Spending Programs: A Tool for Flexible Micropayments
نویسندگان
چکیده
Micropayments are electronic payments of small amount. Given their low value, the cost of the corresponding electronic transactions should also be kept low. Current micropayment schemes allow a regular amount of money withdrawn from a bank to be split into fixedvalue coupons, each of which is used for one micropayment. A more flexible mechanism is proposed in this paper, whereby coupons of variable value can be generated by a spending program without increasing the transaction cost. Moreover, the spending program allows one of several alternative ways of splitting the amount withdrawn into re-usable coupons to be selected in real-time.
منابع مشابه
Decentralized Anonymous Micropayments
Micropayments (payments worth a few pennies) have numerous potential applications. A challenge in achieving them is that payment networks charge fees that are high compared to “micro” sums of money. Wheeler (1996) and Rivest (1997) proposed probabilistic payments as a technique to achieve micropayments: a merchant receives a macro-value payment with a given probability so that, in expectation, ...
متن کاملMinimizing the number of tool switches in flexible manufacturing cells subject to tools reliability using genetic algorithm
Nowadays, flexible manufacturing systems play an effective role in a variety of production and timely response to the needs of their customers. Flexible manufacturing cell is a part of this system that includes machines with flexibility in manufacturing different parts. For many years, minimizing the number of tool switches in the machines has been studied by the researchers. Most research in t...
متن کاملPeppercoin Micropayments
We present the “Peppercoin” method for processing micropayments efficiently. With this method, a fraction of the micropayments received are determined, via a procedure known as “cryptographic selection,” to qualify for upgrade to a macropayment. The merchant deposits the upgraded micropayments as macropayments, and merely logs locally the non-qualifying micropayments. In this manner, the mercha...
متن کاملEfficiency of Flexible Budgetary Institutions By Renee
Which budgetary institutions result in efficient provision of public goods? We analyze a model with two parties bargaining over the allocation to a public good each period. Parties place different values on the public good, and these values may change over time. We focus on budgetary institutions that determine the rules governing feasible allocations to mandatory and discretionary spending pro...
متن کاملPersonal communication services in wireless networks
The paper presents modern personal services and new trends observed in evolution of wireless services. The article covers voice and data transmission services offered in mobile networks as well as information services delivered to users over Internet/IP networks. With reference to voice services, selected GSM services based on IN services platform, e.g., the services of flexible scenarios are d...
متن کامل