Securing Credit Card Transactions with One-Time Payment Scheme

Publication Type

Journal Article

Publication Date

2005

Abstract

Traditional credit card payment is not secure against credit card frauds because an attacker can easily know a semi-secret credit card number that is repetitively used. Recently one-time transaction number has been proposed by some researchers and credit card companies to enhance the security in credit card payment. Following this idea, we present a practical security enhancement scheme for one-time credit card payment. In our scheme, a hash function is used in generation of one-time credit card numbers with a secret only known to the card holder and issuer. Compared with related work, our scheme places less burden on credit card issuers, and can be easily deployed in on-line or off-line payment scenarios. Analysis and simulation show that the time and space complexity is affordable to the card issuer with desired security features.

Keywords

Credit card transaction, Credit card fraud, Security

Discipline

Information Security

Research Areas

Information Security and Trust

Publication

Electronic Commerce Research and Applications

Volume

4

Issue

4

First Page

413

Last Page

426

ISSN

1567-4223

Identifier

10.1016/j.elerap.2005.06.002

Publisher

Elsevier

Additional URL

http://dx.doi.org/10.1016/j.elerap.2005.06.002

Link to Full Text

Share

COinS