To: Jake Cook
From: Liying Wu
Date: 2/1/2005
Re: Article Review 2
Source Citation:
O’Mahony, D., Peirce, M., & Tewari, H. (1997). Electronic
payment systems. Boston: Artech
House.
Summary:
This book identifies the various methods of transferring money over the Internet and provides key insights into how each system works. It details each major payment method in use today including CyberCash, SET, Ecash, Mondex, Millicent, and more. The authors also describe basic cryptographic techniques and explores the future direction of the electronic payment system industry. For our research, we will focus on the basic cryptographic techniques that are essential to all electronic payment systems and examine how electronic payment systems utilize these techniques.
Research Questions:
1. How does electronic payment system function?
Outline Ideas:
1. Characteristics of current payment systems
2. Basic introduction of the essential cryptographic techniques that are essential to the operation of secure electronic payment systems.
3. Future directions of the electronic payment systems
Direct Quotes &
Paraphrases:
1. “Everything… must be assessed in money; for this enables men always to exchange their services, and so makes society possible.” (O’Manhony, Peirce, & Tewari, 1997, p. 1)
2. “A message in human readable form is referred to in cryptographic terms as plaintext. The process of disguising a message in such a way as to hide its substance is called encryption and the reverse process (decryption) takes ciphertext as input and restores the original plaintext.” (O’Manhony, Peirce, & Tewari, 1997, p. 20)