Importance

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Abstract

An electronic commerce system, that electronically emulates the Mail Order/Telephone Ordering process on the Internet, including customer and merchant network address verification. Customer and merchant address verification are done electronically. Other commerce parties than the customer and merchant in the electronic commerce system, could be as easily verified using the commerce system. (PKI) The system uses a Public Key Infrastructure system to ensure secure and irrefutable electronic commerce transactions on the Internet. PKI ensures that the electronic commerce party is whom he claims to be when used in conjunction with network address verification, ensures confidentiality of the data transmitted between the commerce parties and ensures that the data has not been altered during transmission. The electronic commerce system operates in two phases: a registration phase and a transaction phase. During the registration phase each participant registers with the relevant parties in the commerce system and then registers with a central trusted authority on the Internet. The registration phase includes parties registering with their relevant banks and Internet Service Providers. The banks and ISPs transmit a digitally signed certificate with pertinent information to the registrant. The participant's Internet Service Provider's certificate contains encrypted information identifying how the participant logs onto the Internet and where the participant resides on the Internet when conducting a commerce transaction. During the transaction phase of the commerce system, these registered digital certificates are used to verify the credentials of the various participants and the appropriate public keys are used to encrypt information on a 'for-your-eyes-only' basis, such that only the party that needs to view the information will be able to decrypt it using their private key.

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First Claim