A New Payment Protocol Based on A Virtual Account for The Fourth- Party E-commerce

Yong Xu; Haiwen Chen; Rui Zing; Tinting Yan
January 2013
International Journal of Digital Content Technology & its Applic;Jan2013, Vol. 7 Issue 1, p336
Academic Journal
This paper at first points out that the existing payment system can't meet the needs of e - commerce, then puts forward the payment platform of fourth-party e-commerce. The platform achieves the integration of payment resources, which aims to provide unified authentication, unified payment, unified supervision and other issues. Therefore, a virtual account is established in order to achieve the objectives and functions of the platform. Then this paper mainly focuses on the design of a unified payment protocol and describes how the protocol achieves the above requirements by sending messages and responses. Compared with the traditional electronic payment, the unified payment protocol for fourth-party e-commerce has a higher level of efficiency, safety and fairness.


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