Review of Related Literature on Payment Gateway using Dragonpay Service
The project entitled Payment Gateway System is an online platform which allows the students to pay their tuition and other school contributions online using the dragonpay payment service. The development tools used for this project are purely free and open source technology such as PHP and MariaDB.
Dragonpay was established in 2010 in response to the growing need of consumers and businesses of an alternative payment channel. It provides unbanked consumers a convenient option to transact which allows merchants, retailers and organisations through a secured digital platform. To date, Dragonpay has completed over 18 million transactions and has gained over 11 million unique users as it continues to grow and expand.
(https://www.dragonpay.ph/about-us/)
REVIEW OF RELATED LITERATURE
An E-payment System: Literature Review
Nuthan K
Department of Computer Science and Engineering Srinivas School of Engineering Mangalore575021, India nuthangowda85@gmail.com
Rashmi P.C
Engineering Srinivas School of Engineering Mangalore-575021,India ras17s@yahoo.com
E-payment is a type of an e-commerce transaction system to include electronic payment system for buying and selling products that are offered through the Internet. Commonly we mainly think of electronic payments as the referring to online transactions on the internet system, there are actually many forms of electronic payment systems. As technology system is developing, the devices and processes range to transact
Electronically continues to increase while the cash and check transactions percentage continues to decrease. In the US, for example, the bank checks have decreased from 85% of non-cash payments in 1979 to 59% in 2002 and the electronic payment system have grown up to 41%. The Internet system has become the active trade intermediary system within short span of time.
Also, Electronic payment may revolutionize retailing by making consumers to sit in their homes, offices and buy a different products and items from all over the global system. Many customers are still wary of conducting extensive business and transactions electronically even though it is secure. However, almost all the people will use the form of E-Commerce.
The customer needs to fill the credit or debit card details such as card number, card expiry date, CVV (Card Value Verification Code) in the payment gateway during the payment. These customer details can be misused by the employees of the third party website. Identifying theft and phishing are the common attacks on E-payment system. The attackers might create the credit or debit cards with the same data of another customer. In 2012 consumer information was misused for an average of 48 days as a result of identity theft. In 2nd quarter of 2013, Payment Service, Financial and Retail Service are the most targeted industrial sectors of phishing attacks. The E-payment security protocols such as Secure Sockets Layer (SSL), Secure Electronic Transaction (SET) Internet Open Trading Protocol (IOTP) provide the secure connection between the customer and merchant.
(israse.com/digital/assets/papers/11ICRASE-25.pdf)
A SECURE ONLINE PAYMENT SYSTEM
Shristi Pant
University of Kentucky, shristi.pant@gmail.com
An online payment system allows a customer to make a payment to an online merchant or a service provider. Payment gateways, a channel between customers and payment processors, use various security tools to secure a customer’s payment information, usually debit or credit card information, during an online payment. However, the security provided by a payment gateway cannot completely protect a customer’s payment information when a merchant also has the ability to obtain the payment information in some form. Furthermore, not all merchants provide a secure payment environment to their customers and, despite having a standard payment policy, adhere to it. Consequently, this exposes a customer’s payment information to risks of being compromised or misused by merchants or stolen by hackers and spammers. In this thesis we propose a new approach to payment systems in which a customer’s payment information cannot be obtained by a merchant. A customer sends his payment information directly to a payment gateway and a payment gateway, upon verifying the transaction, sends a payment to the appropriate merchant. We use the Pedersen commitment scheme along with dual signatures to securely transfer funds to a merchant and protect a customer’s payment information from any Internet vulnerabilities.
(uknowledge.uky.edu/cgi/viewcontent.cgi?article=1000&context=cs…)
The Comparative Study of Different E-Commerce Payment Gateways
Kavita, Dr.U.S Pandey
Jagannath, University Jalpur, India
Open Learning University, Delhi, India
Abstract
This paper describes the main role of e-commerce payment gateways as a bridge between the user’s website and the financial institutions that process the transaction which authenticates and routes the payments without any hitches and in total security over electronic networks. This focused on a deep comparative study and analysis of different online Gateways which are: CCAvenue Gateway, Paypal, DirecPay, EBS, ABC Payments, HDFC , ICICI Payseal, Transecute Gateway.
All these payment gateways focus on different factors as security, cost, support, dispute resolution, international payments, transaction time, supported banks and tools and features. These are shown below.
(www.ijcst.com/vol24/1/kavita.pdf)
PRIOR ARTS
Foreign:
PAYPAL Payment Gateway
PayPal is a fast and safe way to pay and get paid online. The service allows people to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing. PayPal has over 110 million active accounts in 190 markets and supports 25 currencies around the world.
(http://payment-gateways.credio.com/compare/3-18/PayPal-Payments-vs-BluePay)
Bluepay Payment Gateway
With BluePay’s secure credit card payment gateways, your customers can make quick, efficient payments with just the click of a mouse. You will be able to accept all major cred it cards, debit cards and ACH payments (BlueChex) with fast and secure account verification. Furthermore improve business operations with advanced management functions, including reports, batching, returns and voids.
(http://payment-gateways.credio.com/compare/3-18/PayPal-P nayments-vs-BluePay)
RELATED LOCAL PROJECTS:
AurumPay® Philippines
AurumPay® Philippines is the first Filipino-owned online payment gateway service provider that services the online payment requirements of the Philippine ecommerce market with its very own multiple line-up of online payment solutions. AurumPay® Philippines processes online credit card, ATM/debit cards and over-the-counter non-bank cash payment that are all bundled in its PCI DSS compliant payment gateway system.
(http://www.aurumpay.com/)
Synthesis
After reviewing some related literature for our study, we can see that our proposed system is also a branch of e-commerce that focused on the payments of tuition and other school contributions of the students. The literatures cited above serves as a guide for the developers to develop their own payment systems online.
Credits to the authors and developers of the project and study
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