Secure Payments - Introduction

What is Secure Payments?
Secure Payments is a protected payment terminology which allows customers and users to complete online transaction without having risk of leaking confidential payment information.

What does Secure Payment used for?
Secure payment is the establishment of E-Commerce [e-commerce link here] and secure payment pave the road for Online Shopping, electronic Transaction and payments. Some examples for Secure Payment case is Alipay [Alipay Link] which used by Taobao, Paypal [paypal link] which linked to Ebay, Apple Pay [Apple Pay link] which cooperated with in shop purchase. With secure payment, real time online transactions can be made.

Technologies used in Secure Payments
Secured Payments are based on Modern Credit Card Technology including Visa, Mastercard, Union Pay.
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To achieve the secure feature, verification is required in a secured payment. Banking Authorization is the first step. When a payment is made, commerce send request to bank and ask for authorization including following information provided by customer:
Verification Information
Card Number
CVV
Billing Address
Holder’s Name
Next step, Card Association is involved including Visa, Mastercard, Amex, JCB, Union Pay. In general, card association is an intermediator between commercials and banks, recording transaction information and clearing process. Card association features coded message communication, POS terminal (Point of Sale), Commercial terminal, and Secure communication.
Here is a image shows the process.
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Meanwhile, Encryption is employed to ensure the secure information communication between banking organization and commerce.

Case Studies

Alipay
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Paypal
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WeChat Pay
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Apple Pay
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Venmo
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