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
level of security served in conventional paper-based payment
transactions. PKI, which is functioning as a chain of trust in security
architecture, can enable security services of cryptography to epayments,
in order to take advantage of the wider base either of
customer or of trading partners and the reduction of cost transaction
achieved by the use of Internet channels. The paper addresses the
possibilities and the implementation suggestions of PKI in relevance
to electronic payments by suggesting a framework that should be
followed.
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.