Faculty Scholarship 1994 - Present

Electronic-Commerce Payment Transactions: Global Differences

The level of business-to-consumer electronic commerce has grown quite rapidly in most of the developed countries of the world. However, the way in which consumers pay for the goods that they purchase varies greatly around the globe. This chapter discusses the major Internet payment mechanisms currently in use, i.e., credit cards, debit cards, smart cards, and electronic cash, and explores some of the reasons for their regional popularity. It also explains the two main protocols that are sued for processing these payment transactions, i.e., secure sockets layer (SSL) and secure electronic transactions (SET).