6.5. Other Payment Services on the Internet
Besides SET, there are other payment protocols being discussed, implemented, and tested. Among these, we briefly discuss the following: electronic checking, digital cash, and W3C's common markup for micropayment per-fee-links.
An electronic check is similar to a paper check but safer. As in SET, a customer needs a e-wallet to store information on the browser about the checking account. When the customer is ready to make a payment, an encrypted message is sent to the merchant's site. This message is encrypted with the merchant's public key and has the account number of the checking account encrypted with the customer's bank public key for added protection. The merchant verifies that the information in ...
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