A secure and efficient authenticated encryption for electronic payment systems using elliptic curve cryptography

Abstract

The use of e-payment system for electronic trade is on its way to make daily life more easy and convenient. Contrarily, there are a number of security issues to be addressed, user anonymity and fair exchange have become important concerns along with authentication, confidentiality, integrity and non-repudiation. In a number of existing e-payment schemes, the customer pays for the product before acquiring it. Furthermore, many such schemes require very high computation and communication costs. To address such issues recently Yang et al. proposed an authenticated encryption scheme and an e-payment scheme based on their authenticated encryption. They excluded the need of digital signatures for authentication. Further they claimed their schemes to resist replay, man-in-middle, impersonation and identity theft attack while providing confidentiality, authenticity, integrity and privacy protection. However our analysis exposed that Yang et al.'s both authenticated encryption scheme and e-payment system are vulnerable to impersonation attack. An adversary just having knowledge of public parameters can easily masquerade as a legal user. Furthermore, we proposed improved authenticated encryption and e-payment schemes to overcome weaknesses of Yang et al.'s schemes. We prove the security of our schemes using automated tool ProVerif. The & Mohammad Sabzinejad Farash improved schemes are more robust and more lightweight than Yang et al.'s schemes which is evident from security and performance analysis.

E-Banking Effects on Customer Satisfaction: The Survey on Clients in Jordan Banking Sector

“…Internet banking is now used as the term for new age banking system Internet banking is defined as the use of Internet to deliver banking activities such as funds transfer, viewing current account's data, paying bills and savings account balance, purchasing financial instruments and paying mortgages and certificates of deposits (Singhal & Padhmanbhan, 2008;Opara et al, 2016). E-payment is described as that whereby banking businesses are transacted through automated processes and electronic devices such as personal computers, telephones, and fax machines, Internet card payments and other electronic channels (Chaudhry et al, 2016;Opara et al, 2016).…”

E-payment Usage among Young Urban Chinese

“…Other studies have focused on the factors which are believed to influence the adoption of e-payment systems. Some of the determinants which are believed to influence the adoption of e-payment include: the perceived benefits of e-payment (Teoh et al, 2013), ease of use (Chin and Ahmad, 2015;Teoh et al, 2013;Lin and Nguyen, 2011), perceived quality (Davis, 1989), perceived system security (Chaudhry et al, 2016;Tella and Abdulmumin 2015;Antoniou and Batten, 2011), user trust in e-payment systems (Teoh et al, 2013;Antoniou and Batten, 2011;Ozkan et al, 2010;Travica et al, 2007); and to a lesser degree perceptions of self-efficacy (Teoh et al, 2013). Overall, these studies appear to suggest that customer perceptions of the benefit that they receive, perceived ease of use on the e-payment systems, the customers' perception on trust and the security of the system, the customers' self-efficacy, and the perceived quality of the e-payment system are important factors influencing the adoption, use and usage rate of e-payment.…”

A provably secure anonymous authentication scheme for Session Initiation Protocol

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