A New Micro-Payment System Using General Payword Chain

Authors:
Ching-Te Wang;Chin-Chen Chang;Chu-Hsing Lin
Affiliations:
Center of General Education, National Chin-Yi Institute of Technology, Taichung, Taiwan 411, R.O.C. wang807@chinyi.ncit.edu.tw;Department of Computer Science and Information Engineering, National Chung Cheng University, Chiayi, Taiwan 621, R.O.C. ccc@cs.ccu.edu.tw;Department of Computer Science and Information Engineering, Tunghai University, Taichung, Taiwan 407, R.O.C. chlin@mail.thu.edu.tw
Venue:
Electronic Commerce Research
Year:
2002

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Abstract

In recent years electronic commerce has grown rapidly as Internet and web technologies have progressed. Therefore, a secure and efficient payment system for general-purpose applications is undoubtedly becoming an important issue. Rivest and Shamir have proposed a micro-payment scheme which is user-specific and vendor-specific. However, in their scheme, it is required that the user generates a new payword chain for each vendor from which the user makes a purchase. In this paper, we propose a new micro-payment system that enables users to make purchases from multiple vendors. Only one payword chain has to be generated which makes this system very efficient. A sequence of payword chains which represents a set of small payments can be authenticated and payment can be made by an efficient method. A lower computation cost and improved system performance is also achieved. Therefore, the new micro-payment system has multiple practical applications.