E-COMMERCE PRESENTATION

DIGITAL PAYMENTSSUBMITTED BY---ROHIT SINGH MEENA (243) MANISH KUMAR (245) AND AVINASH SINGH (372) B.COM (HONS.), SECTION-2ND

2ND YEAR , HANSRAJ COLLEGE

As the world is rapidly changing people are finding new technology to easier their daily life and for make them more comfortable. Every thing is converting into digitalization and digital world where every thing is connected to each other.

The internet is a global network of inter-connected. Devices , where one device can be connected to another device in any portion of the world. Internet is available in all major villages , towns, cities, of almost all country.As the internet is spread the uses of internet is also , now even you can book anything from small products to large products.

Digital payments

Entertainment

Mobile commerce

Net banking

DIGITAL PAYMENTDigital payment system is a payment system in which the payer, payee, or both use an electronic medium in a payment transaction. In this system payment is done through internet connection.Digitalization is changing the payment landscape fast with new transaction types, payment methods, channels and technologies.The explosive adoption of smartphone and mobile internet in India has fuelled the growth of digital payment industry further.

In 2014,India is going to take down a barrier of digital payment industry’s growth rate of 40% and the industry will touch a mark of INR 120,120 . Last year the industry outgrew to INR 85,800 Crore (US$ 14.3 billion), according to the latest IAMAI report titled INR 85,800 Crore Digital Money.

TYPES OF DIGITAL PAYMENTSDIGITAL PAYMENT SYSTEM

DIGITAL WALLETS

DIGITAL CASH

ONLINE STORED VALUE SYSTEM

DEBIT/ CREDIT CARD

SMART CARD SYSTEM

It refers to an electronic device that allows an individual to make electronic commerce transactions. bank account can also be linked to the digital wallet.

Digital Cash refers to a system in which a person can securely

pay for goods or services electronically without

involvement of bank to the transaction.Stored value system are a form

of electronic payment technology. They coexist with credit and debit technology

and principally target the low value transaction.These cards are mostly using

for online shopping . These types of card was generated to

make payment easier and more convenient for online

consumer. Smart card has a small microprocessor chip

embedded in it . It is also used to store money which is reduced as per usage.

Example-SIM card , metro card.

Digital Cash refers to a system in which a person can securely pay for goods or services electronically without necessarily involving a bank to mediate the transactionElectronic money is broadly defined as an electronic store of monetary value on a technical device that may be widely used for making payments to undertakings other than the issuer without necessarily involving bank accounts in the transaction, but acting as a prepaid bearer instrument.

Important properties of a Digital Cash systemSecurity: The most important feature of a Digital Cash system is that it should ensure a high-level of security through sophisticated authentification techniques, Which means it should not be copied or reused by the payer, the payee or anyone else. Anonymity: It should be able to maintain the anonymity of the person, i.e the transaction carried out should not be traceable. Portability: The use of such a system should be independent of the location. The transactions can be carried over computer networks and into storage devices and vice versa. Tranferability: The user can spend the money received in payment without having to contact a bank for authentication Divisibility: This allows the digital cash to be sub-divided into smaller denominations and the customer can choose to spend only a part of it. User friendly: Both the payer and payee should be able to use it with ease which would make it widely acceptable.

Types of Digi CashDigital Cash

Identified Digital Cash Anonymous Digital Cash

Online identified digital cash

Offline identified digital cash

Online anonymous digital

cash

Offline anonymous digital

cash

Online digital cash means interacting with a bank, either

via a modem or network, in order to transact with a third party. These

transcation can easily be identified

identified offline digital cash, the trail can always be traced

and the bank will always know who

bought what, where, and when. And if the bank knows - the tax

man does too

For Online anonymous digital

cash blinding signatures are

used .this is done by multiplying the

message by secret numbers called

(blinding).

anonymous digital cash can only be

traced if the digital cash is duplicated

and spent. If this is not the case then

the original spender cannot be

determined

NEAR FIELD COMMUNICATIONNear-field communication (NFC) is a set of communication protocols that enable two electronic devices, one of which is usually a portable device such as a smart phone, to establish communication by bringing them close to each other. For this the concept of radio frequency identification(RFID)

Now what is RFID so, it is a technology that does communication through radio waves, that exchanges data Between an electronic tag put on an object and a reader.

Modes of operation

Active mode Passive modeActive—Both initiator and target device communicate by alternately generating their own fields. A device deactivates its RF field while it is waiting for data. In this mode, both devices typically have power supplies.

Passive—The initiator device provides a carrier field and the target device answers by modulating the existing field. In this mode, the target device may draw its operating power from the initiator-provided electromagnetic field, thus making the target device a transponder.

STRENGTHS1.Liquidity2.Mobile

3.Time saver4.Security

5.interactive

WEAKNESSES1.Fragile

2.Exhaustible3.Cyber breach4.Identify theft5.Untraditional

OPPORTUNITIES1.New markets2.Cell carriers

3.e-wallats4.New security

measures5.Personalised fair

information practices

THREATS1.Laws and regulations2.consumer privacy and

data security3.Consumer freedom

4.payment data scraping

5.Limit phone usage

SWOT ANALYSIS OF

NFC

ULTRACASH was launched in october 2015 by IIT banaras hindu university .It enables the consumers to simply pay the retail merchants from their mobile without loading money. At the cash counter, just reach for your phone and place it near the Merchant's phone! The App will account for all credits, cash-backs, discounts and make your bill. All you have to do is press 'Pay'. Ultracash is a winner in the mbillionth award 2016

UltraCash is based on patent-pending technology developed in India. It uses very high frequency and inaudible sound waves for data transfer between two mobile devices. As the technology uses the phone’s speaker and microphone, it works on all phones there is no need of any special hardware. In other words the technology makes NFC (near field communication) based payment possible from smart phones irrespective of the model and make.

TECHNOLOGY

SecurityUltracash's set up, software and security framework are certified as PCI-DSS compliant . The Payment Card Industry (PCI)- Data Security Standard (DSS) ensures that all data inside Ultracash application is handled with the highest level of security standard and practices available in the industry. Ultracash is also validated by the leading banks and security audit agencies for it's data privacy, protection and security. The payment authorization is as per RBI guidelines and provides the maximum protection to the payer with two factor authentication.

Ultracash is secure, convenient and reliable. It is an all-in-one payment solution that allows you to use your mobile phone to make payment at restaurants, retail stores, cabs – pretty much everywhere you go.Its next-gen features:

• no wallet, cash or card• no need of transfer money to phone wallet• quick & fast and easy to use• locate and talk to merchants•Get credit, offers, loyalties.

• support all major banks and cards• no need of internet• recharge the mobile• pay bills• works on all smart phones

FEATURES OF ULTRA CASH

CONCLUSIONPeople wants that their life should be easier so, they adopt new technology and new methods to reduce their work . Digital cash is the future generation cash because everyone is converting towards digitalization and people need comfort.

They uses net banking , e-wallets, ultracash , paytm, mobiquick and other apps so that their transaction quality , security and comfortability can be increases.

there are three principal drivers which are influencing this innovation in consumer payment:1).Advances in technology and adoption of mobile device2).The imperative for businesses to respond to the needs of their consumer.3).Regulatory Pressures

Ultracash want to remove wallets that’s why they advertise that “ultracash is here to replace wallets with your phone. All you need is your phone! Live the ultra life”It can be possible that in 50 years everyone will have just their phones to pay everything in the market and wallet and purse will be forgotten.

• https://www.betterthancash.org/tools-research/toolkits/payments-measurement/focusing-your-measurement/introduction• https://www.google.co.in/search?q=digital+transaction+survey&client=firefox-b-ab&biw=1366&bih=657&source=lnms&tbm=isch&sa=X&ved=0ahUKEwjNy5nEn4fPAhUDwI8KHQRFAfkQ_AUIBygC#tbm=isch&q=survey+of+digital+users&imgrc=_• http://dazeinfo.com/2014/05/25/digital-payment-industry-india-reached-inr-85800-2013-net-banking-still-favourite/• http://www.tutorialspoint.com/e_commerce/e_commerce_payment_systems.htm• http://ndcommerce.in/modes-of-payments-for-ecommerce-in-india/

• http://image.slidesharecdn.com/mis10-electronicpaymentsystem-110216032512-phpapp01/95/mis-10-electronic-payment-system-5-728.jpg?cb=1297826774• http://en.ecommercewiki.info/payment/electronic_options/online_stored_value_systems• http://www.sqa.org.uk/e-learning/ECIntro02CD/page_24.htm• https://www.google.co.in/search?client=firefox-b-ab&biw=1366&bih=657&tbm=isch&sa=1&btnG=Search&q=ultra+cash+user+survey#imgrc=AfYA87uhmSYigM%3A• https://m.ultracash.com/security.html

Reference related to any data which is used in this presentation , their url are given below:-