An Immediate Real Time Detection and Prevention of Double-Spending in Electronic Cash Payment System

Abstract

The introduction electronic commerce has created new financial needs that in many cases cannot be effectively fulfilled by the traditional payment systems. The success of electronic commerce business depends on the credibility of the available electronic payment systems. Electronic cash payment is one electronic payment systems developed to settle payments electronically, but suffers the problem of double-spending fraud. This paper identifies the possible causes of double-spending fraud and presents techniques to mitigate this type of fraud. These techniques involve the modification of existing electronic cash payment system, and a demonstration of the modified system to determine its double-spending fraud resistant capability.