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Creditcard processing over Internet?

 
Ranch Hand
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Hi Guys,

Littlebit background for my Question:
-------------------------------------
I have done things like credit card transactions authorization using POS (Point-of-Sale) terminals and magnetic/EMV cards. In this case, security issues are handled by properitory APIs developed by my company. Also the transactions goes on private network of an issuing bank (Visa,Mastercard). Here there are lot of parties involved like acquiring bank,issuing bank,merchant and customer. The protocol used is ISO 8583 and security is PKI.


Question:
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I would like to understand that if a merchant (who is using POS supplied by acquiring bank) wishes to setup is own site and allows customers to purchase online (Not really new now except security applied here!), How it actually processes the credit card transaction? What sort of security issues applies and what are the techniques?

Because, A person developing a site will have no clue how he is going to get authorization from customer's bank? Also some websites (Indian railway!) accepts debit cards also. In that case, certainly more secuirty is required, So how it basically all works on a public network like Internet?

Is there any Internet alternative of EMV cards? In case of magnetic credit cards, we have PAN number,CVV & Exp date so we just do manual key entry on a form and send. But in case of EMV card, it requires authentication between customer and device (device could be POS or Internet browser). so does anybody know, somewhere in the world this EMV thing happening on internet?
 
Wanderer
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This thread should really be in the Security forum, which is where this week's book promo is taking place. There was a an error in the e-mail announcing this promotion, incorrectly giving the URL of the OO/Patterns forum instead of the Security forum. I'm moving this thread to Security; please continue the conversation there.
 
With a little knowledge, a cast iron skillet is non-stick and lasts a lifetime.
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