ITM 350 Study Guide - Midterm Guide: Secure Electronic Transaction, Digital Currency, Electronic Data Interchange

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 350
• Professor: Franklyn Prescod

Document Summary

Issues to consider in choosing: cost per transaction and to set up, repudiability and authentication, acceptance (familiarity/ubiquity) and convenience, security (for customer and vendor)/risk of loss, confidentiality/privacy/anonymity, standards/regulations (infrastructure) underlying system. Set (secure electronic transaction) a method of securing credit card transactions using. Initiative between banks , financial institutions,visa/mc/amex and technology partners encryption and authentication technology. Requires issue of new, set-enabled credit card. Four entities: cardholder, merchant, payment gateway, certificate authority. Pki: digital certificates / digital signatures used to authenticate partners / validate transactions. Provides confidentiality via encryption, integrity and authentication of both parties via digital signatures. Memory cards - only contains memory chip allows retrieval of data. Processor cards - contains memory chip + microprocessor and can read/write data, process data, encrypt/decrypt data: smart card applications: Digitally sign set credit cards: could be used for everything that could identify or give a persons information, onesmarttm mastercard and mondex. 200 million onesmart cards issued by 2004.