A new scheme of credit based payment for electronic commerce

The paper describes a new credit card system, which presents a promise for us to develop a new method of protecting secret information, such as credit card number, PIN and identification. Our credit cards are anonymous. That is, the identity of a card holder and credit card information are not revealed during a payment process. One important feature of our system lies in the fact that, unlike normal electronic credit based systems such as SET, iKP and NetCard, the involvement of the online financial institution that runs the payment system is reduced to a minimum.