Research and Implementation of an Innovative Payment System
Date Issued
2015
Date
2015
Author(s)
Yang, Cheng-Hsu
Abstract
Following the flourishing development of internet shopping, in Taiwan each year the ecommerce market size exceeds a trillion dollars . Most of Taiwanese within last year did online shopping, among which mobile shopping had the fastest growth. However, there were many cases of online credit card fraud. The security of internet shopping is the most worrisome concern for consumers. Currently, many of Taiwan’s ecommerce businesses do not adopt a verification mechanism for online payment procedures, while a few adopt OTP verification. Because the verification system for SMS in Taiwan was cracked in recent years, the amount and cases of small mobile payment thefts reached a new high. Simply put, the merchant sends a set of SMS OTP verification codes, which are widely used in internet banking and internet shopping, to the consumers’ mobile phones, and the computer fills in the codes and returns SMS. The hacker only needs to steal the phone or implant a Trojan to easily intercept and steal a verification code. This study through innovative thinking, proposed a set of completely new verification mechanisms. The establishment of third-party authentication platform, through RFID identification and fingerprint identification in biometric identification technology can verify the user’s identity. The strong security of online transactions lets consumers conduct a new payment mode of transactions that is more convenient, faster, and safer. In addition to proposing a new concept, this study also focused on implementation. In developing an innovative verification mechanism, this study also developed the API interface. This study also implemented an API-linked ecommerce platform as the scope of the whole system process. This study’s conclusion summarizes the advantages of the innovative payment system and the limitations of the current technology. Perhaps in the future the system can continue to be developed, giving consumers a more convenient and secure internet shopping environment.
Subjects
Ecomerce
Innovative Payment System
Type
thesis