E-Commerce · Unit 3 · 9 hrs
Electronic Payment System
Exam-focused notes for Electronic Payment System (E-Commerce, CSC381): what the TU syllabus asks and how it has actually been tested, with 9 solved past questions from this unit.
What this unit covers
- E-payment System
- Online Credit Card Transaction
- Online Stored Value Payment System
- Digital and Mobile Wallet
- Smart Cards
- Social/Mobile Peer-to-Peer Payment Systems
- Digital Cash/e-cash
- E-Checks
- Virtual Currency
- Electronic Billing Presentment and Payment (EBPP) System
- Auctioning in E-commerce (English, Dutch, Vickery, Double)
- SET Protocol
- Features of SET
- Participants in SET
- Card Holder Registration
- Merchant Registration
- Purchase Request
- Dual Signature
- Payment Authorization
- Payment Capture
- Status of E-Payment Systems in Nepal
- Case Studies of Global and Local Payment Systems
Dual Signature
What is a dual signature? Describe the dual signature operations? How is dual signature used during purchase request operation of SET protocol?[10]
A dual signature is a special cryptographic mechanism used in the Secure Electronic Transaction (SET) protocol to link two separate messages intended for two different recipients, in such a way that: - The merchant can verify the customer's order informatio...
Full solved answer →Online Credit Card Transaction
What is an e-payment system? How do online credit card transactions work? [5]
An Electronic Payment System (EPS) is a way of paying for goods and services electronically instead of using direct cash or physical cheque. EPS simply means online transaction of values. New types of purchasing relationships (such as between individuals on...
Full solved answer →Digital and Mobile Wallet
What is a digital wallet? How does it work? Describe the payment authorization and payment capture operations of SET.[10]
--- A digital wallet (also called an e-wallet) is a type of electronic payment system that provides a user account which can be accessed through mobile applications or web browsers. It allows people to store payment credentials, pay through websites, transf...
Full solved answer →What is digital wallet? How it works? [5]
A digital wallet (also called e-wallet or mobile wallet) is a type of electronic payment system that provides a user account which can be accessed through mobile applications. People can use it to pay through websites, transfer balance, pay bills, and perfo...
Full solved answer →What is digital wallet? How it can be used in ecommerce? What issues need to be considered while designing electronic payment system?[10]
--- A digital wallet (e-wallet) is a type of electronic payment system that provides a user account which can be accessed through mobile applications or web platforms. People can use it to pay through websites, transfer balance, pay bills, and perform vario...
Full solved answer →Virtual Currency
What is virtual currency? How does it work? Mention the usages of virtual currency in e-commerce. [5]
A virtual currency is a digital representation of value that exists only in electronic form. It is stored and transacted through designated software, mobile applications, or computer applications. Virtual currencies are: - Issued by private parties or group...
Full solved answer →Digital Cash/e-cash
Describe how electronic payments are done using digital cash, e-checks, and electronic billing presentment and payment systems. List their advantages and disadvantages.[10]
An Electronic Payment System (EPS) is a way of paying for goods and services electronically instead of using direct cash or physical cheques. It simply means online transaction of values. Among the various forms of EPS, digital cash (e-cash), e-checks, and ...
Full solved answer →Auctioning in E-commerce
How auctioning is done in e-commerce? Discuss different types of auctioning. [5]
E-auctioning (electronic auctioning) is the process of buying and selling goods or services over the internet through a bidding mechanism, where the price is determined dynamically by competing buyers or sellers. It is a key feature of e-commerce, especiall...
Full solved answer →E-payment System
What is e-payment? Discuss how credit card transactions, electronic checks and stored value payment system work. Mention their pros and cons.[10]
Electronic Payment System (EPS) is a way of paying for goods and services electronically instead of using direct cash or physical cheque. EPS simply means online transaction of values. New types of purchasing relationships, such as between individuals onlin...
Full solved answer →Make Unit 3 stick
Practice CSC381 with flashcards & quizzes