Radio Frequencies (RF) in E-Payment part 1

Alfina Fauziah Pradhini Hadi NIM: 2301956014

E-payment systems (or electronic payment systems) facilitate the receipt of electronic payments for online transactions. Credit cards are a popular online payment method but they can be expensive for sellers to accept because of transaction fees. Debit cards are an excellent alternative with similar security but usually cost a lot less. In addition to card-based payments, alternative payment methods have emerged and sometimes even claim market leadership.

This payment system represents payments that do not require physical contact between the device used in consumer payments and the POS terminal by the seller. Radiofrequency devices can be embedded in various forms, such as cards, key chains, watches, mobile phones. This type of payment supports the three largest payment system cards: Visa (Visa Contactless), MasterCard (MasterCard PayPass), and American Express (ExpressPay). All of these products comply with the international ISO 14443 standard, which provides a unique payment system globally. The implementation of this payment system is based on the same infrastructure for magnetic strip payment cards and requires no additional investment by companies and financial institutions, other than upgrading existing POS terminals.