What is a payment gateway, and how does it ensure secure transactions?
How do secure credit card payments rely on ICT?
What role do third-party payment systems like PayPal play in e-commerce?
How does data encryption enhance the security of online transactions?
What are micro-credit payments, and how are they supported by ICT?
Answers and Descriptions:
Answer: A payment gateway is a service that authorizes and processes online payments, ensuring secure transactions between merchants and customers.
Description: Payment gateways like Stripe use ICT to encrypt payment data, verify transactions, and integrate with banking systems, ensuring secure and seamless online purchases.Answer: Secure credit card payments rely on ICT through encryption protocols (e.g., SSL/TLS) and tokenization to protect card details during transactions.
Description: ICT ensures that sensitive data is encrypted during transmission and replaced with tokens for processing, reducing the risk of fraud in online payments.Answer: Third-party payment systems like PayPal act as intermediaries, securely processing payments without sharing customer financial details with merchants.
Description: PayPal uses ICT to manage user accounts, encrypt transactions, and provide buyer protection, making it a trusted platform for e-commerce transactions.Answer: Data encryption converts sensitive information into unreadable code during transmission, ensuring only authorized parties can access it.
Description: ICT employs encryption algorithms (e.g., AES) to protect payment data, ensuring confidentiality and integrity in online transactions, critical for e-commerce security.Answer: Micro-credit payments, like Bitcoin, are small-scale digital transactions enabled by blockchain technology and ICT infrastructure.
Description: Blockchain, a decentralized ledger, uses ICT to record and verify micro-transactions securely, enabling fast and low-cost payments without traditional banking systems.