[SC] ePSO-N 09 (fwd)

P.J. Ponder ponder at freenet.tlh.fl.us
Tue Dec 11 10:25:09 EST 2001

The latest issue (Number 10) of the Electronic Payment Systems Observatory
- Newsletter (ePSO-N) deals with authentication.

The enclosed table of contents was mailed to the 'smartcards' mailing

---------- Forwarded message ----------
Date: Tue, 11 Dec 2001 16:01:27 +0100
From: Knud Bohle <Knud.Bohle at jrc.es>
Reply-To: smartcards at intertrader.com
To: smartcards at intertrader.com
Subject: [SC] ePSO-N 09

Dear list,

again we send the contents page of the ePSO-Newsletter.
The focus of ePSO-N 10 is on authentication,
but also other articles might be of interest. In this issue we also
announce the final ePSO Conference.

Knud Boehle


ePSO-Newsletter - No 10 - November 2001



Editorial: Authentication, Privacy and Regulation

Simon Lelieveldt (simonl at wxs.nl), Amsterdam, The Netherlands, and Arnd Weber
(arnd.weber at itas.fzk.de), ITAS, Karlsruhe, Germany


This issue focuses on authentication and privacy. The development of credit
card charge backs is addressed, these being a major driving force for
proposals such as 3D Secure (Verified by Visa), SPA/UCAF, and pseudo card
numbers. The pros and cons of these technical solutions are reviewed.
Furthermore, this issue addresses the achievability of unobservable
purchases and payments on networks. In addition there are comments on the
demise of Flooz and Beenz, there is a review of the new "Blue Book" of the
European Central Bank, and the ePSO Conference taking place in Brussels on
February 19, 2002 is announced.




Guaranteed Transactions, the Quest for the 'Holy Grail'

Oliver Steeley (oliver.steeley at consult.hyperion.co.uk), Consult Hyperion,
Guildford, United Kingdom

/credit cards/Internet payment systems/security

In a change to their previous strategy of collaboration, Visa and MasterCard
have recently announced their own separate initiatives with regards to
securing Internet transactions. 3D Secure and SPA/UCAF are variations on a
theme of passing the cardholder back to their card-issuer to authenticate
themselves before the merchant seeks an authorisation. This is one more step
in a long and arduous journey, which shows no signs of coming to a speedy




Interview: Largest German Credit Card Issuer on Massive Reduction of Charge

Ulrich Riehm (ulrich.riehm at itas.fzk.de) and Arnd Weber
(arnd.weber at itas.fzk.de), ITAS, Karlsruhe, Germany, talk to Tilo Schürer
(tilo.schuerer at bankgesellschaft.de), Bankgesellschaft Berlin, Germany

/credit cards/security

Tilo Schürer is responsible for product management in the field of
electronic business at Bankgesellschaft Berlin, Germany's largest credit
card issuer. Schürer points out that the charge back problem in the Internet
business has massively lost importance during recent years. The decisive
measure was not improved technology but economic penalties imposed by the
credit card organisations. In the interview, there is also a discussion of
the viability of new authentication measures (e.g. 3D-Secure or SPA/UCAF).
Schürer subsumes that charge back figures are currently so low that the
banks could theoretically announce zero liability, at least once a new user
of the Internet has registered for a new authentication process.




Hi-tech Payment Technologies in Russia: The Case of Paycash

Victor Dostov (vd at paycash.ru), Paycash Group, St. Petersburg, Russia

/electronic money/privacy/Internet payment systems/Russia

Paycash is a Russian-born Internet payment system based on digital cash.
With Paycash, an account can be opened pseudonymously on the Internet. The
payments are untraceable, though payments of a single "Paybook" can be
linked. In Russia, 200 shops are connected, and more than 400 transactions
per day are processed. The company is expanding its business to abroad.




JAP: A Cloak of Invisibility on the Internet

Hannes Federrath (Federrath at inf.tu-dresden.de), Dresden University of
Technology, Germany/privacy/electronic commerce/JAP is an Internet service
designed to enable the unobservable use of the world wide web. In the
future, JAP could also be used for anonymous shopping or banking.
Invisibility is achieved by communication not taking place directly with the
web server, but by detour through a so called mix proxy cascade.


[10&6] Failure of Beenz and Flooz Indicates the End of Digital

Hugo Godschalk (hgodschalk at paysys.de), PaySys Consultancy, Frankfurt,
Germany/electronic money/InternetThe article provides an overview of the
business of Beenz and Flooz, which started as micropayment solutions, and
blurred the line between incentive points and currencies. Saying the end of
these pioneers indicates the failure of private currencies would be a rash
conclusion and rather wishful thinking of players within the traditional
payment industry (central banks included).




ePSO Final Conference on Consumer Online Payments: Trends and Challenges for

Ioannis Maghiros (ioannis.maghiros at jrc.es), IPTS, Seville, Spain
/electronic payment systems/European Commission/ePSOAs part of the ePSO
project deliverables, a one day conference entitled "ePSO Final Conference
on Consumer Online Payments: Trends and Challenges for Europe", will be held
in Brussels on February 19, 2002. The conference will: (a) set the stage for
state-of-the-art e-payment systems presentations; (b) allow actors to
exchange views on existing trends and future developments, and (c) reinforce
and extend the interaction links established by ePSO during its operation.




Meet the Heavyweight of Payment System Statistics: ECB's 'Blue Book'

Leo Van Hove (Leo.Van.Hove at vub.ac.be), Free University of Brussels, Belgium

/review/statistics/payment systems/settlement systems/EU

Not counting the yearly statistical addenda, the previous edition of
"Payment and Securities Settlement Systems in the European Union" dated back
from 1996. In the meantime advances in technology have had a profound effect
on payment systems. It was therefore a timely decision of the European
Central Bank to publish an update of its 'Blue Book'. An overview and some
personal observations are provided.



[10&9] Masthead

Electronic Payment Systems Observatory-Newsletter
ePSO-Newsletter - 2001 - No 10 - November 2001

The Electronic Payment Systems Observatory-Newsletter (ePSO-N) is an
activity within the "electronic Payment Systems Observatory" (ePSO) project
of the Institute for Prospective Technological Studies (IPTS), one of the
eight institutes of DG Joint Research Center.
The Institute for Technology Assessment and Systems Analysis (ITAS) of
Karlsruhe Research Centre edits this newsletter.

Michael Rader
co-ordinating editor
rader at itas.fzk.de

Yannis Maghiros
ePSO project leader
ioannis.maghiros at jrc.es

For subscription you may go directly to

Complete Masthead: http://epso.jrc.es/newsletter/vol10/9.html


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