Payment instrument

Monika Lautar (2016) Payment instrument. EngD thesis.

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Abstract

The thesis is a survey of payment instruments and their integration to a trading company. Payment cards are explored in detail as the most performed payment instrument, and the most exposed to abuse and upcoming changes. For adequate theoretical basis, different criteria breakdown analysis is made. One of the criteria is implementation technology, which together with the study of payment cards` evolution, lead to the conclusion that the media for paying goods and services are constantly changing. In the central part of the thesis, PCI DSS standard is described, which regulates card payment transactions and demands compliance with specified requirements from all industry players. As PCI DSS standard for points-of-sale anticipates different compliance verification, depending on the annual number of transactions, performed by the trader-merchant, separate chapter is dedicated to that area. In the last part of thesis, methodology for implementation of online sales for trading company (merchant), which beside advanced commercial channels provides also modern payment instruments to its customers. However, payment instruments, as already described in the main part of the thesis, are a subject to highly restrictive standard regulations.

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