Electronic Payment Systems Payment Gateways and Data Security

E-Commerce Inextricably Linked to the Internet E-commerce (aka digital commerce) Has become the mainstay

Digital Commerce Motivation for the Project Digital Commerce topics covered: Evolution of e-commerce E-commerce

Research Methodology and Qualitative Results Active Learning Approach (Qualitative) Two senior level IT students

Research Methodology and Qualitative Results (continued) Results Payment Gateways Have two primary components: the

Research Methodology and Qualitative Results (continued) Results E-commerce Level 1 compliant PG Vendors Vendor

Survey Research Methodology and Results Student Survey (Quantitative) The purpose of the survey (21

Survey Research Methodology and Results (continued). Students’ Refection:

Feedback / Suggestions for Future Work Welcomed What type of additional research is needed

References Torpey, E. (2018). Employment growth and wages in e-commerce. U. S. Bureau of

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Electronic Payment Systems Payment Gateways and Data Security Standards TREO Talk Paper Lorraine Jonassen, Hyesung Park, Karen Benson, Binh Tran, Jeffry Guzman, David Cruz-Reyes

E-Commerce Inextricably Linked to the Internet E-commerce (aka digital commerce) Has become the mainstay in the way consumer’s shop § Retail e-commerce sales for the 3 th quarter 2019 reached $154. 7 billion (U. S. Census Bureau, 2019). Is a driving force for the way business generate revenue § E-commerce employment is expected to reach 450, 000 by 2026 (Torpey, 2018). Lead to an upsurge of security and privacy breaches § As more and more businesses get connected, the average cost of a data breach will exceed $150 million by 2020 (Price, n. d. ).

Digital Commerce Motivation for the Project Digital Commerce topics covered: Evolution of e-commerce E-commerce models Infrastructure and Presence Missing topics (not covered): Payment Gateways (PGs) Payment Card Industry Data Security Standards (PCI-DSS) Security Payment Systems Why is PGs and PCI-DSS Important ? Every digital transaction MUST pass through an electronic payment system/gateway. Every business that accepts, processes, or stores credit card data is REQUIRED to be PCI -DSS compliant in one of 4 levels - based on annual transactions. Dahn, 2019).

Research Methodology and Qualitative Results Active Learning Approach (Qualitative) Two senior level IT students (enrolled in STEC 4500) researched analyzed the top five e-commerce online payment applications to understand how the different payments types impact business and consumers from a security perspective. Results Literature review validated: Perception of a secure website plays an essential role in the customers’ decision to make an online purchase (El Haddad et al, 2018) Security ranked as the most important e-commerce payment concerns (Nilashi et al (2011). “There is not enough talent to do everything in-house” (Kohli, 2016).

Research Methodology and Qualitative Results (continued) Results Payment Gateways Have two primary components: the payment process and the payment acceptance process (Schneider, 2017; Wiley & White, 2013). PCI-DSS requirements include six logically related categories, Build and Maintain a Secure Network Protect Cardholder Data Maintain a Vulnerability Management Program Implement Strong Access Control Measure Regularly Monitor and Test Networks Maintain an Information Security Policy (Blackwell, 2018; Dahn, n. d. ; PCI Security Council, 2020). ,

Research Methodology and Qualitative Results (continued) Results E-commerce Level 1 compliant PG Vendors Vendor Launched Integrate with. . Advanced Security Cost 2 Checkout 2006 Shopify & Bigcommerce 3 -tier defense 3. 5% + $. 35 4. 5% + $. 45 6% + $. 60 Authorize. Net 1996 Shopify, Volusion & Bigcommerce Customizable filters, Tokenization $25 /month + 2 options Payline 2009 Financial Software (Quickbooks) Third-party programs . 3% of transaction Pay. Pal NA Pay. Pal Express Checkout, Payment Pro Real-time Intelligence with AI learning 2. 9% + $. 30 $30 /month upgrade Stripe 2011 Mobile Apps Two-factor Authentication 2. 9% + $. 30

Survey Research Methodology and Results Student Survey (Quantitative) The purpose of the survey (21 questions) was to gain an understanding of students’ knowledge of Payment Gateways (PGs) and Payment Card Industry Data Security Standards (PCI-DSS) following the completion of a basic undergraduate college e-commerce class. Results: *AVERAGE SCORE 40. 3/55* Only 5 students stated they could define or describe PCI-DSS. Only 6 students were aware of the 12 PCIDSS requirements.

Survey Research Methodology and Results (continued). Students’ Refection:

Feedback / Suggestions for Future Work Welcomed What type of additional research is needed to validate the need to include PGs and PCI-DSS into the Digital Commerce curriculum? What is the best way to validate a change in curriculum will help students obtain a corporate position upon graduation?

References Torpey, E. (2018). Employment growth and wages in e-commerce. U. S. Bureau of Labor Statistics. Retrieved from https: //www. bls. gov/careeroutlook/2018 U. S. Censor Bureau (2019). Quarterly retail e-commerce sales 1 st quarter 2019. Retrieved from https: //www. census. gov/retail/mrts/www/data/pdf/ec_current. pdf Continue to add references (as needed)