An evaluation of e-payment systems and their application in mobile commerce

Abstract

Electronic commerce is growing at an ever increasing pace every year. However, the payment mechanisms in use were developed without electronic commerce in mind, and as a result, must be modified before they may be used for online transactions. In this thesis, the online payment mechanisms in use are analyzed to find out if they meet present day electronic businesses requirements. A comparative study of existing payment mechanisms has been performed and their strengths and weaknesses evaluated. Recommendations are made for improved mechanisms capable of meeting the needs of consumers and businesses today.