Easy Ways to Determine Success in payment gateway for school

E-Check is currently being tested in an extensive business-to-business pilot test involving the United States Treasury Department and key suppliers. Since E-Check is not yet available to consumers, we have excluded this important new technology from our discussions in this paper.

As of fall 1999, banks, online payment gateway for school merchants, credit card companies, and others had not achieved a broad consensus as to which of the above-noted emerging online payment mechanism is "best." In 1999 most U.S. consumers paid for online purchases using credit cards. Some provided their credit card number offline, via a telephone call. Others provided numbers online, secured by SSL.

The stronger SET standard, released in May 1997 and backed by all major credit-card issuers, has met a lukewarm reception by U.S. consumers, merchants, and banks. Gartner Group predicts that "by year-end 2003, the Far East, South America and Europe will see 40 percent of Internet-based payments secured by SET while) in the United States the penetration rate will be. Less than 15 percent by year-end 2003" (Source: Gartner Advisory Service Research Note). Although most consumers did not yet use the "one-click" Instant Buy service for credit card payments, the Instant Buy program listed about 300 merchants, including Amazon.com, eBay, and other major sites by Fall 1999.

Meanwhile, the Trivnet Wisp program, introduced in 1999, was rapidly building up its base of ISP partners. Interest in online bill payment services also increased markedly in 1999. PSI Global observed that approximately 1% of bill payments were made electronically in 1999, and they estimated that by 2005, 20% of all bill payments would be made online, accounting for $5 billion in payments.

We expect that different online payment mechanisms will be optimized to suit different consumer and merchant needs, just as choices of conventional payment mechanisms today vary according to different types of transactions. Having concluded that multiple payment mechanisms are likely to prevail, we next compare transaction security and merchant control issues (which presumably affect perceived "relative advantage") for different payment forms.

Consumers do not want to receive or be charged for goods that they did not order, and many do not want personal data revealed to others without their consent. Merchants do not want to send goods to those who should not receive them or who will not pay for them. These concerns may be expressed as a set of questions in three categories: authentication, authorization, and transaction integrity.

1. Authentication: Are you who you say you are? This is primarily of interest to consumers, who want to know that they are transacting business with real merchants.
2. Authorization: Are you authorized to place and pay for this order? Will this payment be repudiated? The merchant wants to know if, for example, this is a minor attempting to purchase alcohol. Both merchant and consumer also want to know that a payment gateway for college has not been duplicated, either inadvertently or fraudulently. And, the merchant needs to know: will I receive the funds? Failure to receive payment could result from fraud or from a buyer's lack of sufficient funds.
3. Transaction Integrity: Both the merchant and customer want to know: are the payment data complete, unchanged, and confidential? Did the merchant receive all of the order and for correct amounts? Both consumer and merchant want to know that sensitive customer data, such as credit card number, PIN and telephone number are protected.

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