Security measures for the Austrian “PAYCHIP” electronic purse application

Shows a management-oriented description of the background, design principles and security measures of the Austrian nationwide electronic purse scheme (“QUICK”), as well as an experience report about the ongoing process of stating a national security policy and evaluating the level of security for the electronic purse. The considerations address decision-makers and experts interested in the practical issues of maintaining payment security. The author first describes the development and features of the Austrian “PAYCHIP” application (a chip-card based payment infrastructure by Europay Austria), focusing on the QUICK electronic purse. The objectives of the security policy are then discussed, and the author finally explains the background and practical experience of the security evaluation process