1 Scope
This standard addresses the following:
A) Payment Model Description
This standard describes a model of account based electronic payments. It identifies the roles played by
different components of the payment process and the flow of information between those roles. The roles are
the consumer, who wishes to make a payment, a merchant which provides value, and their respective
Financial Institutions, the consumer financial institution and the merchant financial institution.
B) Secure Object Specifications
This standard specifies a collection of electronic payment objects and references digital signature techniques
to secure their content. The objects are all defined in terms of how they need to be constructed, signed and
verified in computing machinery that is acting on behalf of a consumer and a merchant. A concrete syntax is
specified in order that the signature can be constructed or verified at any location that has access to the
consumer's public key and associated data. A business recommendation is made that the payment routing
code (or PAN) used in conjunction with secure payment objects defined by this standard is not accepted as
valid in non-authenticated transactions. Several usage scenarios are given to show examples of real
applications where the standard objects may be applicable.
Confidentiality for the payment information may be desired and is neither required, nor precluded, by this
standard. Prudent implementers may choose to conduct a risk assessment to determine the need for
confidentiality. Also policy issues, including terms and conditions of the agreements between the parties, are not
covered in this standard. . While some of the information described in the standard must survive interchange
between cooperating financial institutions, the syntax of how it appears in any particular payment protocol is not
specified.
| ANSI : | ANSI Approved |
| File Size : | 1
file
, 190 KB |
| Number of Pages : | 50 |
| Published : | 05/24/2006 |
