An offline user-verifiable electronic traveler's check system

In recent years, the electronic commerce becomes a popular research issue such that many electronic payment schemes have been proposed to make the electronic commerce more efficient and convenient. However, most of these schemes require high computation cost because the public-key cryptosystem is used. To decrease the computation cost, Liaw et al. proposed an electronic traveler's check scheme based on one-way hash function. Unfortunately, their scheme cannot verify the ownership of the check such that their scheme has a security weakness when the check is lost. Thus, we propose an offline user-verifiable electronic traveler's check system to overcome this security weakness. The proposed system can prevent an invalid user from paying the merchant by the check even if the check has been lost or stolen. In addition, the proposed system provides the security requirements of non-forgery, non-double-spending, user-verifying and anonymity. Compared with the related works, the proposed system is more efficient, reliable and practical for electronic transactions.