Security issues on server-side credit-based electronic payment systems

Many electronic payment systems have been developed to facilitate the purchase of goods and services over the Internet. For the class of goods and services that can be categorized as low-value transactions, they require electronic payment systems that are efficient but reasonably secure. This class of goods and services includes news clippings, songs, video clips, etc. For efficiency the payment systems, commonly called "micropayment" systems, are designed with lightweight security measures, and hence could be attractive targets of malicious attacks. This paper proposes three architecture designs for server-side credit-based electronic payment systems to resist external attacks. A simulation model has been built for the proposed architectures to analyze their performance and their levels of security. Such analyses should be useful for designers of electronic payment systems, especially those of micropayment systems.