A NOVEL PEER-TO-PEER PAYMENT SYSTEM

Despoina Palaka, Petros Daras, Kosmas Petridis, Michael G. Strintzis

Abstract

In this paper a novel payment system for Peer-to-Peer (P2P) commerce transactions is presented. It implements electronic cash-based transactions, between buyers and merchants. In this system, financial institutions become partners in the e-commerce transaction, conducted by their customers over the Internet. The innovation of the proposed system is the reduction of the involvement of the financial institutions to ancillary support services. Moreover, the proposed system can be characterized as distributed allocation of provinces to merchants, who are responsible for locally authorizing payments. Finally, it is optimized for repeated payments to the same merchants.

References

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Paper Citation


in Harvard Style

Palaka D., Daras P., Petridis K. and G. Strintzis M. (2004). A NOVEL PEER-TO-PEER PAYMENT SYSTEM . In Proceedings of the First International Conference on E-Business and Telecommunication Networks - Volume 1: ICETE, ISBN 972-8865-15-5, pages 245-250. DOI: 10.5220/0001388802450250


in Bibtex Style

@conference{icete04,
author={Despoina Palaka and Petros Daras and Kosmas Petridis and Michael G. Strintzis},
title={A NOVEL PEER-TO-PEER PAYMENT SYSTEM},
booktitle={Proceedings of the First International Conference on E-Business and Telecommunication Networks - Volume 1: ICETE,},
year={2004},
pages={245-250},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0001388802450250},
isbn={972-8865-15-5},
}


in EndNote Style

TY - CONF
JO - Proceedings of the First International Conference on E-Business and Telecommunication Networks - Volume 1: ICETE,
TI - A NOVEL PEER-TO-PEER PAYMENT SYSTEM
SN - 972-8865-15-5
AU - Palaka D.
AU - Daras P.
AU - Petridis K.
AU - G. Strintzis M.
PY - 2004
SP - 245
EP - 250
DO - 10.5220/0001388802450250