HRM 3400 Lecture Notes - Lecture 15: Public Key Certificate, Debit Card, First Data
23 May 2018
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HRM 3400 Lecture 15 Notes – Electronic Cash
Introduction
• Following the handshake stage, data might be transferred.
• The data is always encrypted, ensuring that your transactions are not subject to
itereptio or siffig y a third party.
• Although SSL handles the encryption part of a secure e-commerce transaction, a digital
certificate is necessary to provide server identification.
• Electronic cash is an amount of money that is computerized, stored, and used as cash
for e-commerce transactions.
• Typically, consumers must open an account with an electronic cash service provider by
providing identification information.
• When the consumers want to withdraw electronic cash to make a purchase, they access
the service provider via the Internet and present proof of identity—a digital certificate
issued by a certification authority or a username and password.
• After erifyig a osuer’s idetity, the syste deits the osuer’s aout ad
redits the seller’s aout ith the aout of the purhase. PayPal, BillMeLater,
MoneyZap, and TeleCheck are four popular forms of electronic cash.
• The PayPal service of eBay enables any person or business with an e-mail address to
securely, easily, and quickly send and receive payments online.
• To send money, you eter the reipiet’s e-mail address and the amount you want to
send.
• You can pay with a credit card, debit card, or funds from a checking account.
• The recipient gets an e-ail that says, You’e Got Cash!
• Recipients can then collect their money by clicking a link in the e-mail that takes them to
www.paypal.com.
• To receive the money, the user also must have a credit card or checking account to
accept fund transfers.
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