Micropayments: the final frontier for electronic consumer payments

Small payments of less than $5 have resisted the wave of electronification that has swept consumer payments in recent years. However, a number of innovations — both new technologies and new ways of doing business — have done much to make such electronic “micropayments” less expensive and more convenient. Now, having proven themselves in several online markets, micropayments are poised to make inroads at the physical point of sale. This paper looks at some of the success stories (and failures), both in the U.S. and abroad, to identify possible conditions for success and to gauge the outlook for the future. It finds that industry structure, the coordination of standards, and customer preferences and experiences have all influenced the development of these products. While different markets around the world have supported different types of solutions, the successful products have delivered clear utility to the consumer, along with compelling economics for the different parties in the value chain. With critical mass in sight, the future looks promising.Electronic funds transfers

The Architecture of Coupon-Based, Semi-off-Line, Anonymous Micropayment System for Internet of Things

Part 6: Computational Systems ApplicationsInternational audienceIn the Internet of Things a lot of business opportunities may be identified. The devices in IoT may create ad-hoc temporary networks to provide services or share some resources. Such services are characterized by a great economical potential, especially while provided at mass-scale and for incidental users. However, the development of paid services or resources in IoT is hampered by relatively big transaction costs of payment operations. To deal with this problem, we propose a novel architecture of coupon based, semi off line, anonymous micropayment system to enable transactions in the scope of Internet of Things. User anonymity and security is assured by the usage of standard cryptographic techniques together with novel architectural design of the payment processes. Utilization of a hash function allows generating and verifying electronic coins in computationally efficient way, so as to be executed even in hardware- and software-restricted environment such as Internet of Things

New kid on the block: a strategic archetypes approach to understanding the Blockchain

Emerging Blockchain technologies have received considerable attention in the financial services domain. This is due to the potential of those technologies to radically disrupt existing financial systems by introducing new types of assets and new ways of managing transactions. Yet many of these technologies are so new and seemingly complex that strategic decision-makers may not fully understand the alternative Blockchain technologies on offer, let alone the costs and benefits associated with specific instantiations. This paper reviews the Blockchain literature and identifies eight key system design characteristics. From this, four Blockchain archetypes emerge, each of which is presented using a recognizable existing system to allow tangible discussion of similarities and differences across archetypes. The identification of these archetypes provides an important foundation for future research, enabling in-depth research to be conducted that will outline the costs, benefits, risks, and issues associated with each archetype

Secure Credits for Micro Payments Scheme using Encrypted Techniques

Online shopping payment scheme is one of the popular in recent years. During payment process the attackers aim to stealing the customer date by targeting the point of scale (PoS) system. Increasing malware that ca steal card data as soon they are read by the device details. This server is identified from legal to illegal control is provided to customer key approach. Once collect the details at customer side are customer account is disabling automatically by erasable PUFs. It includes that limited activity as server to client transaction is sure. Attackers often aim at staling such customer data by targeting the Point of scale (for sort, PoS) system. I.e. the point at which retailer first acquires customer data. Modern PoS system is powerful computer equipped with card reader and running specialized software. Increasingly often, user device are leveraged as input to the PoS. In these scenarios, malware that can steal card data as soon as they are read by the device has flourished .As such as, in case where customer and vendor are persistently or intermittently disconnected from the net work, no secure on-line payment is possible. This work describes SPEF, over up to date approaches I term of flexibility and security. To the best of our knowledge SPEF is the first solution that provide secure fully off line payment while being resilient to all currently known Pops breaches. In particular details SPEF architecture components and protocols .Further a thorough analysis of SPEF functional security properties is provider showing its effectiveness and visibility

The State of Cryptocurrencies, Their Issues and Policy Interactions

This paper focuses on the evolution of cryptocurrencies. It traces the history of early cryptography, the ‘cypherpunk’ movement, and how the work of some cyber libertarians and cryptographers enabled the emergence of popular cryptocurrencies. The paper then focuses on Bitcoin. It delves into the technology behind the Bitcoin architecture and shows how exactly this technology works. The paper then does an analysis of security and regulatory considerations that affect the growth of Bitcoin-based businesses. The paper concludes with some suggestions for future work in the area

OpenTor: Anonymity as a Commodity Service

Despite the growth of the Internet and the increasing concern for privacy of online communications, current deployments of anonymization networks depends on a very small set of nodes that volunteer their bandwidth. We believe that the main reason is not disbelief in their ability to protect anonymity, but rather the practical limitations in bandwidth and latency that stem from limited participation. This limited participation, in turn, is due to a lack of incentives. We propose providing economic incentives, which historically have worked very well. In this technical report, we demonstrate a payment scheme that can be used to compensate nodes which provide anonymity in Tor, an existing onion routing, anonymizing network. We show that current anonymous payment schemes are not suitable and introduce a hybrid payment system based on a combination of the Peppercoin Micropayment system and a new type of "one use" electronic cash. Our system claims to maintain users' anonymity, although payment techniques mentioned previously --- when adopted individually --- provably fail

Blockchain Technology Adoption among Consumers: An Analysis of Usage Intention and Application Usefulness

Blockchain technology research has mainly been focused on general usage intention, mostly examined the organizational perspective, and lacked a differentiated view at specific blockchain applications from the consumer perspective. To foster adoption of blockchain technology, consumer perception of blockchain technology needs further understanding. Building on recent technology adoption literature and employing a representative survey for Germany, we identified context dependent predictors and moderators of blockchain technology usage intention. Results show that drivers of usage intention depend on consumers’ age, gender, experience, and cryptocurrency possession. Findings guide practitioners by shedding light on blockchain adoption and usefulness of specific blockchain applications. Moreover, results indicate that blockchain adoption research should be more granular and differentiate between applications and contexts. Our identified specific blockchain applications provide a basis for future research. Keywords: Blockchain technology; Technology adoption; UTAUT; Usage intention.Blockchain technology research has mainly been focused on general usage intention, mostly examined the organizational perspective, and lacked a differentiated view at specific blockchain applications from the consumer perspective. To foster adoption of blockchain technology, consumer perception of blockchain technology needs further understanding. Building on recent technology adoption literature and employing a representative survey for Germany, we identified context dependent predictors and moderators of blockchain technology usage intention. Results show that drivers of usage intention depend on consumers’ age, gender, experience, and cryptocurrency possession. Findings guide practitioners by shedding light on blockchain adoption and usefulness of specific blockchain applications. Moreover, results indicate that blockchain adoption research should be more granular and differentiate between applications and contexts. Our identified specific blockchain applications provide a basis for future research. Keywords: Blockchain technology; Technology adoption; UTAUT; Usage intention

Secure Credits for Micro Payments Scheme using Encrypted Techniques

Online shopping payment scheme is one of the popular in recent years. During payment process the attackers aim to stealing the customer date by targeting the point of scale (PoS) system. Increasing malware that ca steal card data as soon they are read by the device details. This server is identified from legal to illegal control is provided to customer key approach. Once collect the details at customer side are customer account is disabling automatically by erasable PUFs. It includes that limited activity as server to client transaction is sure. Attackers often aim at staling such customer data by targeting the Point of scale (for sort, PoS) system. I.e. the point at which retailer first acquires customer data. Modern PoS system is powerful computer equipped with card reader and running specialized software. Increasingly often, user device are leveraged as input to the PoS. In these scenarios, malware that can steal card data as soon as they are read by the device has flourished .As such as, in case where customer and vendor are persistently or intermittently disconnected from the net work, no secure on-line payment is possible. This work describes SPEF, over up to date approaches I term of flexibility and security. To the best of our knowledge SPEF is the first solution that provide secure fully off line payment while being resilient to all currently known Pops breaches. In particular details SPEF architecture components and protocols .Further a thorough analysis of SPEF functional security properties is provider showing its effectiveness and visibility