Title :
Efficient and Secure Card-based Payment System Based on ANSI X9.59-2006
Author :
Cheong, Chi P. ; Fong, Simon ; Lei, Pouwan
Author_Institution :
Univ. of Macau, Taipa
Abstract :
This paper proposes a new payment system which is based on ANSI X9.59-2006 and adds extra features on top of this standard. The X9.59 is an account based and consumer-oriented payment protocol. It utilizes the existing financial network and financial messages to complete the payment process. However, there are two main limitations in this standard. This paper provides the solution to solve the limitations by adding the merchant authentication feature during payment cycle and to eliminate the requirement of addenda records to be added in the existing financial messages. In addition, the paper provides other functions which are not presented in the X9.59 standard. Three simulation models have been built for the SET, X9.59 and the proposed system in order to analyze their performance and their levels of security.
Keywords :
electronic commerce; security of data; ANSI X9.59-2006; consumer-oriented payment protocol; financial messages; financial network; merchant authentication feature; payment cycle; payment process; secure card-based payment system; ANSI standards; Analytical models; Authentication; Costs; Credit cards; Cryptography; Digital signatures; Protocols; Public key; Security;
Conference_Titel :
E-Commerce Technology and the 4th IEEE International Conference on Enterprise Computing, E-Commerce, and E-Services, 2007. CEC/EEE 2007. The 9th IEEE International Conference on
Conference_Location :
Tokyo
Print_ISBN :
0-7695-2913-5
DOI :
10.1109/CEC-EEE.2007.43
