e- payment solutions by emaratech at dubai tech nights

7/31/2019 E- Payment Solutions by Emaratech at Dubai Tech Nights

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E-Payment Solutions

By

Nadeem Gafoor

Senior Manager, Product & Technology Development Emaratech

[email protected]+971 50 5684052
mailto:[email protected]:[email protected]


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Agenda

Payment Services Framework

Payment methods, channels & participants

Basic System Solutions required to offer an e-Payment Services

Online Payments Providers

Mobile Payments Ecosystem and Technologies

Challenges

Security

Q & A


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Payment Services Framework


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Methods, Channels & Participants

Consumer Business BanksGovernment

End Users

Payment

Types

Cash/Check POS/Card Bill Invoice SWIFT RTGS/ACHChannels

Mail

Counter

ATM/Kiosks

Mobile

Phone

Online


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Online Payment Providers

http://en.wikipedia.org/wiki/List_of_on-line_payment_service_providers


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Mobile Payments Ecosystem and Technologies

MobilePayment

Ecosystem

BankAccount

CreditCard

TelecomBilled

Mobile Payment

Technologies

SMS

USSD

WAP/GPRS

NFCNSDT

SIM App

Device App


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Merchant challenges towards e-commerce payments

Exorbitant transaction costs for merchants by Banks and Acquirers.

Large amounts of setup and maintenance fees to pay for subscribing to a PaymentGateway provider.

Charge back liability shift on the merchant.

Merchant in a dilemma whether to put a red tape and scare away the consumer or

accept the business risks.

Delayed settlements by the banks and PSPs/Acquirers.

Last minute change in decision as most PSPs asks consumers to setup an wallet account

before making a payment, this is a loss of business for a merchant.


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Technical challenges towards e-commerce payments

No standard or common technologies to integrate with multiple payment partners, the

merchant need to implement individual PSP technologies.

Most PSPs provide a URL re-direction to their web site for accepting payments, too many

payment failures due to re-direction failures and consumer closing the browsers before

completion or timeouts.

PSPs provide SDKs to integrate with the merchant e-commerce site, sometime these

SDKs are hacked.

PCI certifications requirement if the merchant wish to hold the consumers card

information in its database.


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Security Type of Online Payment Frauds

Purchase Fraud Purchasing online through stolen credit cards.

Online Material Theft Fraudsters escape the payment and enjoy digital material on theinternet through hacking of websites, phishing of passwords, sharing or illegal copying of

a single purchased access or online service.

Identity Theft Stealing of confidential information like access details, credit card

information by merchants by selling online materials at a very low price or free if you

provide such information.

Phishing Capture confidential/payment information through false emails and websites.

Page jackingLanding to similar counterfeit web sites by clicking URLs from another

site where you will un-knowingly purchase counterfeit goods.


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Security Fraud Management Solutions

Geo-location helps unmask spammers and hackers.

Device fingerprinting tracks and identifies devices used for fraudulent transactions.

Velocity check generates an alert in case of multiple transactions in a short span of time.

Global address validation verifies billing and shipping addresses in 200+ countries


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Security Fraud Management Solutions

Geo-location helps unmask spammers and hackers.

Device fingerprinting tracks and identifies devices used for fraudulent transactions.

Velocity check generates an alert in case of multiple transactions in a short span of time.

Global address validation verifies billing and shipping addresses in 200+ countries


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Identification Technologies

Magnetic Stripe Card Smart Card Proximity Card

Mobile

Payment

NFC NSDT

ATM/Kiosks

POS/EFTPOS

Bank

Accounts/Credit

Cards

Contains a

magnetic track

Minimum

Information is

stored and can

be decoded

Requires PIN

Used as an

access ID to

retrieve

information from

host system

ATM/Kiosks

POS/EFTPOS

Bank

Accounts/Credit

Cards

A memory chipcontaining volatile

memory

Extended

Information is

stored, encrypted

and hard to decodebe decoded

Requires PIN

Used as an access

ID to retrieve

information from

host system

ATM/Kiosks

POS/EFTPOS

Bank

Accounts/Credit

Cards

Is built on RFID

technology and is

much faster.

Extended

Information is

stored, encrypted

and hard to decodebe decoded

Requires PIN

Used as an access

ID to retrieve

information from

host system

ATM/Kiosks

POS/EFTPOS

Remittances

Person 2 Person Payments


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Payment Networks

SWIFT

Interbank

Network

EFT/POS

The Society for Worldwide Interbank Financial Telecommunication ("SWIFT") operates a

worldwide financial messaging network which exchanges messages between banks and

other financial institutions.

An interbank network, also known as an ATM network, that connects the ATMs of

different banks and permits these ATMs to interact with the ATM cards of non-native

banks.

An EFTPOS network is a POS network where ATM cards are used for purchases. A

merchant wising to host an EFTPOS device must enter an agreement with the countryprovider for the EFTPOS, this is different from the Credit Card POS.

Card POSThis is a standard POS network where standard credit/debit card payments are

accepted. A merchant wising to host an POS device must enter an agreement with the

acquirer.

RTGSReal time gross settlement systems (RTGS) are funds transfer systems where

transfer of takes place from one bank to another on a "real time" and on

"gross" basis between banks within a country. Eg: UAEFTS, ACH, SARIE,

RTGS/NEFT, SEPA, KEPSS Etc.


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Thank You!

e- payment solutions by emaratech at dubai tech nights

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