This system is a bolt-on to the SSL system, whereby the bank is the only organisation that has the power to de-encrypt the credit card details by way of a private key. The digital signature that is associated with the data transfer guarantees that the information has arrived securely at its intended destination without interference.

Company Specific Online Systems
Basically, a company sets up a portal and allows a number of companies to advertise their wares on the site and transactions are centralised through one hub.

Digital Cash systems

The digital cash is an equivalent to the real thing. The transfer of value is conducted in real time and is not a debit or credit. It is essentially anonymous and most closely related to real world cash. Digital cash are immediate transactions like offline real money transactions. They are entirely anonymous like real money transactions. Low value transactions are very often conducted through this method.

Software Cash

Value is held on the user’s computer. Paypal is an example of this system. Tokens are bought, or a scratch card system is used whereby funds/values are depleted and this corresponds to the user’s bank account. That is, the tokens used are translated into money deducted from the user’s account: E-purses and e-wallets. These can be topped up by payments from your bank account. These systems can also be used in m-commerce.

Smart Cards

Information co英语论文网 【http://www.51lunwen.org】ntained on a chip on a card. Encryption is used but in this case, the card details are encrypted when you type a PIN number and only the bank can read the information on the chip.

Micropayments

Micropayments offers pay-per-view Web pages, Web links, or Web services for small amounts of money. This can be used for very small cost transactions where the cost of more sophisticated systems would be prohibitive. These systems can also be used in m-commerce to pay for small value items such as graphics, downloads and ringtones.

EU Law

Directives on E-money. 2000/46, 2000/28

E-money is classified as a monetary value as represented by a claim on the issuer which is;

 Stored on an electronic device

 Issued on receipt of funds of an amount not less in value  than the monetary value issued

 Accepted as means of payment by undertakings other than  the issuer.

Thus it is rather wide in scope and includes any electronic device. There is a legal grey area surrounding the application of the EU e-money rules to mobile phone companies who issue pre-pay tokens since they are now used to buy products [ring-tones, games, wallpaper, screensavers] from third party providers. 

Article 1(5)
The business activities of electronic money institutions other than the issuing of electronic money shall be restricted to:

(a) the provision of closely related financial and non-financi 本文来自：英语论文网 【http://www.51lunwen.org】