The document discusses electronic payment systems. It defines electronic payments as using an electronic surrogate for financial tender backed by financial institutions. It discusses different types of electronic payment methods including card-based payments, direct account debiting, electronic wallets, digital cheques, and security protocols like SET. It also covers principles for secure electronic payments such as trust, security, identification, authorization, integrity and accountability.

6. New ePayment Solutions Security Infrastrucure Business Realities Authentication Models Spa Customer Profiles Payment Types

18. Bills buyer Pays bank Orders goods Deliver goods Reimburses merchant Voucher to Acquiring Bank Transaction voucher to Issuing Bank Issuing Bank pays Visa / Mastercard Sends transaction voucher to Visa / Mastercard Visa / Mastercard reimburses Acquiring Bank 1 2 7 4 5 3 6 8 9 Buyer Issuing Bank Merchant Acquiring Bank Visa/Mastercard