Development Method for Shariah Compliant e-Commerce Payment Processing

The article is a response to rapid uptake of online transactions that encompasses the secure transactions that comply with the Shariah principles. The algorithm in the articles proposed the inclusion of Intermediate Shariah Transaction Party (ISTP) as an intermediary for communications between merchant and customers before the transactions can be concluded. The design facilitates the efficient and effective e-commerce transaction process to alleviate three common shortcomings in e-commerce transactions namely riba’, gharar and the validity and the legality of e-commerce transactions from Shariah point of view without compromising the security aspects of the transactions. The designs were refined and presented before by the Islamic scholars before the final design was agreed on. This invention will become a major breakthrough in Shariah compliance ecommerce transactions in order to serve 2.1 billion Muslims Ummah worldwide.