With the development of the information technology, using Internet to pay for goods and services has become a very popular application. The traditional forms of payment can not be applied to e-commerce environment. Because of the complexity of online transactions related to capital flows and goods flows, the transaction process requires higher security and reliability. One mature approach for e...

The issue of the cost containment effects of payment systems on per diem payments by Medicaid to nursing homes is addressed. Estimates of real payment rates as a function of broadly defined payment system classifications and economic and demographic variables using State-level data are presented. Little support for the notion that prospective payment systems substantially restrain payment rates...

In electronic commerce, the challenges of payment transactions were initially underestimated. Business via the internet and mobile telephony has so far been dominated by the methods of payment systems in traditional business. However, in light of advances in e-commerce, traditional business models are increasingly coming up against their limits. To understand the concept of electronic commerce,...

The Internet Open Trading Protocol (IOTP) is an electronic commerce protocol being developed by the Internet Engineering Task Force. IOTP aims at providing an interoperable framework for electronic commerce (ecommerce) over the Internet. IOTP is expected to evolve into one of the central building blocks for the developing of next generation e-commerce on the Internet. The success of electronic ...

The underlying model of an electronic payment system consists of three parties: a bank, a customer, and a shop. There are three different types of transactions within the system: withdrawal involving the bank and the customer, payment involving the customer and the shop, and deposit involving the shop and the bank. The customer's account is debited during withdrawal, and the shop is credited du...