ECOM6013 Topic 7 E-Payment Systems

Author: Arthur | 182 words, 1 minutes | 2020-09-27 | Category: Notes

e-commerce, ecom6013, hku

Translations: ZH

ECOM6013 E-Commerce Technologies

Topic 7 E-Payment Systems

Payment System Stakeholders' Priorities

  • Customer
    1. Low-risk
    2. Low-cost
    3. Refutable
    4. Convenience
    5. Reliable
  • Merchants
    1. Low-risks
    2. Low-cost
    3. Irrefutable
    4. Secure
    5. Reliable
  • Financial intermediaries
    1. Secure
    2. Low-risk
    3. Maximizing profit
  • Government regulators
    1. Secure
    2. Trust
    3. Protecting participants and enforcing reporting

Type of Payment Systems

  • Cash
  • Cheque transfer
  • Credit card
  • Stored value
  • Accumulating balance

B2C Payment System

  • Credit cards
  • Financial cybermediaries
  • Electronic bill presentment and payment
  • Smart cards
  • Mobile payment

Features

  • Make large purchases
  • Will not pay with credit card or financial cybermediary
  • Use financial EDI (Electronic Data Interchange)
  • Pay for many purchases at once
  • Likely that cloud-based payment gateway (or other Internet-based technology) will eventually take over completely!
  • FPS - HKMA & HKICL Payment Gateway Faster Payment System (FPS)

E-Commere Payment Systems

online_credit_transaction

  • Credit cards
  • Debit cards
  • Digital wallets
  • Digital cash
  • Digital checking
  • Online stored value systems
    • PayPal, AliPay, WeChat Pay
    • Smart cards
      • Contact
      • Contactless
        • EZPass, Octopus card
        • Radio Frequency ID (RFID)
        • Near Field Communications (NFC)

Future Payment System

  • Exporting existing payment systems that work in traditional commerce to E-Commerce causes problems
  • Need a payment/financial system designed for the online world
    • Cybercurrencies / digital currency

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Arthur

Author

Arthur

Blockchain (Golang) Developer, MSc Student in Department of Computer Science @ The University of Hong Kong (HKU). Love to learn and build things. Follow me on GitHub