Using Payment Gateways to Maintain Privacy in Secure Electronic Transactions

Because many current payment systems are poorly implemented, or of incompetence, private data of consumers such as payment details, addresses and their purchase history can be compromised. Furthermore, current payment systems do not offer any non-repudiable verification to a completed transaction, which poses risks to all the parties of the transaction -- the consumer, the merchant and the financial institution. One solution to this problem was SET, but it was never really a success because of its complexity and poor reception from consumers. In this paper, we introduce a third party payment system that aims to preserve privacy by severing the link between their purchase and payment records, while providing a traceable transaction that maintains its integrity and is non-repudiable. Our system also removes much of the responsibilities placed on the merchant with regards to securing sensitive data related to customer payment, thus increasing the potential of small businesses to take part in e-commerce without significant investments in computer security

Electronic Payment Systems – Payment Gateways and Data Security Standards

The use of mobile applications has allowed electronic transactions to be made anytime, anywhere, and by anyone. The Internet has made it possible for businesses to expand their reach across the globe. As a guiding agent for purchasing decisions, social media’s proliferation has expanded businesses’ ability to generate revenue [1]. In short, e-commerce has become a mainstay in the way consumers shop. The findings related to this study are three-fold. First, a systematic and rigorous approach is applied to research the importance of Payment Gateways and the Payment Card Industry Data Security Standards in today’s electronic marketplace. Next, a quantitative survey was administered to college-level students to validate the need to expand the course curriculum. Lastly, suggestions for future studies are provided to help bridge the gap between academia and the corporate world. When combined, this information will equip students with the needed knowledge to succeed when they enter the e-commerce workforce. Keywords: Payment Gateways, Data Security Standards, Electronic Payment Systems DOI: 10.7176/JEP/12-3-21 Publication date: January 31st 2021

Credit Network Payment Systems: Security, Privacy and Decentralization

A credit network models transitive trust between users and enables transactions between arbitrary pairs of users. With their flexible design and robustness against intrusions, credit networks form the basis of Sybil-tolerant social networks, spam-resistant communication protocols, and payment settlement systems. For instance, the Ripple credit network is used today by various banks worldwide as their backbone for cross-currency transactions. Open credit networks, however, expose users’ credit links as well as the transaction volumes to the public. This raises a significant privacy concern, which has largely been ignored by the research on credit networks so far. In this state of affairs, this dissertation makes the following contributions. First, we perform a thorough study of the Ripple network that analyzes and characterizes its security and privacy issues. Second, we define a formal model for the security and privacy notions of interest in a credit network. This model lays the foundations for secure and privacy-preserving credit networks. Third, we build PathShuffle, the first protocol for atomic and anonymous transactions in credit networks that is fully compatible with the currently deployed Ripple and Stellar credit networks. Finally, we build SilentWhispers, the first provably secure and privacy-preserving transaction protocol for decentralized credit networks. SilentWhispers can be used to simulate Ripple transactions while preserving the expected security and privacy guarantees

The development and use of the Secure Electronic Transaction (SET) protocol on the internet

While still in its infancy, Electronic Commerce is growing at an exponential rate each year (Walson, 1997. p.53). Although few doubt that such growth will only continue in years to come, many people still have serious reservations about the levels of security offered by currently available applications for conducting such trade. This thesis identifies some of the key areas of concern regarding Electronic Commerce on the lnternet, and looks at the ways in which the Secure Electronic Transaction (SET) model, proposed by Mastercard and Visa, succeeds or fails in addressing these concerns. It identifies and describes the key dements and primary functions of the SET protocols in a manner that will enable students and other interested parties to understand these protocols quickly and easily

Online Real-Time Credit Card Processing Models

Although a variety of payment mechanisms have been developed over the years for online businesses, payment by credit cards remain the leading mechanism for online payments. For real-time online credit card processing, a merchant needs to install a third-party proprietary software in the merchant e-commerce server. However, many issues need to be resolved before integrating a third-party payment solution to a merchant e-commerce system. In this paper, we attempt to address the current state of the online real-time credit card processing models. We also discuss several factors such as cost, complexity and security issues related to implementing such a system

Recommendation for an E-Commerce Implementation for a Small Business

Small Business E-Commerce Solution With the prevalence of the Internet it is important for many small businesses to have a Web presence to remain competitive. For this professional project the author has researched and proposed what it would take to put together an end-to-end E-commerce solution for a small local fly-fishing company in Boulder, Colorado and made a recommendation for implementation. This included researching what was available both open source and commercially for each of the E-commerce web site components, studying the business needs, and making a recommendation for implementation. This allowed the author to pull together what has been learned throughout the Regis MSCIT E-commerce program and apply it in a meaningful way. The project will had the following scope: requirement analysis that included a recommendation for a quality E-commerce enabled web site implementation including: domain registration, web site development (prototype), software development tools, hardware, E-Payment system selection, database integration, order fulfillment, Internet Service Provider (ISP) selection criteria, marketing the site, establishing trust, security, and a support & maintenance plan

The role of intermediaries in facilitating e-government diffusion in Saudi Arabia

Recent studies of e-government activity have highlighted adoption and diffusion issues as important subjects for rating e-government success. However in developing countries inadequate resources and limited citizens’ capabilities regarding new e-government have resulted in low diffusion and adoption of e-government services. This paper examines the role of intermediaries, which can be played by a third party; in bridging the gap between e-government implementation and social reality, and looks at the roles a third party can add within the e-government services mechanism. This paper uses a case study approach in order to reflect e-government progress within the context of the Kingdom of Saudi Arabia (KSA) as one developing country. The result of this paper shows that intermediaries play an important role in the diffusion of e-services in relation to improving the availability, accessibility and enhancing privacy and security