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Two parties that conduct a business transaction through the internet do not see each other face-to-face nor do they exchange any document or currency hand-to-hand. Electronic payment is a way by which the two parties transfer the money through internet. Offering electronic payment can also help businesses improve and customer retention. When electronic money is transferred from a buyer to a seller over telecommunication networks, accuracy and security is critical. Several systems have been developed to satisfy the basic requirement of E payment. Despite all these the integrity of payment and order information of online purchase is an important concern. With the online purchase the customer and merchant can not be assumed to be completely honest or they can act to change the either payment information or the order information. In this paper mathematical model is proposed which can be used to verify the integrity of payment and order information of online purchase. The model is based on third party verification which accepts two different messages from customer and merchant and verifies their integrity. The model is also analyzed on the two points when customer and merchant are not honest.
Date of Conference: 9-11 Dec. 2009