Payment is the preferred method to clear up credit and debit balances arising from different economical activities including spot transaction and financial transaction between the parties concerned through the transfer of monetary value.
To expand electronic commerce based on the Internet, it is required to establish secure and efficient electronic payment systems and above all, to secure the technology for informational security. Accordingly, some cases representing electronic payment systems proposed and developed in the advanced countries were compared and analyzed in this paper. In addition, encryption technology to protect information, certification technology to authenticate messages and users, and anonymity technology not to trace were considered.
In result, it was proved that it is desirable to establish a micropayment and a macropayment system, respectively, as electronic payment systems for expanding electronic commerce based on the Internet.
Therefore, electronic money method based on the integrated circuit card as a micropayment system, credit card method based on SET as a medium-size payment system, and electronic funds transfer(EFT) and electronic check methods as a macropayment system were proposed in this paper.