The Comparative Study of Different E-Commerce Payment Gateways

Transcription

1 The Comparative Study of Different E-Commerce Payment s 1 Kavita, 2 Dr. U.S. Pandey 1 Jagannath, University Jaipur, India 2Open learning Delhi University, Delhi, India Abstract E-commerce payment gateway is the access point to the online network. All online s must pass a payment gateway to be processed. The payment gateways act as a bridge between the user s website and the financial institutions that process the. s process the different s between user and web browser. A payment gateway authenticates and routes payment. In this paper we have focused on different e-commerce payment gateways, and also have a deep comparative study, analysis of different online s. An Internet e-commerce payment gateway is a critical infrastructural component to ensure that such s occur without any hitches and in total over electronic networks. Keywords Ecommerce payment s, CCAvenue, Paypal, DirecPay, EBS, ABC Payments, HDFC, ICICI Payseal,. Comparison of Different Payment s The criteria that are important while evaluating a payment gateway: In this paper we have described comparative study of different e-commerce payment systems which are: 1. CCAvenue Paypal DirecPay 4. EBS 5. ABC Payments 6. HDFC 7. ICICI Payseal 8. Different criteria and services are described below the comparative study of payment gateways.all these payment gateways focus on different factors as, cost,, dispute resolution, international payments, time, ed banks and tools and features. These are shown below in tabulation representation. S. No Gat eways Security Cost Customer Care & Dispute Resolution Processing International Payments Real-time & Time Reporting for Multiple Banks Tools and Offered 1 CCAvenue 1.Security firewall Risk tools Fraud Filters 1. Rs 7,500 as onetime non -refundable set up fees with 7% fees for cards or 4% fees for net and mobile payments + Rs 1200 as annual charge 1. Commerce service provider, Real Time s and Provide 4. for net s Streamline dispute resolution processes the use of automated tools to prevent invalid exception items.,, AMERICAN EXPRESS, CLUB JCB S CITY BANK ES, DISCOVER NOVUS, CARTE BLANCHE, 1. Optimum time : The is completed between 30 seconds and a minute. This enables the websites to transact and accept payments online and in real time 1. HDFC Bank of Rajasthan ICICI 4.Kotak 5.Citibank 6.Oriental Bank of Commerce 7. Axis 8. Jammu & Kashmir 9. IDBI 10.Corporation Bank 11.Standard chartered Bank 16.Centurian Bank of Punjab 17.State Banks 18.HSBC 19. Union Bank of India 20. Punjab National Bank etc. 1. credit cards, debit, mobile payments, cash cards Debit as:, In t e r n a t io n a l Jo u r n a l o f Co m p u t e r Sc ie n c e & Te c h n o l o g y 61

2 ISSN : (Online) ISSN : (Print) 2 Paypal 1. Dual Privacy Key System Data Encryption 4. monitoring 5. Safer and Faster PayPal is FREE and protects your purchases 1. Online Multi currency PayPal s staff is organized into departments that specialize in specific customer concerns. 4.PayPal is ready to assist with integrating PayPal on website. 1.Most carefully resolve The PayPal Resolution Center enables you to resolve issues before they become larger problems,, AMERICAN EXPRESS, / EURO MAESTRO 1. Fast and Trustworthy Ideal for online auctioneers The new e-transfer process takes less than a week to process a check 1.HDFC 2 ICICI 3 ING VYSYA 4. Axis Bank (formerly UTI Bank), 5.Standard Chartered 6. State Bank Of India, 7. Bank Of India, 8.Canara 9 Union Bank of India, 10 HSBC 11 Citibank India. : Credit s No Debit Additional : conversion fee - 5% added to the exchange rate Debit cards (also known as bank cards) are accepted if they have a Visa or Master logo. 3 4 DirecPay EBS 1. SSL Technology Used Secure Data Encryption verisign 128 bit SSL,IP connection and tool 4. PCI Certified 1. Risk Monitoring Highest Security PCI DSS 1.1 verisign 128 bit SSL Technology 4. Security Firewall Used Charges: Rs 30,000 set up charge + 7% fees + annual charge Rs 6000 as setup fees and 6% fees + Rs 2400 annual charge. 1.One Stop Solution Multi Quick Settlement 4.Simple Integration 5. Services cost-effective, cover a wide range of payment acceptance modes and rest on a robust technology platform. 1.Risk Detection Excellent & Service Risk Monitoring on an ongoing basis, Smooth reconciliation, Multiple Payment Options 1.DirecPay platform is mapped against a negative base which is continuously compiled and updated 2.It resolve the VeriSign secure, making it robust and free from internet dangers like phishing. 1. It reduces the amount of time spent researching customer inquiries; and Secondly, it reduces the occurrence of charge back ITZ CASH 1.Fast, reliable and secure passage for status gives back as message allert 1. It usually takes between 3 and 7 seconds for s on real time 1.ICICI, HDFC, Citibank 4. State Bank of India. HDFC CITY Bank Axis Bank ICICI Deutsche Karur Vysya State Bank of India, Indian Overseas ING Vysya, Corporation Bank 1. Credit cards, Internet. Mobile Around 51 Debit s Online, Travel portals, educational institutions, equity broking : credit cards, debit No Debit 62 International Journal of Computer Science & Technology

3 5 6 ABC Payments HDFC 1. Risk system controls Secure Data 128 bit SSL 4. Certified secured 5. SSL technology with newest protocols 1. Secure Firewalls 128 bit Intrusion detection and prevention systems 4. SET Certification for digital signature 1.setup cost Rupees 7,000+7% fees Startup cost: Startup Cost : cost : 5% 6% Security deposit : depends on Due Diligence 1.Ease integration Multi Online 4. Offline 5. Risk Minimization: If any is perceived as a High-Risk an immediate alert is sent to the Sub- 6. alerts for suspect s It An userfriendly interface Real Time Risk Management Automated Reconciliation 4. Integration of SCM module 5. Full Backend 24 hours 1. User receive the parameters / in either case of process ending successfully or failing up due to many reasons, including wrong entry of credit card number and so on. It Resolve expertise and provide maximum satisfactions. It resolve Responsive and Trustee service HDFC NET -BANKING 1. Less processing Time. Real time means Quick 1.Secured and Easy Process Real Time Basis ICICI Bank HDFC Bank CITI Bank AXIS Bank IDBI Bank CBOP SBI (coming soon) PNB (coming soon) HDFC Bank Payment provides a single platform to multiple payment technologies : credit Debit 1. Product : Credit s and HDFC Net Debit : and Telephonic available 7 ICICI Payseal 1. Offers 128-bit SSL 280 bit RSA before passing it an SSL pipe using 128-bit. Uses a stronghold web server 4. Extensive firewalls Charges: Rs. 40,000 as setup fees and 5% as fees. 1. Optimum Server Utilization Centralized and secure Highly scalable and reliable 4. Efficient Administration 5. 1.It Resolve Disputes Administration module facilitates extensive MIS reporting and monitoring of s conducted via the gateway ICICI NET -BANKING 1. The information is quickly transmitted to the merchant server. Fast and Easy it takes seconds in report web server Process in Real time. ICICI Provide Single Platform for all payment gateways 1. Product : Credit s, ICICI Net Debit : Needs java for your website. In t e r n a t io n a l Jo u r n a l o f Co m p u t e r Sc ie n c e & Te c h n o l o g y 63

4 ISSN : (Online) ISSN : (Print) bit SSL Certificate use a symmetric key based checksum algorithm to exchange Advanced Heuristic Fraud Pattern Matching and detection engine 4. Fraud Detection and Risk Mitigation 5. End to end 1. Setup charges: Rupees 30,000. charges: 5% per. Chargeback Fee: Rupees 10 per. 1. Multicurrency Instant Fraud Alert Mails for risky s No expensive required 6. Lifetime Free 1. It provide the Proof of Delivery It check High value Process It maintains daily Risk Mitigation and Fraud Report 4. This Report contains alerts on various s that are perceived to be risky by our heuristic fraud detection software. 5. Through manually check these s create minimise chargeback risk 1. The typical integration time is less than an hour to get online and live Reversals - s can reverse s from this interface. Real Time Credit 1. It Provide Single Platform for all payment gateways No bank payment 1. s all / Master s, and also Amex, Discover, Novus, Bank Accounts, e-checks, multiple currencies No Debit is also the only to allow Anytime Withdrawal of your balance. Analysis This below graph shows the various factors of different payment gateways. This graph differentiate here different payment gateways with various factors the different colors. So according to this analysis we can easily understand that which is best option for the user. 64 International Journal of Computer Science & Technology

5 Conclusion and Future Work Through above comparative study of different gateways user can access it easily and he can take decision that which e-commerce payment is better for him because people wants a user friendly payment gateway which should be easy to use and easy to access. These payment systems with comparative study are useful for users because some people don t know about payment gateways so they can get knowledge about it and after using gateways they feel trustee it. It is also necessary in payment system that assures privacy in the payments like bank accounts and there should be a way of identifying the customer s bank accounts and the merchant bank accounts. Kavita (Ph.D Pursuing) and she received her M.C.A degree in computer science from Modi Institute of technology and Science Lakshmangarh. she is an Assistant Professor in Jagan Nath University Jaipur. She has four years of teaching experience in the field of Computer Science. Kavita has got published of research papers in the National and International Conferences, and International Journals. References [1] Case-Study-of-ECommerce-Payment-System, [Online] Available: www. scribd.com/doc/ [2] [Online] Available: html. [3] Direct Pay, [Online] Available: time-sof-money. com/direcpay/jsp/home.jsp [4] [Online] Available: [5] [Online] Available: ayment- gateways -in-india.php [6] ABCPayment gateway, [Online] Available: www. abcpayments.com [7] HDFC, [Online] Available: epayments.html [8] Cost, [Online] Available: blog/tag/hdfc-payment-gateway/ [9] [Online] Available: [10] HDFC, [Online] Available: com [11] [Online] Available: [12] Ailya Izhar, Aihab Khan, Malik Sikandar, Hayat khiyal, Wajeeh javed, Shiraz baig," Designing And Implementation Of Electronic Payment For Developing Countries Journal of theoretical and applied information technology". [13] CCAvenue gateway, [Online] Available: w.w.w.ccavenue.com [14] [Online] Available: [15] Payple gateway, [Online] Available: com Dr. U S Pandey, Ph.D (Computer Science) is an Associate Professor in School of Open Learning, University of Delhi, Delhi. He has Twenty years of teaching experience in the field of Computer Science and supervising many research scholars in the field of Mobile Commerce, Artificial Intelligence, Expert System, Data Warehouse, Data Mining, e-learning and e-governance. Dr. Pandey has got published two books and diverse a range of research papers to his credit in the National and International Journals of repute. Dr. Pandey has worked as Professor & Director of VIPS affiliated to GGSIP University Delhi. In t e r n a t io n a l Jo u r n a l o f Co m p u t e r Sc ie n c e & Te c h n o l o g y 65