Electronic Payment Systems – Payment Gateways and Data Security Standards

Abstract

The use of mobile applications has allowed electronic transactions to be made anytime, anywhere, and by anyone. The Internet has made it possible for businesses to expand their reach across the globe. As a guiding agent for purchasing decisions, social media’s proliferation has expanded businesses’ ability to generate revenue [1]. In short, e-commerce has become a mainstay in the way consumers shop. The findings related to this study are three-fold. First, a systematic and rigorous approach is applied to research the importance of Payment Gateways and the Payment Card Industry Data Security Standards in today’s electronic marketplace. Next, a quantitative survey was administered to college-level students to validate the need to expand the course curriculum. Lastly, suggestions for future studies are provided to help bridge the gap between academia and the corporate world. When combined, this information will equip students with the needed knowledge to succeed when they enter the e-commerce workforce. Keywords: Payment Gateways, Data Security Standards, Electronic Payment Systems DOI: 10.7176/JEP/12-3-21 Publication date: January 31 st 2021