ID-Based Certificateless Electronic Cash on Smart Card against Identity Theft and Financial Card Fraud

Secure electronic payment instruments play an important role in retail electronic commerce. As in most countries, people in Taiwan often use credit cards for payments on Internet shopping. However, the information contained in the card includes sensitive data like card number, valid date, and CVC (Card Verification Code) which all easily suffer data leakage, or impersonation attacks. This may cause the banks, merchants, or user to suffer serious losses. In this paper, we propose an IDbased untraceable electronic cash without card number or personal information to mitigate the risk of data leakage. Meanwhile, our method also considers preventing the anonymity abuse and adds the function of anonymity revocation through a trust party. In addition, due to the proposed is an IDbased scheme, it has the advantage of PKI (Public Key Infrastructure) free and thus save the certificate management cost.