An in-depth look at the implementation of a payment card system in a small business.
Written in 2009; 2,580 words; 11 sources; APA; $ 77.95
Paper Summary:
The paper explains that there are five parties involved in a payment card transaction including the card holder, merchant, issuing bank, acquiring bank and payment card network. The paper attempts to illustrate how these parties involved in any payment card transaction are together creating more integrated solution platforms and programs for small business. The paper also explores the security and privacy considerations for small businesses accepting payment cards.
Outline:
Introduction
Payment Card History
Information Systems Considerations
Legislative and Regulatory Issues
Privacy and Security Concerns
From the Paper:
"Reliance on all forms of electronic payment is increasing at an exponential rate. Given the pervasiveness of the Internet and its role as a clearinghouse for transactions (Chen, Lee, Mayer, 2001) on-line payments continued to serve as the catalyst for supporting the following three dominant payment card systems which are credit cards, debit cards, and stored value card-based systems. The information systems planning, requirements, and execution considerations for a small business who seeks to accept credit, debit and value-based cards are analyzed and presented in this paper. Also included are the legislative and regulatory issues of payment cards and a discussion of privacy and security concerns as well. One of the most urgent issues facing this industry today is the adherence to the Payment Card Industry (PCI) Data Security Standard (Sussman, 2008)."
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