• International Commerce and Information Review
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• v.10 no.1
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• pp.139-154
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• 2008

This research want to discuss some issues about payment system of America. This research focuses on comparing ACH with Fedwire. Firstly Fedwire is the payment system for only large-dollar transfer(Large-Value Transfer System; LVTS), while ACH(Automated Clearing House)payment mainly applies a consumer account. Secondly ACH transaction is either credit or debit transfer, while Fedwire is only credit transfer. Thirdly the communication system of Fedwire has twoway method, telephonelike communication network, but ACH is oneway store and forward electronic mail. At present LVTS divides into RTGS(Real-Time Gross Settlement) and DNS(Deferred Net Settlement). However Fedwire uses either RTGS(instantaneous for every transaction) or DNS(net net transaction) but ACH uses only DNS(net net transaction). Fourthly ACH is substantially cheaper than the Fedwire payment. lastly security is important in both Fedwire and ACH, it is even more crucial in Fedwire In addition, for each transaction, Fedwire may entail individual instantaneous confirmation to the originator and notification to the receiver, whereas ACH do not.

• Journal of Korea Society of Digital Industry and Information Management
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• v.8 no.2
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• pp.213-227
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• 2012

Recently MVNO has been adopted to reform the monopoly structure of mobile telecommunication industry in Korea. MVNO is expected to not only enable mobile telecommunication industry more free, but also provide various welfare service with customers, in particular mobile payment system service. Based on TAM, this paper is to investigate the affecting factors of intention to use of mobile payment system service in MVNO environment. The results indicate that all system quality factors are significantly related to both perceived usefulness and perceived easy of use, but only stability of service quality factor is significantly related to the perceived usefulness. Perceived easy of use was found to be siginificantly related to the intention to use of mobile payment system in MVNO environment, but percevied usefulness was not.

• Journal of the Korea Society of Computer and Information
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• v.10 no.3 s.35
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• pp.189-199
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• 2005

Now it is increasing the necessity for micropayment system according to activation for trade on internet. Because of the reason, it is requesting safety for personal information as well as for payment cost. But current micropayment systems cannot support anonymity or have heavy overheads in payment process. This paper suggests a micropayment system to keep anonymity of users and also to keep payment cost safe. The proposed system is to use blind signature anonymous ID which is combined nonce with an encryption of personal information. It also keeps payment cost of users by reconfirmation payment cost and product from certification and increases the computational efficiency by using secret key and session key instead of public key.

• The Journal of the Korea institute of electronic communication sciences
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• v.15 no.6
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• pp.1031-1036
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• 2020

Untact marketing emerged as one of the top 10 marketing in 2018. Since then, the scale of the mobile payment market has expanded, and the ratio of payment through mobile is melting into life even offline. Various mobile apps such as Samsung Pay and Smart Order are already popular systems, and various other mobile payment systems are increasing. For such mobile payments, this paper aims to comprehensively design a general-purpose untouched offline payment system by designing a mobile payment system that applies a short-range wireless communication method along with a study on the currently available mobile payment-linked API. We propose an offline payment system with an untouch method to prevent the spread of infectious diseases and contribute to a healthy society by solving the problem and minimizing contact with others in the current situation like the Corona 19 Incident.

• Journal of Korea Society of Industrial Information Systems
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• v.7 no.4
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• pp.59-65
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• 2002

Payment systems in EC need confidentiality, integrity, non-repudiation. All transactions between cardholders and merchants must be authorized by a payment gateway in SET protocol. RSA secret key operation which requires heavy computation takes the most part of the time for payment authorization. For the reason, a heavy traffic of payment authorization requests from merchants causes the payment gateway to execute excessive RSA secret key operations, which may cause the bottleneck of the whole system. To resolve this problem, One-Time Password technique is applied to payment authorization step of the SET protocol.

• Journal of Multimedia Information System
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• v.3 no.2
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• pp.13-20
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• 2016

Biometric authentication for account-based mobile payment continues to gain attention because of improvements on sensors that can collect biometric information. We propose an enhanced method for mobile payment security based on biometric authentication. In this mobile payment system, the communication between the user and the relying party is based on public key infrastructure. This method secures both the key and the biometric template in the user side using fuzzy vault biometric cryptosystems, which is based on non-random chaff point generator. In this paper, we consider an important process for the common fuzzy vault system, that is, the feature extraction method. We evaluate various feature extraction methods to enhance the accurate performance of the system.

• Korea Trade Review
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• v.44 no.3
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• pp.191-202
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• 2019

Despite innovative efforts to accommodate changes in the payment environment, the new types of settlement risks that are emerging require preemptive and proactive responses. Therefore, Korea should complement and develop large-value funds payment system operation and risk management policies by introducing international standards and linking with advanced financial institutions. This study examines the major issues such as the development process and characteristics of the large-value funds payment system of the two countries, the operation policy of the central bank, and the risk management policy by comparing the US Fedwire with the Korea Bok-Wire+. In addition, policy implications are suggested for efficient operation and development of Bok-Wire+.

• International Commerce and Information Review
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• v.11 no.1
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• pp.27-43
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• 2009

This article explored the customers protection regulations in electronic payment system by Article 4A of the UCC and EFTA of 1978 and by Electronic Financial Transaction Act of Korea. Both Korea and America have various regulations to protect concerned parties(customers). For examples, the errors of payment order, money-back guarantee, and unauthorized payment order etc. First, this Article focuses on the allocation of risk of loss caused by ambiguous term in payment orders that do not express the subjective intention of the senders. Second, most rights and obligations created by Article 4A of America can be varied with the agreement of affected parties. But there are some exceptions. The exceptions include the money-back guarantee. So Receiving bank have to pay to originator the ordered money included interest. However, Korea also has money-back guarantee but bank do not pay interest to sender. Lastly, Electronic Funds Transfer Act of 1978 and Regulation E has US$ 50 regulation in order to protect customers on the unauthorized payment order. Article 4A imposes duty to detect unauthorized payment orders to originator in relation to the establishment of commercially reasonable security procedure, while Korean law imposes the duty to notify the bank in order to decrease the loss resulted from unauthorized payment order.

• Journal of Convergence Society for SMB
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• v.5 no.3
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• pp.15-20
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• 2015

There have been consumer needs for mobile payment system due to the rapid increase in the number of smartphones and the use of them. In tum, the market has been expanding as IT companies begin to participate in the mobile payment system business. Moreover, since the system supports better services not only covering payment service but also interworking with various apps in devices, it has been maximizing the consumer convenience. Although the convenience increased due to the mobile payment system, the vulnerability in security also increased; and smartphone users have been afraid of using the mobile payment system. This study is to examine Samsung Pay and Apple Pay, to present the vulnerability, and to suggest a countermeasure.

• The Journal of Information Technology
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• v.2 no.1
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• pp.35-52
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• 1999

This study introduced the new technologies that are expanding the realm of electronic commerce to the Internet and small business. Each of the key components of electronic commerce(contracts, signatures, notaries, payment systems and adult trails)are supported in the new electronic commerce. Electronic commerce is more than just handling purchase transactions and funds transfers over the internet. Despite Electronic commerce's past roots in transactions between large corporations, banks, and other financial institutions, the use of the internet as a way to bring Electronic commerce to the individual consumer has led to shift in viewpoint. Over the past few years, both the press and the business community have increased their focus on Electronic commerce involving the consumer Effective payment system should be established for the internet commerce. In this study, we examined the current development and application of Electronic payment system. Two different payment systems are used and under application. One is IC-card type of payment system which has gained popularity in England, Hong-Kong, and many other countries as a substitution of cash. The other type of payment system is e-cash, which is used more conveniently for the payment through internet. The question of which method is better fitted for the internet commerce should be evaluated in the view of cost and benefit since the associated technology is still under evolution. This study conducted a study on Secure Payment Method & Security Technology of Electronic Commerce