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

CHAPTER TWO

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

BIBLIOGRAPHY