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Conceived and created by Raja Nagendra Kumar, Personalized Payment Model for mPayee 31 st October 2000.

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Presentation on theme: "Conceived and created by Raja Nagendra Kumar, Personalized Payment Model for mPayee 31 st October 2000."— Presentation transcript:

1 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Personalized Payment Model for mPayee 31 st October 2000

2 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Self Introduction Technical Manager in Satyam Infoway, Bangalore, India 8 year in the IT industry C, C++ and Java 5 years of Internet and Java Result of constant watch and analysis of evolution of commerce models over a period of time nagkumar@hotmail.com

3 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Commerce Evolution Existing Net Commerce Models Proposed NagAsthra model for mPayee Advantages - Customer - Bank - Cellular Service Provider Risks and Recovery Road Map Conclusion

4 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Commerce Evolution - Cash Store Customer Manufacturer Cash Flexible to have a Proxy Buyer

5 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Commerce Evolution - Plastic Card Bank Authorization Goods Store Customer Manufacturer Cash/ Credit Card

6 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Commerce Evolution - Internet Bank Physical / Virtual Internet Credit card Authorization Goods Customer Manufacturer/ Store

7 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Net Shopping - Popular Model Today Tools to Shop –Personal Computer –Reliable Internet Connection –Web Literacy Steps to Shop –Surf the web for the best product and price –Go to the desired e-Shop site –Add the items to the Shopping Cart –Provide the Shipping Details –Provide the Payment Information –Order placement is fulfilled

8 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Net Shopping - Cellular Model Tools to Shop –Subscribe for the Data Services (CSP) –Cell and Web Literacy Steps to Shop –Surf the web for the best product and price –Go to the desired e-Shop site –Add the items to the Shopping Cart –Provide the Shipping Details –Provide the Payment Information –Order placement is fulfilled

9 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Net Shopping - Comparison How about blending best of both? On a PC Bigger screen size Lower data flow cost More interactive Physical presence On a Handheld Device Greater accessibility Ideal for personalization Physical presence

10 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Statistical Info 63% of web surfers will not purchase over the internet until they are assured more human interaction (Personal Touch) 2/3 of all online shopping carts are abandoned before checkout (Time) 85% of online households have only 1 phone line so they can’t call and be on your site at the same time (Infrastructure) Most selling items on the net are Books, Software, Music, Stationary items

11 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com NagAsthra Model - Overview Promotes local trade through Order Helpdesk Uses WAP phone only, - no PC or Internet connection Onetime sharing of Credit Card details, only with the issuing bank Complementary to the existing Credit Card payment

12 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com NagAsthra Model - Overview (cont.) Addresses Business transaction security not technology based security (eg. servant as proxy buyer) SET ( Secure Electronic Transaction) T ransportation layer security has to be assured by SSL & WTSL

13 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Commerce Evolution (proposed) - mPayee Virtual Card Number Bank’s Payment Processor CSP Provider mPayee (True Buyer) Order Help Desk (Proxy Buyer) Internet Authorization Goods Manufacturer/ Store

14 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com NagAsthra Model Order Help Desk e-shop Bank’s Payment Pre-Processor+Gateway mPayee 5 2 3 4 6a 6b 1

15 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Peek into Payment System Payment Pre-Processor Payment Gateway Payment System

16 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com One would apply for Credit card and get the same issued from the bank along with web activation key (WAK) Credit Card Activation –Logon to the Payment Pre-Processor using the activation key –Virtual Card Number = Permanent Part + Customizable Part –Permanent Part is assigned by the Bank Credit Card Activation

17 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com –Provide the customizable part * –Provide the d-PIN (device PIN) * –Store the True Credit Card Information –Enter the WAP phone number to which he prefers to receive payment alerts * can be changed at any point in time Credit Card Activation (cont.)

18 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Advantages - Net Customer Novice can shop (Digital Civilization) Commerce without surfing as opposed to single click buy No need to have a dependent card for the family No fear that the e-Shop would charge the user every month

19 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Advantages - Net Customer (cont.) Order anything from anywhere taking anyone’s help (just a phone call away) and still have full control on your e-payments. Valid period for payments can be enforced Credit Card can be used as a guarantee e.g age proof (yahoo.com)

20 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Advantages - Bank Probable increase in customer retention Drastic reduction in fraud cases due the existence of d-PIN As the customers feel more secure more purchase will be made More money flow due to increased net purchases

21 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Increased volume of customers and phone calls due to simplified buying process and assured transaction security More money due to more usage of data service The CSP can offer considerable discount to the mPayee depending on the volume of payments made Advantages - Cellular Service Provider

22 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Changed/Lost/Misplaced cell phone. –Due to non disclosure of d-PIN, authorizations are prevented If Virtual Card Number is widely distributed one may receive many alerts –Modify the custom extension part of Virtual Card at the Pre-Processor. This would invalidate the Previous Virtual Card Risks and Recovery

23 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com If the user himself is surfing he/she may not be interested in receiving the alerts –User can register for more than one Virtual Card by providing different Card Extension –He/she can also assign the Risk factors associated with each Virtual Card Number –Depending the Risk he/she can opt whether to have alerts or not Risks and Recovery (cont.)

24 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Road Map Corporate purchase model (hierarchical payments) can be brought on-line Thumb impression can be used instead of d- PIN Voice/Video enabled assistance for Payments Swiping of the Credit Card, if the device has integrated Card Reader

25 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Conclusion Brings in positive change in the mindset of people Masses can enjoy the advantages of buying over the net Let your Credit Card enjoy the Internet Freedom –and help you to do commerce with out surfing

26 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Conclusion (cont.) Removes the practical boundaries that deter the growth of commerce on the net –Lack of awareness and education (Computer literacy) –Social and Psychological factors (Fear of paying using Credit Card on the net)

27 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Thank you “Let your Credit Card enjoy Internet Freedom with NagAsthra”

28 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Payment Pre-Processor Payment Gateway Payment System usertransaction bank Database Details

29 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Permanent Part Role of Permanent Part of Public Key This is the primary key for –Bank’s Database –User Customizable Database –Transaction Database

30 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Customizable Part Role of Customizable Part of Public Key User can own more than one public key with different customizable part

31 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Pre-Processor Role of Payment Pre-Processor Provide HTML and WAP interface to add/update user database e-Shop –When the request for payment approval is received, pre-processor would get the user data using the permanent part of public key –compare if the customizable part of public key matches the one in database –it will reject the shoppers request if customizable part does not match –on matching, it sends an alert to mPayee Phone

32 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Pre-Processor Role of Payment Pre-Processor (cont.) mPayee –on payee entering private payment key, pre- processor validates the public and private keys –it would throw the order details if private key was correct –when the user accepts the payment for the order it asks the Payment Gateway to validate the Credit Card the response from the Gateway is returned to e-Shop –if the user declines the order, payment failure is notified to e-shop

33 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com Flexibility Customizable Public Payment Key Sending of alert during payment

34 Conceived and created by Raja Nagendra Kumar, mPayee@hotmail.com


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