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Electronic payment schemes, a comprehensive index of electronic payment schemes and a brief overview of their relationship to the framework is provided. The framework consists of two axes, the levels of abstraction at which the protocol is analyzed and the payment model considered.

Many businesses, including both the largest of corporations and small retailers, rely on electronic payment system, provided in most instances by the major banks, to accept payments. Essentially these systems provide companies with an efficient and secure means of collecting payments, transferring value and managing cash flows.

Security tokens, authentication techniques, access controls, confidentiality measures and data transmission controls are all important considerations for electronic payment systems. An understanding of the key components, underlying risks, key control features, and workable procedures must be obtained before an audit can make recommendations to management about safeguarding assets and payments in a cost effective and secure way. Similarly, management needs to be informed if the auditor is to have any hope of having their findings and recommendations accepted.