Trust and Security in Electronic Payments: What We Have and Need to Know?
The growth of open networks created the interest to commercialise it. The establishment of an electronic business mechanism must be accompanied by a digital-electronic payment system to transfer the value of transactions. Financial organizations are requested to offer a secure e-payment synthesis with equivalent levels of trust and security served in conventional paper-based payment transactions. The paper addresses the challenge of the first trade problem in e-commerce, provides a brief literature review on electronic payment and attempts to explain the underlying concept and method of trust in relevance to electronic payment.
[1] B. Corbitt, T. Thanasankit, H.Yi, Trust and e-commerce: a study of
consumer perceptions, Electronic Commerce Research and
Applications, 2, 2003, pp. 203-215
[2] R. Lukose, B. Huberman, A methodology for managing risk in
electronic transactions over the Internet, Netnomics, 2000, pp. 25-
36
[3] S. Gaines, Z. Norman, Some Security Principles and Their
Application to Computer Security, the National Science Foundation
under Grant No.MCS76-00720
[4] G. Whitson, Computer security: theory, process and management-
Consortium for Computing Sciences in Colleges, JCSC 18, 2003
[5] D. Pipkin, Information Security. Prentice Hall PTR, 2000
[6] L. Fera, M. Hu, G. Cheung, M. Soper, Digital cash payment
systems, Report, 1996
[7] S. Katsikas, The Role of Public Key Infrastructure in Electronic
Commerce- The electronic journal for e-Commerce Tools &
Applications, eJETA.org, Vol.1, No.1, 2002
[8] C. Westland, Transaction Risk in Electronic Commerce, Decision
Support Systems 33, Elsevier, 2002, pp. 82-103
[9] P. Skevington, T. Hart, Trusted third parties in electronic
commerce, BT Technology Journal, Vol. 15, No 2, 1997
[10] S. Lancaster, S. Yen, S. Huang, Public key infrastructure: a micro
and macro analysis, Computer Standards & Interfaces 25, Elsevier
Science, 2003, pp. 437-446
[11] I. Mavridis, G. Pangalos, T. Koukouvinos, S. Muftic, A Secure
Payment System for Electronic Commerce, 10th International
Workshop on Database & Expert Systems Applications,
Florence, Italy, 1999
[12] P. Havinga, G. Smit, A. Helme, Survey of electronic payment
methods and systems, University of Twente, department of
Computer Science
[13] electronic Payment Systems Observatory (ePSO), Building Security
and Consumer Trust in Internet Payments, Background Paper No.
7, 2002
[14] Yu Hsiao-Cheng, His Kuo-Hua, Kuo Pei-Jen, Electronic payment
systems: an analysis and comparison of types, Technology in
Society 24, 2002, pp. 331-347
[15] D. Abrazhevich, Classification and Characteristics of Electronic
Payment Systems, Lecture Notes in Computer Science, Vol. 2115,
2001, pp. 81-90
[16] J.L. Abad-Peiro, N. Asokan, M. Steiner, M. Waidner, Designing a
generic payment service, Technical Report 212ZR055, IBM Zurich
Research Laboratory, 1996, Availiable:
http://www.semper.org/info/212ZR055.ps.gz,
[17] Y. Tan, A Trust Matrix Model for Electronic Commerce, Trust
Management, LNCS Springer-Verlag, 2692, 2003, pp. 33-45
[18] J. Camp, Designing for Trust, LNAI 2631, Springer-Verlag, 2003,
pp. 15-29
[19] J. Daniel, Patterns of Trust and Policy, New Security Paradigms
Workshop Langdale, 1998, Cumbria UK
[20] S. Brainov, T. Sandholm, Contracting with Uncertain Level of
Trust, 1999, ACM 158113-176
[21] M. Patton, A. Josang, Technologies for Trust in Electronic
Commerce, Electronic Commerce Research, Vol. 4, 2004, pp. 9-21
[22] ITU-T Recommendation X.509 (2000) Information Technology,
Open systems interconnection - The Directory: Public-key and
attribute certificate frameworks
[23] C. Corritorea, B. Krachera, S. Wiedenbeck, On-line trust: concepts,
evolving themes, a model, Int. J. Human-Computer Studies 58,
2003, pp. 737-758
[24] J. Viega, T. Kohno, B. Potter, Trust (and mistrust) in secure
applications, Communications of the ACM, Vol. 44, No. 2, 2001
[25] T. Beth, M. Borcherding, B. Klien, Valuation of Trust in Open
Networks, Proceedings of the European Symposium on Research in
Computer Security, Brighton, 1994
[26] M. Chesher, R. Kaura, Electronic commerce and business
communications, Springer-Verlag, 1998
[1] B. Corbitt, T. Thanasankit, H.Yi, Trust and e-commerce: a study of
consumer perceptions, Electronic Commerce Research and
Applications, 2, 2003, pp. 203-215
[2] R. Lukose, B. Huberman, A methodology for managing risk in
electronic transactions over the Internet, Netnomics, 2000, pp. 25-
36
[3] S. Gaines, Z. Norman, Some Security Principles and Their
Application to Computer Security, the National Science Foundation
under Grant No.MCS76-00720
[4] G. Whitson, Computer security: theory, process and management-
Consortium for Computing Sciences in Colleges, JCSC 18, 2003
[5] D. Pipkin, Information Security. Prentice Hall PTR, 2000
[6] L. Fera, M. Hu, G. Cheung, M. Soper, Digital cash payment
systems, Report, 1996
[7] S. Katsikas, The Role of Public Key Infrastructure in Electronic
Commerce- The electronic journal for e-Commerce Tools &
Applications, eJETA.org, Vol.1, No.1, 2002
[8] C. Westland, Transaction Risk in Electronic Commerce, Decision
Support Systems 33, Elsevier, 2002, pp. 82-103
[9] P. Skevington, T. Hart, Trusted third parties in electronic
commerce, BT Technology Journal, Vol. 15, No 2, 1997
[10] S. Lancaster, S. Yen, S. Huang, Public key infrastructure: a micro
and macro analysis, Computer Standards & Interfaces 25, Elsevier
Science, 2003, pp. 437-446
[11] I. Mavridis, G. Pangalos, T. Koukouvinos, S. Muftic, A Secure
Payment System for Electronic Commerce, 10th International
Workshop on Database & Expert Systems Applications,
Florence, Italy, 1999
[12] P. Havinga, G. Smit, A. Helme, Survey of electronic payment
methods and systems, University of Twente, department of
Computer Science
[13] electronic Payment Systems Observatory (ePSO), Building Security
and Consumer Trust in Internet Payments, Background Paper No.
7, 2002
[14] Yu Hsiao-Cheng, His Kuo-Hua, Kuo Pei-Jen, Electronic payment
systems: an analysis and comparison of types, Technology in
Society 24, 2002, pp. 331-347
[15] D. Abrazhevich, Classification and Characteristics of Electronic
Payment Systems, Lecture Notes in Computer Science, Vol. 2115,
2001, pp. 81-90
[16] J.L. Abad-Peiro, N. Asokan, M. Steiner, M. Waidner, Designing a
generic payment service, Technical Report 212ZR055, IBM Zurich
Research Laboratory, 1996, Availiable:
http://www.semper.org/info/212ZR055.ps.gz,
[17] Y. Tan, A Trust Matrix Model for Electronic Commerce, Trust
Management, LNCS Springer-Verlag, 2692, 2003, pp. 33-45
[18] J. Camp, Designing for Trust, LNAI 2631, Springer-Verlag, 2003,
pp. 15-29
[19] J. Daniel, Patterns of Trust and Policy, New Security Paradigms
Workshop Langdale, 1998, Cumbria UK
[20] S. Brainov, T. Sandholm, Contracting with Uncertain Level of
Trust, 1999, ACM 158113-176
[21] M. Patton, A. Josang, Technologies for Trust in Electronic
Commerce, Electronic Commerce Research, Vol. 4, 2004, pp. 9-21
[22] ITU-T Recommendation X.509 (2000) Information Technology,
Open systems interconnection - The Directory: Public-key and
attribute certificate frameworks
[23] C. Corritorea, B. Krachera, S. Wiedenbeck, On-line trust: concepts,
evolving themes, a model, Int. J. Human-Computer Studies 58,
2003, pp. 737-758
[24] J. Viega, T. Kohno, B. Potter, Trust (and mistrust) in secure
applications, Communications of the ACM, Vol. 44, No. 2, 2001
[25] T. Beth, M. Borcherding, B. Klien, Valuation of Trust in Open
Networks, Proceedings of the European Symposium on Research in
Computer Security, Brighton, 1994
[26] M. Chesher, R. Kaura, Electronic commerce and business
communications, Springer-Verlag, 1998
@article{"International Journal of Business, Human and Social Sciences:63085", author = "Theodosios Tsiakis and George Stephanides and George Pekos", title = "Trust and Security in Electronic Payments: What We Have and Need to Know?", abstract = "The growth of open networks created the interest to commercialise it. The establishment of an electronic business mechanism must be accompanied by a digital-electronic payment system to transfer the value of transactions. Financial organizations are requested to offer a secure e-payment synthesis with equivalent levels of trust and security served in conventional paper-based payment transactions. The paper addresses the challenge of the first trade problem in e-commerce, provides a brief literature review on electronic payment and attempts to explain the underlying concept and method of trust in relevance to electronic payment.
", keywords = "Electronic payment, security, trust, electronic business mechanism.", volume = "1", number = "5", pages = "118-4", }
