Complex purchase protocols allow several participants (merchants and clients) to be involved within a single purchase transaction. Moreover, they provide the possibility to merge diierent heterogeneous payments into one atomic transaction. Although such complex purchases are urgently required, they are, so far, neither provided by existing protocols nor by available products or research prototy...

Financial transactions increase according to the economic growth of the nation. As India’s economy is growing rapidly large amount of money transactions are increasing rapidly. Apart from currency notes and credit/debit cards cheques plays very vital role in transaction of large amount of money for their ease and convenience. Due to this cheques are vulnerable to forgeries by anti-social elemen...

ITE JOURNAL / MARCH 2001 THE ORLANDO-ORANGE COUNTY Expressway Authority (OOCEA) operates a 132-kilometer toll-road system in Orange County, FL, USA. This network includes 10 mainline toll plazas and 38 tollbooth ramps in operation. In mid-May 1994, the state-of-the-art electronic toll collection (ETC) system known as E-PASS that utilizes automated vehicle identification (AVI) technology was ins...

We use logit analysis to exploit a self-collected dataset on the payment and delivery options offered by the vast majority of B2C websites in 5 Central Asian transition economies. Specifically, we conduct a supply-side test of the Transaction Context Model, which highlights the role of perceived risk. Our results confirm that higher product risk increases the probability that e-retailers adopt ...

Card payments are getting more and more popular across the world. The dominant standard used for Electronic Funds Transfer transaction is EMV. It is widely used across Europe and Canada, and currently it is being introduced in the USA. The most frequently used Cardholder Veri cation Method in EMV transaction is PIN, which requires from the payment terminal to be equipped with pinpad which incre...

Today internet has become a trusted factotum of everyone. Almost all payments like tax, insurance, bank transaction, healthcare payment, payment in e-commerce are done digitally through debit or credit card or through e-wallet. People share their personal information through social media like Facebook. Twitter, WhatsApp etc. The government of every developing country is going to embrace e-Gover...

The Chip Authentication Programme (CAP) has been introduced by banks in Europe to deal with the soaring losses due to online banking fraud. A handheld reader is used together with the customer’s debit card to generate one-time codes for both login and transaction authentication. The CAP protocol is not public, and was rolled out without any public scrutiny. We reverse engineered the UK variant ...

In this paper we present an attack which allows fraudulent transactions to be collected from EMV contactless credit and debit cards without the knowledge of the cardholder. The attack exploits a previously unreported vulnerability in EMV protocol, which allows EMV contactless cards to approve unlimited value transactions without the cardholder's PIN when the transaction is carried out in a fore...

This paper provides a model to explain the shakeout of the U.S. ATM and debit card industry, which emphasizes the role that a major product innovation — introducing the debit function in the mid 1980s — played in driving the network consolidation. Consistent with the theory, our empirical findings show that large networks had a better chance of adopting the debit innovation and surviving the sh...

World is globalising at a very fast pace and internet playing greater role in reducing the distance communication gap among people across globe. This digital world where sharing of thoughts, ideas, trades etc. with rest have become easy fast. Electronic media has made faster quicker nations. India also not untouched from this globalised world. In order to benefit society era digitalisation revo...