A new on-line cash check scheme

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“…Depending on the payment mechanism, electronic cash can be classified into four categories: coinbased [5,7], check-based [4,8,9,12,13,20], divisible-cash based [6,16,18,19], and challenge-semantic-based [14]. In general, coin systems provide a restrictive set of denominations.…”

“…Instead, the aim of an electronic check system is to explore different payment options, and to develop a more efficient payment method than the widely used coin systems. It might be better to use a term other than "check" (although some systems used the term "cash check" instead of just "check") to avoid confusion; however, we use the term "check system" because it is widely used [4,8,9,12,13,20].…”

“…Providing a refund mechanism that satisfies all these requirements is not easy. Of the current check systems [4,8,9,12,13,20], only Chaum's online system [8] provides reusable refunds. In Chaum's system, however, refunds can only be used to pay certain prices.…”

“…Moreover, since a check can be spent only once, the remainder of the check must always be refunded, which makes check systems inconvenient for clients. Deng et al [12] provided, in their online check system, a new payment method that reduces the number of online messages handled by the bank during payment. This method allows clients to have multiple offline shopping sessions with the same shop using a single check.…”

“…Deng et al [12] introduced a new online check system which extends Chaum's online system. In this system, clients withdraw a check with a system-wide maximum value.…”