Ecommerce payment mode

E-Cash Payment System:

A company, DigiCash, has leaded the way the utilization of electronic cash or e-cash. Mystery of the purchaser is the key characteristic of this system. There are three members in it, namely, purchaser, mercantile and depository. Both, symmetric and asymmetric kind of cryptography is used in this scheme. Purchasers and mercantile, in cooperation, have accounts in the E-cash depository. Buyers pull out coins alongside their account and stock up them in e-cash wallet software (Cyber wallet) on their computer. Cyber wallet provisions and manages coins and records every business deal.


The prevalence used in this payment system is called an e-cash coin or just coin.

A coin consists of three fundamentals or parts:

  • serial #
  • Key version and
  • Serial no. signed by the confidential or confidential key of certain value of the e-cash depository.

Each coin has a distinctive value, partially minted by the customer and partially by the e-cash depository.

Minting of the coin:

An extended serial no. is arbitrarily generated by the customer's Cyber wallet in array to mint a coin. This serial no. is unsighted, which means that it is multiplied with an unsighted factor "r" and propel to the e-cash depository for marks. Thus, the e-cash depository cannot observe the serial no. it is signing. Key version (matching community key of the depository) is also part of the coin, and is propel typically at the occasion of account opening. An e-cash depository may have 1 dollar signature, 5 dollar signature or 10 dollar signature etc. If the customer wants to issue a coin of 2 dollars then e-cash depository would use its confidential or confidential enter of 2 dollars to mark the serial no.

How depository marks blindly?

Cyber-wallet produces a serial # and an unsighted factor 'r'. This unsighted factor "r" is only known to the customer. Community key of the depository consists of modulus 'm' and a no. 'E'. Depository marks with its confidential key of 5 dollars (d5) such that Depository cannot see serial # it is marking since it does not know 'r'.

E-cash depository marks the serial nos. and debits the bank account of the customer. A customer must maintain his account with the depository. The coins are encrypted with the community key of the depository and are forwarded to the mercantile for onwards deposit to the depository. The mercantile cannot, therefore, view these coins. E-cash depository decrypts the coins using its matching confidential key and contrasts the serial nos. thus exposed, with its catalog of spent coins to make sure the soundness of the coins.

Electronic Checks:

An electronic check holds an instruction to the payer's depository to create a specified imbursement to a payee. The person paying and the payee are issued digital official documents. All individuals able of issuing electronic checks will have an electronic check book machine. An electronic check book machine is a mixture of safe hardware such as a smart card and suitable software. A smart card is typically the dimension of a credit card having particular software laden on it. Information concerning confidential/confidential key, certificate information and list of what checks has been checked/ endorsed is usually stored in the smart card.

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