International Journal of Scientific Engineering and Research (IJSER)
www.ijser.in
ISSN (Online): 2347-3878, Impact Factor (2015): 3.791
Volume 4 Issue 9, September 2016
Licensed Under Creative Commons Attribution CC BY
The Algorithm Analysis
of Electronic Payment
Systems
Neha Bhite
1
, Marg Aman Sharma
2
1
Student BE (CSE), Shri Shankarcharya Institute of Professional Management and Technology, Mujgahan , Raipur, India
2
Student BE (ME), Shri Shankarcharya Institute of Professional Management and Technology, Mujgahan , Raipur, India
Abstract:
The buying and selling of products and services by businesses and consumers without using any paper documents , through
an electronic medium is e-commerce. It also includes transactions over the internet that is through electronic measures. There are
various types of electronic payment systems and its issues. E-payment system can be classified into four categories: electronic cash
system, electronic cheque system, online credit card payment system and smart cards . There are few algorithms to analyze the security
levels in these electronic payments systems, and makes the transactions for the user trust worthy.
Keywords:
electronic
payment system, authentication factor
1. Introduction
Online Transactions through e-payment system is a process
of online payment of products and services with the help of
internet directly from bank using its features such that
amount of money taken forms a payer and money is given to
to payee . The two most important
things we look for in e-
payment systems are the order of information and the
payment instructions . There are certain algorithms described
in this paper that can be used to implement the security of
online transactions.
