Title :
An analysis and comparison of different types of electronic payment systems
Author :
Lee, Zon-Yau ; Yu, Hsiao-Cheng ; Pei-Jen Ku
Author_Institution :
Inst. of Manage. of Technol., Chiao-Tung Univ., Taiwan
Abstract :
Two parties that conduct a business transaction through the Internet do not see each other face-to-face; nor do they exchange any document or currency hand-to-hand. When electronic money is transferred from a buyer to a seller over telecommunications networks, accuracy and security is critical. This paper explores the advantages and limitations of four types of electronic payment systems: namely, the online credit card payment system, the electronic-cash payment system, the electronic-check payment system, and the smart-card-based electronic-cash payment system. Each payment system was assessed from four perspectives: the technological aspect, the economic aspect, the social aspect, and the regulatory aspect. The requirements of merchants and consumers, the appropriate business environments for each of them to function, and the potential for future expandability were analyzed. The findings of this research could be useful for companies who are planning to adopt or to devote R & D into an electronic payment system
Keywords :
credit transactions; electronic money; security of data; smart cards; Internet; accuracy; business environments; business transaction; consumers; economic aspect; electronic money transfer; electronic payment systems; electronic-cash payment system; electronic-check payment system; merchants; online credit card payment system; regulatory aspect; security; smart-card-based electronic-cash payment system; social aspect; technological aspect; telecommunications networks; Buildings; Business; Consumer electronics; Costs; Credit cards; Electronic commerce; Human computer interaction; Power generation economics; Protocols; Security;
Conference_Titel :
Management of Engineering and Technology, 2001. PICMET '01. Portland International Conference on
Conference_Location :
Portland, OR
Print_ISBN :
1-890843-06-7
DOI :
10.1109/PICMET.2001.952002