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Digital Signature

Digital Signatures are the signatures which are generally used authenticate the contents of any type of electronic documnet which are generally sent over the web. Normally signatures are commonly used to authenticate documents, likewise we use digital signatures for electronic documnet.

Digital signatures are equivalent to handwritten signatures and stamped seals. But a digital signature is more difficult to forge than a handwritten signature.mentioned below are some of the applications of digital signatures.

  1. Authentication

A DS is generally used to authenticate the the source of messages. With the help of some secret key which can only be used by the owner, a valid signature can show that the message has been sent by that person only and in no manner he can refuse this.

  1. Integrity

Sometimes during the transmission there might be a slightest possibility that the message can be altered, so basically a Digital Signature provides a coonfidence that in no manner the content of the message has been altered.each time a message has been modified, it is to be considered to be a new message so it will be reproduced with a valid Digital Signature.

  1. Non-repudiation

repudiation generally means dissaproval of something.So with a digital Signature one cannot deny the fact that the message or document that are once digitally signed cannot in later time deny the fact of having signed it.

There are a few advantages of digital signatures over a normal signature such as :

  1. It can be worked from almost anywhere in the world and one need not to be remain present at that time.
  2. a few clicks or taps can help to approve the paperwork
  3. the best advntage of a digital Signature is that important documents which are digitally signed can be accessed from any device.

The only disdvantage in my concern would be the possibility of knowing the private key of the user. If the private key is known by someone else than there might be a possibility of forgery.

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E-commerce

E-commerce is a transaction of buying or selling online. Electronic commerce operates in all four of the major market segments business to business and business to coustomer, consumer to consumer and consumer to business. It can be thought of as a more advanced form of mail-order purchasing through a catalog. Ecommerceis the activity of doing business activities on the Internet. It refers to buying and selling products and services on the Internet through a website Faster buying/selling procedure, as well as easy to find products. The benifies of e-commerce are Buying/selling 24/7, More reach to customers, there is no theoretical geographic limitations, Low operational costs and better quality of services, No need of physical company set-ups, Easy to start and manage a business.

 

Categories of e-commerce

There are four principal categories of e-commerce:

1.) B2B:-Business to business shows how to do business with each other.

2.) B2C:-Business to customer is shows how to do business directlly with customer.B2B can earn money more easily.

3.) C2B:- Customer to business like consumer post there projects and assignments on the site.

4.) C2C:-customer to customer is where consumer sell their products to other consumers through bindding.

It’s important to have a basic understanding of e-commerce law. Online sellers, particularly those selling internationally or across state lines, face different legal and financial considerations, especially in regard to privacy, security, copyright and taxation.

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Online payments system

 

A payment system is any system used to transfer payments,money etc. A common type of payment system is the bank accounts and provides for money exchange using bank deposits.In traditional methods we have drafts(cheques) but now a days we have different methods like debit cards, credit cards, electronic funds transfers, direct credits, direct debits, internet banking and e-commerce payment systems.Payments system mainly used in international trasactions by banks.

Payment systems may be electronic or  physical  and each has its own procedures and protocols.payment systems that have become globally available are credit card.payment systems are also used to financial transactions for products in markets and  to transfer funds between financial institutions both physically and electronically.

Electronic payment can refer to e-commerce—a payment for buying and selling goods or services offered through the Internet, or broadly to any type of electronic funds transfer.

There are different types of online payment system like:-

Credit card

Debit card

Online banking

Payment card

e-cheque

 

CREDIT CARD:-A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay for goods and services, based on the cardholder’s promise to the card issuer to pay them for the amounts so paid plus other agreed charges.there are different types of credit cards like Business credit cards,Secured credit cards,Prepaid cards,Digital cards.The main benefit to the cardholder is convenience. Compared to debit cards and checks, a credit card allows small short-term loans to be quickly made to a cardholder who need not calculate a balance remaining before every transaction, provided the total charges do not exceed the maximum credit line for the card.Credit card is best for online shopping easy to use and time consuming more faster process than other payments. customer have to give his/her details and everything.

 

DEBIT CARD.:-A debit card is same like as credit card they have different further types cards visa,mastercard.JCD,Discover,Paypal,AMEX. Unlike credit and charge cards, payments using a debit card are immediately transferred from the cardholder’s designated bank account, instead of them paying the money back at a later date.

 

ONLINE BANKING:-known as internet banking,e-banking or virtual banking .Permanent access to the bank.Lower transaction costs / general cost reductions,Access anywhere,Less time consuming,Very safe and secure method,Helps to transfer the money immediately and accurately,Security of account.

Customer’s have to fill there details the user name, address ,CVC no. ,ect  so the traction take place.

It’s more faster process and eaiser process nowadays, this method is MORE used by peoples.

 

CHEQUES:-Two types cheque and e-cheque

Cheque:This cheque is physical cheque which is submited directlly in the bank this cheque is submitted               

to the bank only this is safe procedure but take too much time.

E-cheque:-This is digital cheque which is used online in this customer have to fill basic details and routing number and account number  not personal information.