Bestcash: a new e-cash for micropayment

Abstract

E-cash or electronic money which is being used for medium and or micro scale payment has been introduced to ebusiness and e-market places as a substitution for cash since internet based business and marketing have proliferated during recent decays. Although e-cash is successfully being used for medium scale payments in worldwide, but for micro scale payments it hasn't been fortunate. Investigates have revealed many reasons for so called unfortunate of e-cash in micropayment scale. Its disability to meet requirements of an ideal e-cash such as accessibility, anonymity, need of intermediate, cost of transaction, ease of use and lack of proper distribution architecture are the most outstanding failures of existing e-cashes which have stopped e-cash to be used as well known electronic money for micro scale payments. Collecting the best qualities of existing e-cashes and dismissing their disabilities will guide the research to a series of properties for an ideal e-cash named "BESTCASH". The main objective of this research is introducing a model for BESTCASH to meet the criteria of ideal electronic money for micropayment scale.