Author(s)

T. Tsiakis, G. Stephanides & G. Pekos

Abstract

The development of electronic commerce makes the issue of paying over open networks very important. Electronic payment is the backbone of e-commerce transactions. The paper defines the role of cryptography and introduces its basis such as the mathematics principles of public key cryptography. Next it identifies the infrastructure for secure payments over the Internet, compares the existing payments mechanisms and methods and gives the general properties. It concludes that electronic payment systems should be developed to satisfy all requirements of (security through encryption models) electronic commerce. That means that the main idea of systems which convert conventional money to electronic equivalent is achieved in such a way. Keywords: cryptography, computer & network security, electronic payments, data security, PKC, digital signatures, e-comm

Keywords