One of the advantages of modern electronic banking is a very high security. Its provided by a very strong 2 factor authentication. You must have a small computer (authenticator) in order to generate cryptically strong (supposedly) random passwords. (pic is from abnamro.nl) I’ve described about e-commerce application of this authentication in my post about IDeal [...]
Archive for the ‘Electronic Payments’ Category
PCI DSS Certification
May 3rd, 2010 by Serguei Alleko in Electronic Payments | View Comments
Just got an email from our credit card acquirer with suggestion to pass PCI DSS Certification. This certification ensures that companies handling the credit card numbers safely. Yes, you do need a special certification to handle very sensitive 20-digit numbers. And yes, it shows again how unsecure the credit cards really are. The cerfitication could [...]
Why my credit card payment was rejected
September 25th, 2009 by Serguei Alleko in Electronic Payments | View Comments
A lot of people are asking this questions: I’ve used this credit card many times successfully , but why I can not pay in this particular e-shop? Your payment could be filtered at 2 stages: 1. Credit Card Issuers Mastercard or Visa are checking the following data from your credit card: credit card number expiration date Name [...]
New strategy against credit card fraude
September 19th, 2009 by Serguei Alleko in Electronic Payments | View Comments
After some extensive screening of credit card information in our e-shop I still could see from time to time people buying licenses in big amounts (which usually indicates fraud). A week ago I’ve decided to use proactive tactics. For every order, which looks like fraud, I’m sending an email: ————————- Dear Sir/Madame, Unfortunately we’ve found [...]
Fraud with credit cards again
July 20th, 2009 by Serguei Alleko in Electronic Payments | View Comments
We’ve got again a number of products, bought via our e-store with stolen credit cards. Sins we’re sending our products – activation codes electronically per email, customers can supply bogus delivery address an still receive their code via a temporary gmail account. At this moment we have the following limits on our e-store: no credit [...]
Intra-European payment and VAT
In every European country, if you buy something, you have to pay Value Added Tax (or VAT) It ranges per country from 15 till 25% per country. If you’re a private person, you just have to pay it, no matter what. If you’re a company or self-employed, you can deduct this tax via complex procedure with [...]
Payback time
January 16th, 2009 by Serguei Alleko in Electronic Payments | View Comments
If you want to know how to receive money via online transactions, you have to know, how to pay it back. Why refund? There are different reasons for paying customer their money back: (obvious) Customer is not happy about the product. In different countries there are different periods, when customer has right by law to return [...]
“Ideal” Online Payment method
January 12th, 2009 by Serguei Alleko in Electronic Payments | View Comments
In my previous post I’ve described 3 major modern online payment methods. Let met give more attention to the most modern one – iDEAL. iDEAL is one of the online payment methods which are using online banking with special tokens. Currently such methods are deployed by different European Banks. Of course each bank has it’s [...]
Past, present and future of online payments
January 6th, 2009 by Serguei Alleko in Electronic Payments | View Comments
Pioneers sometimes pay more than their followers. It’s harder to be the first in any field, and in any industry as well. To be The First of course means you’re also The Best, at least at the beginning. Pioneers invest heavily in R&D, infrastructure and they find methods to do what they do cheaper. [...]
Good and Bad in Credit Card processing
January 3rd, 2009 by Serguei Alleko in Electronic Payments | View Comments
Credit cards are good for online purchases. Everybody knows that. They’re popular, they’re fast, they’re convinient for the client. A lot of Payment Service Providers are dedicated mostly to credit cards only. But actually, for merchants, credit cards are the worst and least secure method for online payments. The authentication is week Third party (the [...]
