Electronic Payment Authorization System

electronic payments credit system

payment system [ clearing and settlement system | EFTS | electronic funds transfer system | FTS | funds transfer system | IFTS | interbank funds transfer system | payment and settlement system | securities settlement system | electronic funds transfer(UNBIS) ]

user's electronic payment service | electronic payment services user service

Observatory on electronic payment systems

electronic payment systems

Electronic Payment Authorization

It also considered the introduction of an Electronic System of Travel Authorisation (ESTA) for visa-exempted third-country nationals.

12. Stresses the importance of clear rules on consumer protection policies at European level; believes that further standardisation at European level is needed, in the form of a regulatory framework establishing security standards and transparency of costs for each form of electronic payment (also extending to non-banking service providers) and regulating all the actors involved in the provision of payment services as well as all intermediaries, including merchants (e.g. storage of credentials); believes that when defining standards it is necessary to take account of those systems ...[+++] which have brought about significant shifts towards safer payments (e.g. the CHIPPIN system for cards; two-factor authentication systems; e-signatures and online payments passing through e-payment services), of those systems which are more vulnerable to fraud (e.g. where consumers’ sensitive personal data are transmitted to third parties, as in online payments through overlay services, or the magnetic strip system for cards), and of innovations that could make the processes safer;

applications for freight services, including information systems (realtime monitoring of freight and trains), marshalling and allocation systems, reservation, payment and invoicing systems, management of connections with other modes of transport and production of electronic accompanying documents.

– In this important report on e-commerce, among other things, we stress the importance of enhancing confidence in cross-border Internet payment systems (e.g. credit and debit cards and e-purses) by promoting a range of payment methods, enhancing interoperability and common standards, tackling technical barriers, supporting the most secure technologies for electronic transactions, harmonising and strengthening legislation on privac ...[+++]y and security issues, combating fraudulent activities and informing and educating the public.