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Title: Electronic payment systems (EPS)
Authors: Chanson, Samuel T.
Wong, Chesney
Hung, Patrick C. K.
Keywords: Electronic payment systems
Electronic commerce
Issue Date: Nov-1998
Abstract: This handbook provides an overview of the major current electronic payment systems over the Internet and comments on the future of these systems. This is an important topic because electronic commerce is projected to grow to $1 trillion by year 2010. Rapid growth of the Internet and the World Wide Web are the major factors fueling the growth of electronic commerce. The Internet and the Web provide an infrastructure for business activities around the clock and around the globe. However, one of the main obstacles to this growth is the lack of secure electronic payment systems. If electronic commerce over the Internet is to succeed, macro and micro electronic payment systems on the Internet must be developed and become secure and efficient enough to remove the public's concern that transactions over the Internet is not secure. An understanding of the current state of the art on electronic payment systems is important for businesses planning to get into electronic commerce.
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