Application of Electronic Currency on the Online Payment System like PayPal

Credit card payment system is the most popular way to make a purchase on electronic commerce. The main problem about using it is that the customer gives his personal information and credit card number to merchant or payment service provider when he makes a purchase in Internet. The result of this action is the lost of customer’s anonymity and privacy in both the real world and Internet. We propose a new electronic currency scheme which guarantees customer anonymity and privacy. Also, we integrate our scheme with PayPal system.