Micropayments are electronic payments of small amount. Given their low value, the cost of the corresponding electronic transactions should also be kept low. Current micropayment schemes allow a regular amount of money withdrawn from a bank to be split into fixed-value coupons, each of which is used for one micropayment. A more flexible mechanism is proposed in this paper, whereby coupons of variable value can be generated by a spending program without increasing the transaction cost. Moreover, the spending program allows one of several alternative ways of splitting the amount withdrawn into re-usable coupons to be selected in real-time.
|Number of pages||13|
|Journal||Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)|
|Publication status||Published - 1999|
- Electronic commerce
- Hash chain
- Hash functions
- Spending program