What are the risks involved in Electronic Payment Systems?
From the customer's perspective:
- Dishonest merchants or financial service providers
- Stolen payment credentials and passwords
- Disputes over quality of services or goods
From merchant's perspective:
- Forged or copied payment instruments
- Insufficient funds in customers account, especially with off-line payment systems
- Dishonest or slow financial service providers
From the financial service provider's perspective:
- Stolen customer or service credentials
- Forged or copied payment instruments
- Customers not paying (applies only to credit models)