Creator of Knowledge
Information Resources Management Association
Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

Electronic Payment

Electronic Payment
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Author(s): Marc Pasquet (GREYC Laboratory (ENSICAEN – Université Caen Basse Normandie - CNRS), France), Sylvain Vernois (GREYC Laboratory (ENSICAEN – Université Caen Basse Normandie - CNRS), France) and Wilfried Aubry (GREYC Laboratory (ENSICAEN – Université Caen Basse Normandie - CNRS), France)
Copyright: 2009
Pages: 8
Source title: Encyclopedia of Information Science and Technology, Second Edition
Source Author(s)/Editor(s): Mehdi Khosrow-Pour, D.B.A. (Information Resources Management Association, USA)
DOI: 10.4018/978-1-60566-026-4.ch212


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Money has two main forms nowadays: the fiduciary money (coins, banknotes…) and the scriptural one (electronic or virtual). To pay goods, both are used. The electronic money, one specific form of the scripting money, is more and more used everywhere in the world. Electronic payment has many particularities: specific infrastructure, equipment, and software, new forms of regulations, technical agreements, normalizations, fraud limitations… The objective of this chapter is to present a general overview of electronic payment. The background section presents its historical evolution. In the main thrust, the chapter focuses first on the general architecture of electronic payment. Second, different authorization mechanisms for the processing of the banking transaction and for fraud prevention are detailed. Future trends stress the different research topics that should be investigated, especially concerning the SEPA program (Single Euro Payments Area), which will harmonize bank payment systems in Europe through 2012.

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