ABSTRACT
Electronic commerce and electronic business are the inevitable mediums of exchange in an increasingly wired world. To better understand the problems and perspectives of electronic payment systems, it is wise to look at not only the current systems in place, but to also examine what the future may hold. This research work describes the characteristics of current systems in place and provides a brief analysis of how each works.
Secure electronic payment system is presented in this paper. This electronic payment system is to be secure for clients such as customers and shop owners. The security architecture of the system is designed by RC5 encryption / decryption algorithm. This eliminates the fraud that occurs today with stolen credit card numbers. The symmetric key crypto-system RC5 can protect conventional transaction data such as account numbers, amount and other information. This process can be done electronically using RC5 encryption / decryption program written by Microsoft Visual Basic 6.0. There is no danger of any data sent within the system being intercepted, and replaced. The alternative is to use the existing network, and to encrypt all data transmissions. The system with
encryption is acceptably secure, but that the level of encryption has to be stepped up, as computing power increases. Results In order to be secure the system the communication between modules is encrypted using symmetric key crypto-system RC5. The system will use simple user name, password, user ID, user type and cipher authentication mechanism for identification, when the user first enters the system. It is the most common method of authentication in most computer system.
Finally, it predicts the future of these systems and the possible changes to the current structure of economic transactions.
TABLE OF CONTENTS
TITLE PAGE
CERTIFICATION PAGE
DEDICATION
ACKNOWLEDGEMENT
ABSTRACT
CHAPTER ONE
1.0INTRODUCTION
1.1STATEMENT OF PROBLEM
1.2PURPOSE OF STUDY
1.3IMPORTANCE OF THE STUDY
1.4DEFINITION OF TERMS
1.5ASSUMPTION OF THE STUDY
CHAPTER TWO
2.0LITERATURE REVIEW
2.1CREDIT CARDS AND SMART CARDS
2.2ELECTRONIC BILL PRESENTMENT AND PAYMENT
2.3A LAYERED PROTOCOL MODEL
2.4PAYMENT PROTOCOL MODELS INCLUDES THE FOLLOWING;
2.5LIST OF INTERNET PAYMENTS SCHEMES AND PROPOSALS
BANKNET ELECTRONIC BANKING SERVICE MARKET-NET
BARCLAYNET BARCLAYCARD18
CAFE CAFE
E-CASH DIGICASH ANONYMOUS DIGITAL CASH
GREEN COMMERCE FIRST VIRTUAL
FBOI FIRST BANK OF INTERNET
LET SYSTEMS
MANUAL E-PAYMENT
IMPLEMENTATION ROAD MAP
CHAPTER THREE
METHODOLOGY FOR FACT FINDING AND DETAILED DISCUSSION OF THE SUBJECT MATTER
CHAPTER FOUR
THE FUTURE, IMPLICATIONS AND CHALLENGES OF THE SUBJECT MATTER FOR THE SOCIETY
CHAPTER FIVE
5.0CONCLUSION
5.1 LIMITATION OF THE STUDY
5.2SUGGESTION FOR FURTHER STUDY
BIBLIOGRAPHY