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E-Commerce Payment System

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by

Ymin Teo

on 5 May 2014

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Transcript of E-Commerce Payment System

Traditional Payment System
involves a buyer-to-seller transfer of cash or payment information

include cash, checks, credit and debit cards.

Electronic Billing Presentment and Payment (EBPP)
Online payment systems for monthly bills.
30 % + of households in 2010 used some EPBB, excepted to continue to grow.
2 competing EPBB business models:
Biller- direct (dominant model).
Consolidator
Both models are supported by EBPP infrastructure providers.

Major E-commerce Payment Mechanisms
E-Commerce Payment System
What is E-commerce Payment System ??
subset of an e-commerce transaction
include electronic payment for buying and selling goods or services offered through the Internet
E-Commerce Payment System
1. E-Cash
Features of traditional payment system
1. Cash
the most commonly used form of payment
through face-to-face exchange in the market
no transaction costs
2. Cheque
drawn by a customer on his/her bank
cheque must be signed by customer
cheque must mention exact amount to be paid

3. Credit Card
A alternative to cash
Credit Limit
Regular charges of credit car
Bonus point and gifts
4. Debit Card
A type of prepaid card
Instant cash withdrawal from an ATM
Alternative for cash transactions

1. Electronic Funds Transfer at Point of Sale (EFT/POS)
Use of plastic cards in terminals on merchants' premises
Debit-card transactions
Credit-card transactions
2. Direct Data Entry Transaction
Provides a less circuitous path for transaction data
Direct credit
Direct debit 

3. Financial Electronic Data Interchange (F-EDI)
computer-to-computer exchange of payment
payment-related information between companies using a standard format
always involves a bank
consists of two distinct segments:
Originators 
Receivers

4. Stored Value Card
Similar to a debit card
Included a fix amount of money that can be withdraw from the corresponding account
Example: Gift card or pre-loaded debits cards
5. Electronic Cash
A digital representation of money
Example:
Computer e-cash
Mobile telephone-based e-cash
Prepaid cards

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E-Star Team
transactions between customers
transferred directly and to the participating merchants and vending machines
secure and convenient alternative to bills and coins
operates on a smart card(includes an embedded microprocessor chip)
no personal identification number (PIN) codes

2. Digital Wallet (e-wallet)
secure, convenient, and portable tool for online shopping
Store e-checks, e-cash and credit card information.
Example: Microsoft Wallet

3. E-Check
Electronic version of a paper check
high-security, speed, convenience, and processing efficiencies

4. Mobile Payment
use cell phone to make purchases
sends a payment request via text message
If the vendor has the mobile billing capability, the consumer's mobile account or credit card is charged for the purchase.
How to set up?
download software package from cell phone company's website, link credit card or mobile billing information to software.


Separates electronic bill delivery from electronic bill payment.
Support enrollments, customer preference record & access authentication.
Makes online payment as easy as sending email.
Timely presentment of collection & reminder notices, delivered as secure electronic documents directly into the customer’s inbox.

The Features and Function of EBPP:
Q&A
Provide the option of if a customer can pay by credit or only electronic check (ACH).
Option to send additional reminders via mobile phone text messaging (SMS).
Stop Payment & Refund Payment capabilities.
Full transcript