An Improved and Efficient Micro-payment Scheme

The rapid growth of data communications networks in recent years has led to enormous development in electronic commerce. Internet banking and trading are two important applications that execute financial transaction from anywhere in the world. This enables banks and merchants to simplify their finan...

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Autores principales:	Bayyapu,Praneetha R, Das,Manik Lal
Lenguaje:	English
Publicado:	Universidad de Talca 2009
Materias:	Micro-payment Hash chain Blind signature Double spending Electronic commerce
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-18762009000100008
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spelling	oai:scielo:S0718-187620090001000082018-10-12An Improved and Efficient Micro-payment SchemeBayyapu,Praneetha RDas,Manik Lal Micro-payment Hash chain Blind signature Double spending Electronic commerce The rapid growth of data communications networks in recent years has led to enormous development in electronic commerce. Internet banking and trading are two important applications that execute financial transaction from anywhere in the world. This enables banks and merchants to simplify their financial transaction process as well as to provide customer friendly service 24-hours a day. On one hand the cost of manpower and infrastructure comes down drastically and on the other hand the cost of transportation, third party royalty and securing customer information is increased. Electronic micro-payment is one of the most important research topics in electronic commerce, particularly, low-cost online payment scenarios and offline payments in rural areas. In this paper, we discuss some of the important micro-payment schemes, observe their merits and limitations, and then propose an improved micro-payment scheme. We discuss two basic micro-payment schemes, which use the public/private key concept and then we review another scheme that uses the concept of hash chain. We observe certain limitations in these and related schemes, which motívate us to extend one of the attractive schemes, namely, the Hwang and Sung’ scheme [8], towards more efficient, retaining all other features intact without compromising the security strength of the scheme. We compare the improved scheme with others and show that the improved scheme provides better security and efficiency, which enables the scheme viable for real-world applications, in particular, in resource-constrained environments such as mobile payment through handheld devices or customer’s chip card for debit/credit transaction through point of sale terminal.info:eu-repo/semantics/openAccessUniversidad de TalcaJournal of theoretical and applied electronic commerce research v.4 n.1 20092009-04-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-18762009000100008en10.4067/S0718-18762009000100008
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	Micro-payment Hash chain Blind signature Double spending Electronic commerce
spellingShingle	Micro-payment Hash chain Blind signature Double spending Electronic commerce Bayyapu,Praneetha R Das,Manik Lal An Improved and Efficient Micro-payment Scheme
description	The rapid growth of data communications networks in recent years has led to enormous development in electronic commerce. Internet banking and trading are two important applications that execute financial transaction from anywhere in the world. This enables banks and merchants to simplify their financial transaction process as well as to provide customer friendly service 24-hours a day. On one hand the cost of manpower and infrastructure comes down drastically and on the other hand the cost of transportation, third party royalty and securing customer information is increased. Electronic micro-payment is one of the most important research topics in electronic commerce, particularly, low-cost online payment scenarios and offline payments in rural areas. In this paper, we discuss some of the important micro-payment schemes, observe their merits and limitations, and then propose an improved micro-payment scheme. We discuss two basic micro-payment schemes, which use the public/private key concept and then we review another scheme that uses the concept of hash chain. We observe certain limitations in these and related schemes, which motívate us to extend one of the attractive schemes, namely, the Hwang and Sung’ scheme [8], towards more efficient, retaining all other features intact without compromising the security strength of the scheme. We compare the improved scheme with others and show that the improved scheme provides better security and efficiency, which enables the scheme viable for real-world applications, in particular, in resource-constrained environments such as mobile payment through handheld devices or customer’s chip card for debit/credit transaction through point of sale terminal.
author	Bayyapu,Praneetha R Das,Manik Lal
author_facet	Bayyapu,Praneetha R Das,Manik Lal
author_sort	Bayyapu,Praneetha R
title	An Improved and Efficient Micro-payment Scheme
title_short	An Improved and Efficient Micro-payment Scheme
title_full	An Improved and Efficient Micro-payment Scheme
title_fullStr	An Improved and Efficient Micro-payment Scheme
title_full_unstemmed	An Improved and Efficient Micro-payment Scheme
title_sort	improved and efficient micro-payment scheme
publisher	Universidad de Talca
publishDate	2009
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-18762009000100008
work_keys_str_mv	AT bayyapupraneethar animprovedandefficientmicropaymentscheme AT dasmaniklal animprovedandefficientmicropaymentscheme AT bayyapupraneethar improvedandefficientmicropaymentscheme AT dasmaniklal improvedandefficientmicropaymentscheme
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An Improved and Efficient Micro-payment Scheme

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