| Abstract [eng] |
Fast developing and growing of e-commerce determined the coming of modern payment systems. Intention of users to pay safely on the internet impacted the decrease of use of traditional payment system such as credit cards. It’s started to look for and design alternative ways of payment, such as smart cards systems or systems using software for saving monetary value. Traditional payment systems currently used by most e-commerce sites are not suitable for high volume, tiny valued transactions. There is a need of payment system that is cost effective, secure and easy to use. The purpose of this work is to propose a model of semi-online electronic money circulation system for small and average payments, which is based on a concept of R. Rivest and A. Shamir created micropayment system called Payword. The proposed model’s architecture and protocol are explained in detail. To increase performance of the system there was done a research to find out which hash algorithm and electronic signature algorithm is most suitable for the proposed model. |
