E C TRONI C

Reporter: Patricia Landicho

E L PAYMENT SYSTEM
Electronic payments allow customers to pay for goods and services electronically. This is
without the use of checks or cash. Normally e-payment is done via debit cards, credit cards
or direct bank deposits. But there are also other alternative payment methods such as e-
wallets and cryptocurrencies.

HOW DOES ELECTRONIC PAYMENT

SYSTEM WORK?
MERCHANT’S THE CARD CREDIT UNION BANK
BANK NETWORK

TYPES OF
ELECTRONIC PAYMENT SYSTEM
Digital cash
Systems that generate a private form of currency that can be spent at e-commerce sites

Online stored value systems

Systems that rely on prepayments, debit cards, or checking accounts to create value in an account that can be used
for e-commerce -> shopping

Digital cash
Systems that generate a private form of currency that can be spent at e-commerce sites

Digital credit accounts

Systems that extend the online functionality of existing credit card payment systems

Digital checking
Systems that create digital checks for e-commerce remittances and extend the
functionality of existing bank checking systems

REFERENCES
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Spafford, S. G. & G. (1999, February 4). Practical Unix & Internet Security. документация - unix.org.ua. https://docstore.mik.ua/orelly/networking/puis/ch18_01.htm

YouTube. (2018). YouTube. Retrieved September 22, 2023, from https://www.youtube.com/watch?v=2ytjZCtnwWg.

Junior, E. G. (n.d.). Unveiling the unprotected: Assessing the impact of unencrypted files. LinkedIn. https://www.linkedin.com/pulse/unveiling-unprotected-assessing-impact-unencrypted-guilherme-junior

Tobias, E. (2022, February 22). 5 common key management challenges (part 1 of 6). Ubiq. https://www.ubiqsecurity.com/5-common-key-management-challenges/
York, M. (2015, September 4). Electronic payment systems. ppt video online download. https://slideplayer.com/amp/6398076/

(2017). YouTube. Retrieved September 22, 2023, from https://youtu.be/vk3py9M2IfE?si=BHzsLE_-qEIT0GnR.

Symmetric Encryption. Symmetric Encryption - an overview | ScienceDirect Topics. (n.d.).https://www.sciencedirect.com/topics/computer-science/symmetric

encryption#:~:text=Symmetric%20encryption%20uses%20a%20single,kept%20secret%20from%20third%20parties