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Whats Echeck Payment? II

echeck

Acknowledgment: An acknowledgment is sent with the e-check to the sender to inform him about the status of the e-check.
Certification Authority: A bank or other organization issuing end-user certificates. Independently, third parties are available as other approval authorities that are authorized to issue certificates. In the US Treasury market, US Treasury customers have worked with the issuance of documents showing the account status and issuing certificates as the issuer of the certificates issued by the primary approval authority authorized by the banks acting as the approval authority.

 
Advice of payment (AOP): Payment notice is a form of money order information. The payment notice is attached to each e-check depending on the request.
Private Key: A secret mathematical key is used to generate digital signatures or to decrypt passwords of messages of a message. For each private key, only one public key is associated. With e-check, private keys, private signing key and private decryption key are used for signing and decryption. The private signature key is used to digitally sign and redeem e-checks, and is stored in the electronic check book. For each private signature key, there is a certificate that is used to describe the association of the private key with the public key of any party that needs to verify the validity of the signature generated. The private decryption key is used by the creditor software to decrypt the passwords of e-checks mailed by the debtor. The email enrollment process is used to ensure that the debtor is associated with the public key of the creditor of the e-check server, so that the e-checks are encrypted before being sent to the creditor.

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What is Echeck Payment?

echeck

ECheck Security: E Check Security is a combination of the latest technology with established business practices that prevent fraud on e-checks. E check is subject to strict banking and government business standards and practices to ensure system security. In addition, e-check prevents system security from being compromised by the combination of technology tools, encryption of data, digital signatures, certificates, secure email and smart card technology.
Electronic Checkbook: The electronic checkbook is hardware in the form of an electronic markbook that fulfills the functions of the e-checkbook, encryption tools, open and private key pairs, certificates, tools for opening locked software and other functions. In the US Treasury market, the electronic checkbook is included in the smart card and includes clear and private key pairs, encryption tools and certifications for the creditor. It also contains the instructions that the creditor can initiate the software and keep the transaction log log securely.
Electronic Deposit Slip: This is the electronic version of the paper tray. It is in the electronic checkbook of the creditor. The creditor inserts the electronic receipts into the e-tick and e-mails to the bank at two.

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Electronic Check System as an Alternative Payment Tool

echeckThe applicability of the e-check system in the US banking sector has been discussed in the previous research, considering the emergence of the e-check system, what the system is and how it works, the advantages and benefits of such a system in terms of parties and differences from the paper check system. In this study, it is aimed to show difference of e-check system from other payment instruments. In the later part of the study, the technology required for the e-check system was first explained and then the bank card, the automatic clearing house, the banking transactions, the credit card and the secure electronic transaction systems and the e-check system were compared among the other payment systems. Before continuing to work, here are some definitions of the terms that are often used in narratives so that our explanations and the system can be better understood:
Public Key: The mathematical key is used as a link to the corresponding private key, and is widely used and accessible to the person who needs it. With e-check, each payee uses open keys to approve encrypted mail and digital signatures. In the US Treasury market, each payee has a copy of the open signing key of the American Treasury and the bank’s open encryption key. The US Treasury and its bank take a copy of the creditor’s public key in the registration process, which is part of the creditor’s software installation.

 

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