E-commerce capabilities assessment: -security of e-payment systems- case of the democratic republic of congo

II.8.3. Stored-value card

Stored-value card looks like a credit/debit card and function like credit/debit card, however it has a currency value (amount) preloaded in the electronic chip or magnetic strip.

Same security concerns as for the credit card systems must be addressed for this e-payment system.

. II.8.4 E-checking

E-check is a valid electronic copy of the paper check which contains all information contained on the paper check; however it requires a special infrastructure to be in place.

The processing of e-check is done by an Automatic Clearing House (ACH) which has its Information system connected to the different banks.

Figure 9: E-checking processing using Authorize.net
Source: Turban et al. 2008, p 567

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E-check security

As for the manual check, e-check security concern is the fraud. The system must make sure that the check is signed by the authorized person and the bank account has sufficient amount of money to pay the transaction.

E-check payment system security will consist mostly on:

? digital signature and validity of e-check

? authorization of the transaction

? security of the transaction

? verification of the availability of the amount

? Effective policy to drive the ACH.