SVP: A flexible micropayment scheme

Abstract

We propose a cheap micropayment scheme based on reasonable requirements. It can be used for any payment which is online between the customer and the vendor and offline with the broker. It is flexible in the sense that many security options are possible depending on the policy of the involved participants. We avoid large data storage, heavy computations. The scheme is software based for the customer and hardware based for the vendor. Possibilities of having software-based solution for both are also presented.