AN EFFICIENT FAIR ELECTRONIC PAYMENT SYSTEM BASED UPON NON-SIGNATURE AUTHENTICATED ENCRYPTION SCHEME

In this paper, we first propose a non-signature authenticated encryption scheme, which accomplishes the message authentication, confidentiality, and integrity for communications on an open channel. Compared with the related works, the proposed scheme does not require constructing the digital signature so that the computation costs can be reduced. Based upon the non-signature authenticated encryption scheme, we further propose a fair electronic payment system such that the payment information can be securely transmitted on Internet. Moreover, the proposed electronic payment system can solve the synchronization problem between the payer and the merchant. Therefore, the transaction fairness of the payer and the merchant can be efficiently accomplished in off-line environments. According to the above-mentioned advantages, the proposed electronic payment system provides an efficient and practical payment tool for electronic transactions.