credit card &set
TRANSCRIPT
-
8/7/2019 credit card &SET
1/18
CREDIT CARDS & SET
BY
ABIRAMI.U
-
8/7/2019 credit card &SET
2/18
CONTENTSy Credit Cards
y How Does It work
y
Interest Chargesy Benefits to the Customers
y Demerits to the Customers
y Benefits to the Merchants
y Parties Involvedy Transaction Steps
y Types of Credit Cards
y SET
-
8/7/2019 credit card &SET
3/18
CREDIT CARDS
A Credit card is a small
plastic card.
It allows the holder to buy
goods and services.
-
8/7/2019 credit card &SET
4/18
CREDIT CARDS
Credit cards allow the consumers to
'revolve' their balance, at the cost ofhaving interest charged.
Its size is defined as 85.60 53.98 mm by ISO.
-
8/7/2019 credit card &SET
5/18
HOW DOES IT WORK
Credit cards are issued after an account has been
approved by the credit provider.
Then the cardholders can use it to make purchases at
merchants accepting that card.
-
8/7/2019 credit card &SET
6/18
HOW DOES IT WORK
y When a purchase is made, the credit card user agrees
to pay the card issuer. The cardholdersigns a receipt with a record of the card details andindicating the amount to be paid or by entering apersonal identification number (PIN).
-
8/7/2019 credit card &SET
7/18
INTEREST CHARGES
y Credit card issuers usually do not pay interest charges
if the balance is paid in full each month.
y But typically will charge full interest on the entireoutstanding balance from the date of each purchase if
the total balance is not paid.
-
8/7/2019 credit card &SET
8/18
BENEFITS TO THE
CUSTOMERS
Convenience
Security
-
8/7/2019 credit card &SET
9/18
DEMERITS TO THE
CUSTOMERS
y High Interest.
y Inflated Pricing for All Consumers.
-
8/7/2019 credit card &SET
10/18
-
8/7/2019 credit card &SET
11/18
TYPES OF CREDIT CARDS
y Secured Credit Cards
y Pre-Paid Credit Cards
-
8/7/2019 credit card &SET
12/18
-
8/7/2019 credit card &SET
13/18
SECURE ELECTRONIC TRANSACTIONS
The credit cards on internet requires,
Authentication of customers and merchants
Confidential transactions
-
8/7/2019 credit card &SET
14/18
-
8/7/2019 credit card &SET
15/18
PARTICIPANTS IN SET
Card Holder
Merchant Bank
Issuer
Internet
Acquirer
Payment Network
-
8/7/2019 credit card &SET
16/18
SET REQUIREMENTS
y Confidentialityy Integrity
yAuthentication
y Security by creating protocalls
y Inter-operablity
-
8/7/2019 credit card &SET
17/18
SET TRANSACTIONS1. Customer places the order
2. SET sends order and payment information to the
merchant3. Merchant forwards the payment information to the bank.
4. Bank checks for authorization of payment
5. If valid customer then the bank authorizes the payment
6. Merchant completes the order7. Merchant receives payment from the bank
8. Bank send the bill details to the card holder
-
8/7/2019 credit card &SET
18/18
MERITS OF SET
y Confidentiality
y IntegrityyAuthorization of customer and merchant by digital
signatures
y Privacy by separation of order and payment
information using dual signatures